Nordson Corporation (NASDAQ:NDSN) shares are trading lower after the company reported worse-than-expected fourth-quarter EPS and sales results.
Nordson reported quarterly earnings of $1.88 per share which missed the analyst consensus estimate of $2.09. Nordson also reported quarterly sales of $599.00 million which missed the analyst consensus estimate of $617.45 million by 3%. This is a 7% increase over sales of $558.52 million in the same period last year.
Nordson President and Chief Executive Officer Sundaram Nagarajan said, "The fourth quarter was a solid finish to an incredible year, where we surpassed our prior record annual performance in sales by $108 million and in operating profit by $111 million. I am very proud of the Nordson team. This growth was across a broad base of end markets and geographies, as a result of leveraging the NBS Next growth framework to fully participate in the accelerated economic recovery."
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Nordson is a manufacturer of equipment (including pumps, valves, dispensers, applicators, filters, and pelletizers, among other equipment) used for dispensing adhesives, coatings, sealants and other materials. The firm serves a diverse range of end markets including packaging, medical, electronics and industrial.
Nordson has a 52-week high of $272.28 and a 52-week low of $178.60.
