nordson corp (NDSN) Key Developments
Nordson Corporation Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 31, 2014; Provides Earnings Guidance Fourth Quarter and Full Year of Fiscal 2014
Aug 21 14
Nordson Corporation reported consolidated unaudited earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, the company reported net sales of $458,550,000 compared with $402,960,000 for the same period last year. Operating profit was $114,455,000 compared with $93,216,000 for the same period last year. Income before income taxes was $110,546,000 compared with $92,674,000 for the same period last year. Net income was $77,879,000 or $1.21 diluted per share compared with $65,424,000 or $1.01 diluted per share for the same period last year. Return on average shareholders' equity was 33% compared with 34% for the same period last year. Net cash provided by operating activities was $80,769,000 compared with $91,955,000 for the same period last year. Additions to property, plant and equipment was $11,442,000 compared with $10,855,000 for the same period last year. Diluted EPS as adjusted (Non-GAAP) was $1.20 compared with $0.99 for the same period last year.
For the six months, the company reported net sales of $1,235,431,000 compared with $1,132,103,000 for the same period last year. Operating profit was $261,148,000 compared with $236,982,000 for the same period last year. Income before income taxes was $249,846,000 compared with $227,175,000 for the same period last year. Net income was $174,693,000 or $2.71 diluted per share compared with $162,040,000 or $2.50 diluted per share for the same period last year. Return on average shareholders' equity was 25% compared with 30% for the same period last year. Net cash provided by operating activities was $182,958,000 compared with $194,584,000 for the same period last year. Additions to property, plant and equipment was $27,936,000 compared with $34,569,000 for the same period last year. Diluted EPS as adjusted (Non-GAAP) was $2.73 compared with $2.45 for the same period last year.
For the fourth quarter of fiscal 2014, sales growth is expected to be in the range of 10% to 14% as compared to the fourth quarter a year ago. This growth is inclusive of organic volume growth of 7% to 11% and 3% growth from the first year effect of the Kreyenborg and Avalon acquisitions. The effect of currency translation is expected to be immaterial as compared to the prior year's fourth quarter based on the current exchange rate environment. GAAP diluted earnings per share are expected to be in the range of $1.07 to $1.17, inclusive of a $0.02 short term purchase accounting charge related to the step-up in value of inventory acquired in the Avalon acquisition. Gross margin to be between 55% and 56%. And operating margin is forecasted to be approximately 23%, or 24%, excluding short-term purchase accounting charges related to the step-up in value of inventory acquired from the Avalon acquisition. Effective tax rate is expected to be approximately 30.5%.
For the full year, the company expects capital expenditures to be approximately $45 million, including investment related to the previously announced facility in Colorado supporting the fluid management product lines.
Nordson Corporation Approves Quarterly Cash Dividend, Payable on September 9, 2014
Aug 15 14
Nordson Corporation announced that its Board of Directors has approved an increase in the company's quarterly cash dividend to $0.22 per common share from $0.18, an increase of 22%. The dividend is payable on September 9, 2014 to shareholders of record as of the close of business on August 26, 2014 and represents a total distribution to shareholders of approximately $13.9 million.
Nordson Corporation to Report Q3, 2014 Results on Aug 21, 2014
Jul 31 14
Nordson Corporation announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Aug 21, 2014
Nordson Corporation, Q3 2014 Earnings Call, Aug 22, 2014
Jul 31 14
Nordson Corporation, Q3 2014 Earnings Call, Aug 22, 2014
Nordson Introduces Portfolio of Fluid Coating Systems
Jun 27 14
Nordson Corporation has introduced a portfolio of fluid coating systems, reportedly backed by experience with slot die technologies, and supported by a sales and technical service network. The Nordson portfolio includes fluid delivery, slot-die application, and die positioning systems for applying hot melts, solvent- and water-based materials, inks, magnetic media, and many other materials. Viscosity capabilities range from 1 to 250,000 cps. Taken all together, these fluid coating systems have extensive application histories in markets as diverse as automotive, construction, electronics, energy, food packaging, tapes and labels, and textiles. Slot die systems now available from Nordson include three types whose application mode is 'contact /wipe,' in which the die lip is used to wipe the coating material directly onto the substrate, and one 'non-contact /draw' system, in which the die exit is a small distance from the substrate and the motion of the backup roll or tension web draws the coating into a thin layer. Key advantages of Premier fixed-lip /shim non-contact /draw system include high precision, ease of use, and capability of applying very thin coatings. Because the lips are fixed, the die provides a high degree of precision and run-to-run repeatability with a minimum of operator intervention. Gap adjustment must be carried out by means of shims. The die can apply coatings with viscosities in the 1 to 175,000 cpm range. Minimum wet coating thickness is 1 micron. Coat weight accuracy is held to +/- 1 to 2%. Versatility is a key feature of UltraCoat adjustable-lip contact /wipe system, in which the coating gap and width can be adjusted without having to disassemble the die. Gap adjustment may be manual (UltraFlex) or automated (AutoFlex) and makes it possible to offset variations in cross-web profile thickness and process parameters. The UltraCoat system can be used with the full range of fluid coating materials, including hot melts. The shear forces involved in wiping the coating material onto the substrate help to enhance surface quality. The die can apply coatings with viscosities in the 1 to 250,000 cpm range. Minimum wet coating thickness is 12 microns. Coat weight accuracy in non-hot melt applications is held to +/- 1.75 to 3.5%. The key advantage of contact /wipe TrueCoat TCHP fixed-lip /shim system for hot melts are its capability for quick changeovers and its ease of use. Use of a rotating bar in full-width coating makes possible streak-free coverage and excellent edge control, making the die particularly beneficial for tape and label applications. For stripe coating, fast pattern changes are achieved with quick-change, replaceable slot nozzles. As one nozzle is running in the machine, the other can be prepared with a shim plate, which defines the coating pattern. For larger application widths, a trolley facilitates the nozzle change. The net changeover time is within several minutes. The flexibility and functionality of the TrueCoat TCHP slot applicator is expanded with capability to quickly change between slot nozzle and rotating bar nozzle modes. The die can apply coatings with viscosities in the 1 to 50,000 cpm range. Minimum coating thickness is 12 microns. Coat weight accuracy is held to +/- 5%. This contact /wipe SpeedCoat fixed-lip /shim system for hot melts is designed for intermittent pattern coating and is well suited for short runs and rapid changeovers. The die can apply coatings with viscosities in the 1 to 50,000 cpm range. Minimum coating thickness is 12 microns. Coat weight accuracy is held to +/- 5%. Along with these slot dies, Nordson manufactures a wide range of related equipment essential for fluid coating accuracy and productivity. Fluid delivery systems provide a non-pulsing, consistent feed of fluid to the die, ensuring consistent coating volumes. Die positioners or coating stations provide repeatability and adjustability. And vacuum boxes help to control the length of the coating bead and the processing window for developing surface properties. Also available are complete modular coating systems for lease or purchase by customers, as well as for on-site customer trials.