Nordson forecasts upbeat annual earnings on strong advanced tech demand
Nordson forecasts upbeat annual earnings on strong advanced tech demand Aug 19 (Reuters) - Dispensing equipment maker Nordson NDSN.O on Wednesday forecast annual profit and revenue above Wall Street expectations and reported better-than-expected quarterly results, on robust demand for its advanced technology products.
Shares of the company rose more than 4% in after-hours trading.
The Westlake, Ohio-based firm expects full-year adjusted profit to be between $11.80 and $12 per share, above analysts' average estimate of $11.59, according to data compiled by LSEG.
Nordson manufactures equipment used to precisely apply and control materials such as adhesives, coatings, polymers, sealants and biomaterials. It also makes product testing systems, surface treatment and curing equipment, and machinery used in the production of medical devices and components.
The company expects to deliver annual sales in the range of $3.04 billion to $3.08 billion, above analysts' expectations of $2.98 billion.
It reported third-quarter adjusted earnings of $3.25 per share, beating estimates of $3.10 per share.
Its total sales for the quarter ended July 31 stood at $817.7 million, beating estimates of $780.1 million.
(Reporting by Apratim Sarkar and Megavarshini G. Somasundaram in Bengaluru; Editing by Diti Pujara)
((Apratim.Sarkar@thomsonreuters.com;))
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