Nordson, an adhesive manufacturing company, announced on Wednesday that its sales have continued to rise in the latest quarter. This growth was primarily driven by the success of its industrial precision unit, as well as a positive impact from currency translation and recent acquisitions.
During the fiscal fourth quarter, which ended on October 31, the company’s net profit dropped to $127.8 million, or $2.22 per share. This is a decrease from the previous year’s fourth quarter profit of $141.2 million, or $2.44 per share. However, after excluding one-time items, Nordson’s earnings per share came in at $2.46, surpassing analysts’ expectations of $2.40 per share.
Furthermore, Nordson’s sales for this quarter reached $719.3 million, marking a 5.2% increase over the same period last year. This result exceeded analysts’ predictions of $706.2 million.
While the company experienced a 3% decline in organic sales, predominantly attributed to its electronics dispense and biopharma product lines, it observed double-digit growth in its medical interventional solutions and several industrial precision product lines.
“We are pleased with the strong performance of our medical interventional solutions and various industrial precision product lines during this quarter. However, we anticipated some weakness in the electronics and biopharma end markets,” stated Chief Executive Sundaram Nagarajan.
Overall, Nordson’s latest sales report exhibits promising growth, despite certain challenges faced in specific market segments. The company remains optimistic about its future prospects.
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