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Nordson (Nasdaq: NDSN) announced its agreement to acquire Atrion (Nasdaq: ATRI), a leader in medical infusion and cardiovascular technologies, for $460.00 per share in cash. This acquisition values Atrion at approximately $800 million and expands Nordson’s medical portfolio into new markets and therapies. Atrion generated about $169 million in revenue in 2023 and operates three FDA registered manufacturing facilities in the U.S.
The acquisition will be funded through cash on hand and newly issued financial debt and is expected to close before Nordson’s fiscal year-end in 2024, pending regulatory and stockholder approvals. The transaction is expected to generate significant synergies within the first two years of ownership.
The acquisition aligns with Nordson's strategy to leverage long-term growth drivers in the medical sector, including an aging population, increased healthcare spending, and the adoption of minimally invasive surgical techniques.
Nordson (Nasdaq: NDSN) reported its fiscal Q2 2024 results with sales of $651 million, matching last year's figure. Net income stood at $118 million, equating to $2.05 per diluted share, a slight decrease from the previous year's $128 million and $2.21 per share. Adjusted earnings were $2.34 per share, down from $2.45. EBITDA remained flat at $203 million, representing 31% of sales.
Segment-wise, Industrial Precision Solutions saw a 9% sales increase to $367 million, while Medical and Fluid Solutions experienced a 2% rise to $169 million. Advanced Technology Solutions, however, faced a 22% decline in sales to $115 million.
Nordson updated its full-year fiscal 2024 guidance to forecast flat to 2% revenue growth, with adjusted EPS expected to range between $9.35 and $9.75. Q3 sales are projected between $645 and $670 million, with adjusted EPS of $2.25 to $2.40.
Nordson (Nasdaq: NDSN) declared a third quarter cash dividend of $0.68 per share for fiscal year 2024, maintaining the same amount as the previous quarter. The company is known for its innovative precision technology and diverse end market exposure, including consumer non-durable, medical, electronics, and industrial markets.
Nordson (Nasdaq: NDSN) announced the release of its second-quarter fiscal year 2024 earnings on May 20, 2024. The company will host a webcast on May 21, 2024, at 8:30 AM ET. Nordson is a precision technology company with a direct sales model, serving global customers in various end markets.
Nordson Electronics Solutions has been awarded by EM China for the ASYMTEK Select Coat® SL-1040 conformal coating system at Productronica China. The award was received by Jacky He at the tradeshow in Shanghai, China. The SL-1040 system has elevated coating performance with improvements in yield and uptime for automotive electronics reliability, including system-level advancements related to automation, process control, precision, and preventive maintenance for better yield and uptime. The SL-1040 is designed to meet the dynamic demands of electronics manufacturers, especially for automotive electronics. It is the most advanced conformal coating solution for high-volume production for printed circuit assembly and includes features that improve total cost of ownership.
The SL-1040 system was publicly introduced in November 2023 and pairs new process control and new maintenance using the new SC-450 PreciseCoat® Jet and enhanced EasyCoat® software, making it ideal for high-volume production. The system avoids keep-out zones, offers consistent set-up, closed-loop feedback, traceability, and data logging for Industry 4.0. The SL-1040 provides speed and throughput improvements by maximizing throughput, offering precise fluid placement, coverage uniformity, and fluid thickness, and simplifying nozzle cleaning to improve uptime and cost of ownership.
Conformal coating is essential for reliable automotive electronics, and the award-winning SL-1040 system offers highly selective, small-volume coating accuracy, near the tightest KOZs, and narrow line widths down to 1.5 mm when equipped with the SC-450. Visit Nordson's website to learn more about the technology innovation behind the SL-1040 system.
