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What: Shares of adhesive equipment maker Nordson
So what: After the close yesterday, Nordson reported results for its fiscal first quarter. Revenue for the quarter increased 23% from 2010 on 24% volume growth while earnings per share were up 71%. Revenue of $271 million and EPS of $1.33 easily topped analysts' estimates of $261 million and $1.10, respectively.
Now what: The performance during the quarter was broad-based across product groups and geographies and included a 45% jump in backlog versus the same quarter in 2010. Management sees continued growth ahead as well as the company continues to benefit from an economic bounce-back. For the next quarter, the company expects earnings per share of $1.70 to $1.82, which blows away the $1.25 that Wall Street had been estimating.
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