Nordson Corp NDSN
Q2 2013 Earnings Call Transcript

Transcript Call Date 05/24/2013

Operator: Good day, ladies and gentlemen, and welcome to the Nordson Corporation Webcast for Second Quarter Fiscal Year 2013 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. As a reminder, today's conference call is being recorded.

I would now like to turn the conference over to your host, Mr. Jim Jaye, Director of Investor Relations. Please, go ahead.

James R. Jaye - Director, Communications and IR: Thank you, Ally and good morning. This is Jim Jaye Nordson's Director of Investor Relations. I'm here with Mike Hilton our President and Chief Executive Officer; and Greg Thaxton, our Senior Vice President and Chief Financial Officer.

We'd like to welcome you to our conference call today Friday, May 24, 2013 on Nordson's second quarter results. Our conference call is being broadcast live on our webpage at and will be available there for 14 days. There will be a telephone replay of our conference call available until May 31, 2013, by calling 855-859-2056. You will need to reference ID number 64354851.

During this conference call, forward-looking statements may be made regarding our future performance based on Nordson's current expectations. These statements may involve a number of risks, uncertainties and other factors as discussed in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ. After our remarks, we will have a question-and-answer session.

I'd now like to turn the call over to Mike Hilton for an overview of our 2013 second quarter results and a bit about our outlook.

Please go ahead, Mike.

Michael F. Hilton - President and CEO: Thank you, Jim and good morning, everyone and thank you for attending Nordson's second quarter 2013 conference call. I am pleased to report that we delivered an excellent second quarter. These results reflect the efforts of our global team which continues to execute at a very high level. Our customers continue to respond to the value we provide and we remain focused on meeting their needs better than our competitors.

In a continuation of the trend we saw in our first quarter our second quarter was highlighted by strong top line organic growth and once again this growth was broad based in terms of product lines, applications and geographies. The 7% organic sales growth we delivered outpaced the levels recently reported by many industrial companies and is reflective of the diversity of our end markets and our value proposition. The first year effective acquisitions added to the top line to bring total sales volume growth in the quarter to 23% compared to the same period a year ago. We also delivered on the bottom line with GAAP diluted earnings per share increasing over the prior year's second quarter to $0.84.

Looking forward to our third quarter, we see a moderation in growth from some of our end markets, related to the low growth macroeconomic environment. That said, at the midpoint of our guidance, we're still expecting year-over-year organic sales growth against the prior year's for Nordson was very strong. With this outlook, we should see improving operating margins as compared to the second quarter.

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