Nordson Corp. (NDSN) Thursday reported that its first-quarter net income increased to $42.0 million or $0.65 per share, from $38.3 million or $0.58 per share in the same quarter last year.
On an adjusted basis earnings per share for the quarter was $1.07, up from $0.86 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.03 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $347.04 million, a 26 percent increase from $373.83 million in the prior year quarter, while eight analysts had consensus revenue estimate of $348.93 million for the quarter. The sales improvement included an 8 percent increase in organic volume, an 18 percent increase related to the first year effect of acquisitions and minimal Currency effects.
For the second quarter of fiscal 2013, sales are expected to range between $372 million and $387 million. Also, GAAP earnings per share are expected to be in the range of $0.78 to $0.87. Analysts expect the company to report earnings of $0.93 per share on revenues of $383.96 million for the second-quarter.
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