Earnings release
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Exhibit 99.1 Nordson Corporation Reports Fiscal Year 2021 First Quarter Results First Quarter : • • • Sales were $ 527 million , a 6 % increase over prior year Operating profit was $ 109 million , or 21 % of sales , a 39 % increase over prior year Earnings were $ 1.32 per diluted share , a 48 % increase over prior year Guidance : Fiscal 2021 full year sales growth of 4 % to 6 % and full year diluted earnings per share in the range of $ 6.30 to $ 6.70 WESTLAKE , Ohio -- ( BUSINESS WIRE ) -- February 22 , 2021 -- Nordson Corporation ( Nasdaq : NDSN ) today reported results for the fiscal first quarter ended January 31 , 2021. Sales were $ 527 million , a 6 % increase compared to the prior year's first quarter sales of $ 495 million . Strength in consumer non- durable and industrial end markets were the primary drivers of the growth . The change in first quarter 2021 sales included an organic volume increase of 3 % , a favorable effect from currency translation of 3 % , and benefits from acquisitions . Operating profit in the quarter was $ 109 million or 21 % of sales , compared to prior year adjusted operating profit of $ 78 million . This 39 % increase in profit was driven by leveraging sales volume growth , benefits from structural cost reduction actions taken in fiscal year 2020 , and an improved sales mix . EBITDA for the first quarter of 2021 totaled $ 135 million , or 26 % of sales . Net income was $ 78 million , a 49 % increase from the prior year earnings of $ 52 million . First quarter 2021 diluted earnings per share were $ 1.32 , a 48 % increase over the prior year earnings of $ 0.89 per diluted share . " I am very pleased with the solid start to the year , particularly in our return to year - over - year organic sales growth and the significant profit margin expansion as strategic actions taken in fiscal year 2020 began delivering results . While this remains a dynamic macro - environment , we are encouraged by the order entry momentum we started to see within the quarter , particularly in product lines serving the medical and electronics end markets , " said Nordson President and Chief Executive Officer Sundaram Nagarajan . “ I am very thankful for the energy and commitment of our employees , who continue to manage through the uncertainty of COVID - 19 while also deploying our new NBS Next growth framework and making a strong Nordson even stronger . " First Quarter Segment Results Industrial Precision Solutions sales of $ 288 million increased approximately 9 % compared to the prior year first quarter , driven by a 6 % organic increase and a favorable currency impact of 3 % . The organic sales increase was driven by solid demand in consumer non - durable and industrial end markets . Operating profit was $ 83 million , or 29 % of sales compared to 21 % in the prior year first quarter . Advanced Technology Solutions sales of $ 238 million increased approximately 3 % compared to the prior year first quarter . Acquisitions increased sales by approximately 2 % and favorable currency impacts also added 2 % , which was offset by an organic volume decrease of 1 % . Sales growth in test and inspection and fluid dispense product lines was offset by weaker shipments in electronic dispense and medical interventional solutions product lines during the quarter . Operating profit totaled $ 47 million , or 20 % of sales , compared to adjusted operating profit of 15 % of sales in the prior year first quarter . Outlook On February 1 , the divestiture of the screws and barrels product line was completed . This was an important strategic portfolio realignment that will lead to improved profitability . 1