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Nordson Corporation (NDSN+0.51%) has submitted its 10-K filing for the fiscal year ended October 31, 2024.
The filing includes financial statements for the year, showing net sales of $2,689,921,000, a 2.3% increase from the previous year. The increase was driven by growth in the Industrial Precision Solutions and Medical and Fluid Solutions segments.
Operating profit for the year was $674,001,000, a slight increase of 0.2% compared to the previous year. This was achieved despite a 49.4% rise in interest expenses, which totaled $88,924,000.
Net income for the year was $467,284,000, down 4.1% from the previous year. This decrease was primarily due to higher interest expenses and increased selling and administrative expenses.
Nordson completed the acquisition of Atrion Corporation on August 21, 2024, for $789,996,000, net of cash acquired. The acquisition is expected to enhance Nordson's Medical and Fluid Solutions segment.
The company reported a gross margin of 55.2%, up from 54.2% in the previous year, reflecting favorable product mix and lower incremental inventory step-up amortization.
Cash provided by operating activities was $556,193,000, while cash used in investing activities was $844,398,000, primarily due to the acquisition of Atrion.
Nordson's total assets as of October 31, 2024, were $6,000,966,000, with goodwill accounting for $3,280,819,000 of this total.
The company declared dividends of $2.82 per share for the year, an increase from $2.63 per share in the previous year.
Nordson's effective tax rate for the year was 20.2%, a decrease from 20.8% in the previous year, primarily due to a decline in the impact of foreign tax rate variances.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nordson Corporation annual 10-K report dated December 18, 2024. To report an error, please email earnings@qz.com.