Nordson Corporation (NASDAQ:NDSN)

Fiscal Third Quarter Results:

• Sales increase 35 percent over previous year to $279 million.
• Diluted EPS of $1.30 vs. $0.69 (Estimate was $1.12).
• First nine months operating profit, net income and diluted EPS exceed record levels of 2008.
• Fourth quarter guidance: sales expected to increase 19 to 23 percent over prior year; diluted EPS expected in the range of $1.30 to 1.41.

Order Rates and Backlog

Order rates for the 12-week period ending August 15, 2010, measured in constant currency and excluding orders for graphic arts UV curing product lines divested in the quarter, increased 30 percent over the same period a year ago. Order rates by segment and geography are provided in the accompanying financial tables.

Backlog at the end of the third quarter was approximately $139 million, an increase of 45% percent compared to the end of the third quarter a year ago, and an increase of 5% percent compared to the end of the second quarter of fiscal 2010. Backlog amounts are calculated at July 31, 2010 exchange rates.

Outlook

For the fourth quarter of fiscal 2010,

sales are expected to be in the range of $283 million to $293 million, an increase in volume of 22 to 26 percent which will be partially offset by a negative 3 percent currency translation effect as compared to the fourth quarter a year ago.

Diluted earnings per share are expected to be in the range of $1.30 to $1.41. The mid-point of this earnings per share guidance puts the company on pace to exceed the record earnings per share level of fiscal 2008 by 37 percent.

“Nordson’s year-to-date success has been gratifying, and our worldwide team is to be commended for their efforts,” said Hilton. “Our outlook is for a strong fourth quarter, and our focus on our customers is unwavering. We will continue to take advantage of returning demand while remaining prudent in our cost management, recognizing, as we’ve noted before, the continued uncertainty in the trajectory of the global economic recovery. We will continue to support and develop new and profitable growth opportunities while maintaining our leaner structure. We have demonstrated the ability to meet these dual goals through the first three quarters, and we expect to deliver solid performance again in the fourth quarter.”