1 Exhibit 13-b CONSOLIDATED STATEMENT OF INCOME - ----------------------------------------------------------------------------------------------------------------------------- NORDSON CORPORATION Years ended October 30, 1994, October 31, 1993 and November 1, 1992 1994 1993 1992 - ----------------------------------------------------------------------------------------------------------------------------- (In thousands) SALES $ 506,692 $461,557 $ 425,618 OPERATING COSTS AND EXPENSES: Cost of sales 212,866 191,575 168,437 Selling and administrative expenses 219,422 202,608 189,887 ---------------------------------------------- 432,288 394,183 358,324 ---------------------------------------------- OPERATING PROFIT 74,404 67,374 67,294 Other income (expense): Interest expense (4,392) (6,426) (6,796) Interest and investment income 866 1,110 1,098 Other -- net (20) 190 (829) ---------------------------------------------- (3,546) (5,126) (6,527) ---------------------------------------------- Income before income taxes and cumulative effect of accounting changes 70,858 62,248 60,767 Income taxes: Current 28,406 23,198 22,838 Deferred (4,202) (1,725) (1,608) ---------------------------------------------- 24,204 21,473 21,230 ---------------------------------------------- Income before cumulative effect of accounting changes 46,654 40,775 39,537 Cumulative effect of accounting changes -- (4,784) -- ---------------------------------------------- NET INCOME $ 46,654 $ 35,991 $ 39,537 ============================================== COMMON SHARES AND COMMON SHARE EQUIVALENTS 19,067 19,184 19,471 ============================================== EARNINGS PER SHARE: Income before cumulative effect of accounting changes $ 2.45 $ 2.13 $ 2.03 Cumulative effect of accounting changes -- (.25) -- ---------------------------------------------- Net income $ 2.45 $ 1.88 $ 2.03 ============================================== <FN> The accompanying notes are an integral part of the consolidated financial statements. 18