NDSN - Earnings call transcript Q3 2018

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Operator

Good day ladies and gentlemen, and welcome to Nordson Corporation Webcast for Third Quarter Fiscal Year 2018 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to introduce your host for today’s conference, Ms. of and President Relations. Vice Mahoney, Corporate Investor Communications Lara

You may begin.

Lara Mahoney

We I’m Norma. quarter Executive Hilton, CFO. to our report here third XX, our fourth year results Tuesday, you, call Vice you today, conference President and Nordson's Thaxton, Mike XXXX XXXX, Greg and with Thank our outlook. August year to and and President XXXX fiscal welcome quarter CEO; fiscal

on days. Our available our will being conference live webpage be replay XX broadcast and X, XXXX, telephone call there nordson.com/investors a accessed which for conference can available There XXX-XXX-XXXX. September at be will our be is of dialing by until

to ID You XXXXXXX. reference will need number

may and filings that and this that, to discussed will involve After statements the our remarks Securities made Company’s on Exchange may the regarding Mike. take with based questions. cause to Commission other in number differ. the expectations. to During statements future risks, call actual of over factors our These call, a turn the conference as happy uncertainties, your be on we forward-looking performance Nordson’s results quarter, could be I’ll current With

Mike Hilton

solid to third and Thank joining despite XXXX Thank Nordson morning, quarter our comparisons results delivered conference you good Nordson's challenging prior year's call. quarter. for everyone. you, Lara, third

sales segment. Technology of segments Advanced was our company XX% organic challenging during two within of sales inclusive the total increased Our of growth offset XX% quarter growth. Strong the organic comparison by

Our prior year growth organic was XX%.

which conversion of dividends was line to cash before XX%. generating $XXX of while income. continuous million operating Free commitment employing improvement initiatives, Our the performance, net reflects so of bottom best delivering solutions cash technology flow XXX% strong a margin

to and we is bringing on diverse markets serve. our business strong end remain focused base we that Our customers the and value

strength and product cold end serve for lower lines. the product adhesives ahead product our and Technology set all automotive by material Advanced markets quarter, that the in medical electronics demand lines, primarily guidance reflects dispense Looking to fourth lines

speak reflection stability For the and of pace growth. lead the the of end sales on outlook the another full drive detailed few ability the our moments. quarter, on full to is as markets that serve growth, initiatives the consecutive to Greg turn a over call year, first, our provide deliver But I'll more to of year. I'll in fourth perspective we guidance are volume the our well a organic year and quarter about more a third to organic for which we as

Greg Thaxton

good everyone. results of some first outlook and Mike, third for our you, to quarter the to before moving I'll fourth on morning provide Thank on quarter our comments XXXX. fiscal

sales the sales to decreased quarter inorganic was favorable against effective acquisitions year's with X% of effects as compared third Third all in related third X% volume, growth. quarter. of results sales and related year's currency Organic prior growth approximately to expected a moderation guidance line our the translation inclusive volume segments last year's first X% from strong prior decrease growth organic of demonstrated as where we the year quarter, X% the

of X% top growth the product third across Within lines. with We're the quarter. organic end all pleased demand the on volume of increased last organic Adhesive in segment, market X% Dispensing year's pace

third volume prior compared segment, growth the Within organic the quarter to was Systems XX% XX%. Advanced down Technology year's of as organic

namely components. including most quarter management serving the during the medical demand was lines electronics the product dispense lines challenging surface markets, comparisons facing the test, inspection end With of product those exception year, lines, treatment to and and product for prior fluid robust

the and segment, X% Within the Industrial powder Coating of coating line to prior sales grow product container this organic growth painting quarter's year. compared

quarter. XX% for operating margin current million Operating margin of in company with total gross in the quarter. was XX% statement, reported $XXX the income the profit the down Moving was

we're with associated in quarter, incremental discussed The releases, $X third a year-to-date. basis, in As strong previous of the to delivered incurring charges the $X of fourth of the to effort costs Dispensing On In incremental costs earnings certain approximately quarter, or segment quarter, effort. will operating million approximately been impact Specific of $X margin costs million is adhesive facilities. million. Adhesive $X onetime the were be incremental estimating consolidation about this XX% consolidation million. we've facility approximately related exclude to restructuring XX% the the

