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NORDSON CORPORATION REPORTS RECORD SALES AND EARNINGS FOR FISCAL 1991

NORDSON CORPORATION REPORTS RECORD SALES AND EARNINGS FOR FISCAL 1991
 WESTLAKE, Ohio, Dec. 11 /PRNewswire/ -- Nordson Corporation (NASDAQ: NDSN) announced today a 16 percent increase in earnings per share on a 12 percent increase in sales for the fiscal year ended Nov. 3, 1991. Fiscal 1991 sales were $388 million, and earnings per share were $1.77. This compares with 1990 sales of $344.9 million and earnings per share of $1.52.
 Sales for the fourth quarter of 1991 were $106.1 million and earnings per share were $.57, compared with $96.1 million and $.45, respectively, for the same period of the previous year. Sales and earnings per share for both the fourth quarter and fiscal year of 1991 were record amounts.
 Earnings per share amounts are restated to reflect the two-for-one stock split on Sept. 24, 1991.
 "We are very pleased with Nordson's 1991 operating performance," said William P. Madar, president and chief executive officer. "Steady gains associated with the sale of standard products more than offset the effects of weak demand for large engineered systems, a situation traced to global business conditions. Improved manufacturing efficiencies also contributed to higher operating margins.
 "We continue to be concerned about current economic conditions. Nevertheless, we are well-positioned to take full advantage of any improvements in the world manufacturing economy," Madar added.
 As previously announced, Nordson will pay a first quarter 1992 dividend of $.11 per share on Jan. 3, an increase of 10 percent. This continues a record of dividend increases each year since 1963.
 Nordson Corporation designs, manufactures and markets systems that apply adhesives, sealants and coatings during manufacturing operations. Headquartered in Westlake, Ohio, Nordson has 20 international subsidiaries and more than 2,800 employees worldwide.
 NORDSON CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in thousands except for per share amounts)
 FOURTH QUARTER REPORT
 Period Ending November 3, 1991
 (Unaudited)
 CONSOLIDATED STATEMENT OF INCOME
 Fourth Quarter
 1991 1990
 Net Sales $106,094 $96,094
 Cost of Sales 42,008 43,233
 Selling and Administrative Expenses 45,587 38,169
 Operating Profit 18,499 14,692
 Interest Income (Expense) - Net (1,590) (1,467)
 Other Income - (Expense) - Net 63 (249)
 Income Before Income Taxes 16,972 12,976
 Income Taxes 5,927 4,317
 Net Income $11,045 $8,659
 Return on Sales 10 pct. 9 pct.
 Return on Average Shareholders' Equity 31 pct. 28 pct.
 Per Share:
 Primary Earnings $.57 $.45
 Dividends Paid $.10 $.09
 Year-To-Date
 1991 1990
 Net Sales $387,962 $344,904
 Cost of Sales 158,885 154,653
 Selling and Administrative Expenses 170,814 140,450
 Operating Profit 58,263 49,801
 Interest Income (Expense) - Net (6,535) (5,722)
 Other Income - (Expense) - Net 232 723
 Income Before Income Taxes 51,960 44,802
 Income Taxes 18,173 15,456
 Net Income $33,787 $29,346
 Return on Sales 9 pct. 9 pct.
 Return on Average Shareholders' Equity 25 pct. 25 pct.
 Per Share:
 Primary Earnings $1.77 $1.52
 Dividends Paid $.40 $.36
 CONSOLIDATED BALANCE SHEET
 Nov. 3, Oct. 28
 1991 1990
 Cash and Marketable Securities $10,481 $ 8,837
 Receivables 84,779 80,541
 Inventories 78,471 68,027
 Prepaid Expenses 20,184 16,519
 Total Current Assets 193,915 173,924
 Property Plant and Equipment - net 74,440 74,689
 Other Assets 28,575 20,910
 Total $296,930 $269,523
 Notes Payable and Debt Due Within
 One Year $39,049 $47,389
 Accounts Payable and Accrued
 Liabilities 67,862 60,442
 Total Current Liabilities 106,911 107,831
 Long-term Debt 25,531 25,501
 Other Liabilities 11,774 5,817
 Total Shareholders' Equity 152,714 130,374
 Total $296,930 $269,523
 Other Information:
 Employees 2,827 2,645
 Common Shares and Common Share
 Equivalents (000s) 19,093 19,266
 All share and per share data has been restated to reflect the 2-for-1 stock split.
 -0- 12/11/91
 /CONTACT: Edward P. Campbell of Nordson Corporation, 216-892-1580/
 (NDSN) CO: Nordson Corporation ST: Ohio IN: MAC SU: ERN


KK -- CL003 -- 1316 12/11/91 09:03 EST
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Date:Dec 11, 1991
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