Reuters: Global Markets: Nordson forecasts fourth quarter above estimates; shares rise

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Nordson forecasts fourth quarter above estimates; shares rise Aug 20th 2012, 21:46 Mon Aug 20, 2012 5:46pm EDT (Reuters) - Nordson Corp (NDSN.O), which makes precision dispensing machines used in manufacturing of consumer goods, forecast a strong fourth quarter after it posted a quarterly profit above analysts' estimates, sending shares up 14 percent in extended trade. The company said it expects to earn between 96 cents to $1.04 per share on revenue of between $408 million and $422 million in the current quarter. Analysts on average were expecting earnings of 95 cents per share, excluding items, on revenue of $391.6 million, according to Thomson Reuters I/B/E/S. Revenue in Nordson's largest segment, which makes equipment for applying adhesives to baby diapers, surgical drapes, gowns and shoe covers, rose 21 percent in the third quarter, helped by strong demand in the consumer non-durables market. Asia Pacific sales, which contribute about a third to total revenue, jumped 51 percent. Total revenue rose 22 percent to $379.9 million. Net income rose to $66.7 million, or $1.03 per share, in the third quarter, from $56.6 million, or 82 cents per share, a year earlier. Excluding items, Nordson earned $1.06 per share, handily beating the 99 cents analysts had expected. The Westlake, Ohio-based company's shares, which have risen about 50 percent since touching a year-low in October, rose to $62.50 in post-market trade. They closed at $55 on the Nasdaq on Monday. (Reporting by Mridhula Raghavan in Bangalore; Editing by Saumyadeb Chakrabarty, Supriya Kurane) Link this Share this Digg this Email Reprints

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