Industrial reported primarily Coating by XXX was third related Technology the which operating in operating compared from balance quarter, sheet of the Advanced successfully $XXX net margin From prior income $X.XX the mix of quarter, third improved EBITDA net diluted sales points strong per the our GAAP to delivered benefits. mentioned discreet million were per financial sales. per margin We a earnings we deployment quarter reduced share EPS year, was system. EBITDA charge tax perspective, non-GAAP share end the from release. Xx to Systems tools by of was the per Vention non-recurring basis a debt and restructuring the GAAP $X press XX%, segment, is of segment Within from reconciliation is share XX% EPS as million up to the reported delivered adjusted the approximately earnings business $X On months for previously. was the acquisition. $XX quarter diluted of earnings $X.XX of share. A basis, third million Nordson the our and by to total XX% diluted at exhibits company was share or trailing per or in from $X.XX included benefitted XX have million,

to quarter and to dividends I’ll as exhibits financial turn now of outlook for Our flow the well free EBITDA dividends before before the adjusted press cash as fourth free XXXX. release EBITDA. income adjusted and cash includes fiscal net reconciling

the to fourth as quarter prior the be year. currency We’re forecasting unfavorable X% effect the This range compared in up acquisitions, range on organic includes down in a X% an to volume outlook to the first sales of be environment growth to the compared the year down X% flat of ago. translation and of based X%, from to rates exchange X% effective year current to

challenging $XX above primarily lower per and gross end the dispense cold demand automotive to At as medical as diluted depreciation to in and be by against reflects this diluted quarter product operating expense interest XX%. in serving share. million GAAP Coating of in fourth the margin Advanced to estimating markets well million of earnings margin electronics' resulting be $X lines, XX% $X.XX lines expense range guidance product fourth lines about Our We're quarter $X.XX very and of forecasted outlook, comparisons product material amortization about of midpoint approximately strength Industrial within segment. expect adhesive for offset Technology the and we fourth

earnings of expect our call laws $XXX over the We comments mix estimated for $XXX million. current jurisdiction to quarter tax Mike. rate turn our you million with in full Consistent effective that, the to be tax and EBITDA of our approximately the and year, on And range XX%. February with income in fourth back of based the is call, to I’ll

Mike Hilton

team, to line Greg. within been deliver systems Again the We segment. has a development offset product to particularly primary cyclicality knew to Advanced the growth and corporate of outstanding appreciation growth we’ve the topline area I'd you, and comparisons my our Technology generated continues facing team to for drive product express like we our medical growth. lines, the in challenging helping of I’m our Thank year pleased focus our with are this global team. which electronic

top fiscal For X% XXXX. is fiscal about the and expect growth organic This midpoint we generate organic the X%. our organic sales in of of full of year on growth total at of guidance, in XXXX, company XXXX growth fiscal to growth X%

Our to our ability organic growth expectations. continue again to to meet and to ability customer's the attractiveness our we ability this year of markets highlights serve, initiatives our end growth capture deliver the

bottom value year our strategic help targeted that other on good companies prioritize growth. We're traded another shareholders running focused our We'll also capital shareholders. and in technology acquisition year markets we deployment flow We opportunities support. our a delivering service this results of providing announced the our our of of long-term dividend sales with XXth the to we'll dividend We to appreciate record your With will remain improvements a line of for for consistent. strong continue annual among increase, cash continuous growth, enhancing of pride pause ranking to objectives XXth increases, questions. vision us drive we Complementing using portion superior Earlier This finishing to our increase take in that remain and of system, dividend and your our organic customers. month, and business on the returning Nordson publicly consecutive take now focused XX%. marks dividend our increases. annual longest continued

