Business
Nordson Corporation Reports Fiscal Year 2021 First Quarter Results
First Quarter: Sales were $527 million, a 6% increase over prior year Operating profit was $109 million, or 21% of sales, a 39% increase over prior year
About this update from Nordson Corporation
[{"type":"text","content":"\nFirst Quarter:\n\n\nSales were $527 million, a 6% increase over prior year\n\n\nOperating profit was $109 million, or 21% of sales, a 39% increase over prior year\n\n\nEarnings were $1.32 per diluted share, a 48% increase over prior year\n\n\nGuidance:\n\n\nFiscal 2021 full year sales growth of 4% to 6% and full year diluted earnings per share in the range of $6.30 to $6.70\n\n\n WESTLAKE, Ohio--(BUSINESS WIRE)--\nNordson Corporation (Nasdaq: NDSN) today reported results for the fiscal first quarter ended January 31, 2021. Sales were $527 million, a 6% increase compared to the prior year’s first quarter sales of $495 million. Strength in consumer non-durable and industrial end markets were the primary drivers of the growth. The change in first quarter 2021 sales included an organic volume increase of 3%, a favorable effect from currency translation of 3%, and benefits from acquisitions.\n\nOperating profit in the quarter was $109 million or 21% of sales, compared to prior year adjusted operating profit of $78 million. This 39% increase in profit was driven by leveraging sales volume growth, benefits from structural cost reduction actions taken in fiscal year 2020, and an improved sales mix. EBITDA for the first quarter of 2021 totaled $135 million, or 26% of sales.\n\nNet income was $78 million, a 49% increase from the prior year earnings of $52 million. First quarter 2021 diluted earnings per share were $1.32, a 48% increase over the prior year earnings of $0.89 per diluted share.\n\n“I am very pleased with the solid start to the year, particularly in our return to year-over-year organic sales growth and the significant profit margin expansion as strategic actions taken in fiscal year 2020 began delivering results. While this remains a dynamic macro-environment, we are encouraged by the order entry momentum we started to see within the quarter, particularly in product lines serving the medical and electronics end markets,” said Nordson President and Chief Executive Officer Sundaram Nagarajan. “I am very thankful for the energy and commitment of our employees, who continue to manage through the uncertainty of COVID-19 while also deploying our new NBS Next growth framework and making a strong Nordson even stronger.”\n\nFirst Quarter Segment Results\n\nIndustrial Precision Solutions sales of $288 million increased approximately ...