Nordson Q1 Profit Rises

(RTTNews) - Nordson Corp. (NDSN) reported that its net income for the first quarter of fiscal year 2020 increased to $52.00 million or $0.89 per share from $48.57 million or $0.83 per share in the prior year.

Adjusted earnings per share was $0.89 compared to $0.92 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales were $495 million, a 1 percent decrease from the prior year's $498 million. The change in first quarter 2020 sales included a decrease in organic volume of less than 1 percent, growth from the first year effect of acquisitions of less than 1 percent, and a decrease related to the unfavorable effect of currency translation as compared to the prior year's first quarter of approximately 1 percent. Analysts expected revenue of $501.3 million for the quarter.