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By Sabela Ojea
Nordson posted a decline in profit in the third-quarter, citing pressured orders for semiconductor dispense applications.
The adhesive manufacturing company on Monday said net income for the quarter ended July 31 fell to $127.9 million, or $2.22 a share, from $141.8 million, or $2.45 a share, for the same period a year earlier.
Stripping out one-time items, earnings per share came in at $2.35. Analysts polled by FactSet had forecast third-quarter adjusted earnings per share of $2.32.
Sales fell 2% to $648.7 million, missing analysts expectations of $664.9 million, according to FactSet.
The company also said organic sales fell 13% in Advanced Technology Solutions, “driven by electronics dispense products serving semiconductor end markets, predominantly in Asia Pacific, slightly offset by continued growth in test and inspection product lines.”
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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