Nordson forecasts third quarter above estimates
(Reuters) - Nordson Corp (NDSN.O), which makes precision dispensing machines used in manufacturing of consumer goods, forecast third-quarter results above analysts' expectations, sending its shares up 3 percent in extended trade.
The company said it expects to earn between 96 cents and $1.04 per share on revenue of $337 million to $349 million in the current quarter.
Analysts on average had been expecting earnings of 86 cents per share on revenue of $326 million, according to Thomson Reuters I/B/E/S.
"Our current order rates are encouraging and exceed the levels we saw during the first half of our year, which are driving strong expectations for our third quarter," CEO Michael Hilton said in a statement.
Nordson said earlier on Monday it would buy EDI Holdings Inc, which makes slot coating and flat polymer extrusion dies, for $200 million.
The outlook does not include any impact from the EDI Holdings acquisition, Nordson said.
For the second quarter, net income fell to $52.1 million, or 80 cents per share, from $65.2 million, or 95 cents per share, a year earlier.
Excluding items, Nordson earned 84 cents per share, but missed analysts' estimate of 87 cents per share.
Revenue fell 1 percent to $315.2 million, and was lower than the $321.2 million analysts had expected.
Shares of the company were up 3 percent at $50.35 in extended trade. They closed at $49.00 on Monday on the Nasdaq.
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Sriraj Kalluvila)
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