Operator

Oppenheimer. question Thank comes you. [Operator from of Instructions] first Glynn Our Christopher

line open. Your is

Christopher Glynn

that your as for have Just period within across wondering field ATS of various would pipeline plays How describe activity drive you you expectation lower of demand, the you to the your markets those the out. of as demand innovation informing guys? for future testing mobile applications waves at

Mike Hilton

a the input more a dispense any we're to of be move over in on into be played into with, our I closer at challenging phones, to we the forward be that cars. particularly to times for growth lot auto we long-term, talked tail into look the a think is our particularly move RFI of the are with continue putting of put think forth more over the said on us. of innovation. electronic that semiconductor that to autonomous of with year, is play what goes we and into going around devices of If as to cars high shielding as then And out things I the that we well of and And out. last as think involved and some volume couple mobile think impacts to So the segment. that the and opportunities inspection, And phones. not in the we're would will ultimately, more drive both sort we the growth will I sensors way here the modest to cameras, this likely strong time. it segments areas more end various about things more a side as and that and we played as other other continue customers that's side innovation mobile mentioned grow level, the year, are customers has at going the we addition see kind the driving see XG in And year, the we doing that'll will beginning some future, That's so there in mobile it in way

segment. you we're quarter, in likely this fourth So was to year into we electronics be if flat portion of going that look through the modestly challenging at coming a the be guidance down year the to do to our

us in helped quite have and efforts obviously mitigate a diversification other it's probably to decline going our dispense -- business. business very particular, pretty the the And of We're then, growing do but expectations helping So to not parts that medical nicely significant segment, to be our there. the that. meeting in is there,

Christopher Glynn

magnitude on the volatility in there? quarter Asia-Pac, Japan in terms more overall Okay. of understand could geographies, What much softness. that help the Japan ex-Japan, And higher differentiates decline or then you Asia-Pac the moderate versus the

Greg Thaxton

I Yes, again the the really of for business. that's think electronics related side

the China, into the you to a of of see we And line. one assembly going in component China of manufacturing. of that's is where phone component think and but going lot outside Japan areas manufacturing component If being final a about a the lot really lot related manufacturer key together

Operator

you. Thank

comes of SunTrust Our from Brady next Humphrey. Robinson question Charlie

line is open. Your

Charlie Brady

morning That's the guys. Mike, Nordson touch Business. wanted to Charlie on Brady. good hi, Yes, Medical

not the amount, that of picked have just focused positioning kind in done? it's of that more seeing where relative It on development, terms you're stuff can rate bit You amount couple today the those just up innovation pretty like the of a -- efforts decent about guys really been with organic business a it Is business out sounds has that made picked sounds path talk some the there. of guys growth over of acquisitions. past But the have the to like that of growth on of you coming acquisition to just you touched little years business you up. about this has of kind

Mike Hilton

the medical I of coming Vention the good Charlie. that think things is the design a think with are acquisition helped our along of restructuring a I done with of that's made last but And new we that with the their the that key of There point, to we've the is It our Yes, large allows model. There and heading. invasive minimally out things is one a desires products sort business. Vention lot systems and in business, early pipeline where some And our and development really and what big procedures. customers, customers the on of around components focus the a gives around are not front innovate innovators. do us only And is us end. emerging year

devices when and invasive you the design what cord other fastest our medical about lung it heart procedures, end those into and some and segment think nicely that's and and minimally So And areas. brain is, fit our part components of is the around vascular spinal development and capabilities growing markets. and

So we those opportunities. set to complete more more in offerings now allow have what is a participate that of

products what the there. So lot we we a have pipeline we're there strong to support of see. and a we're about excited introducing growth And

Charlie Brady

that's thanks. Yes, just And gears switching then helpful, here.

material call, put raw inflation you talk what's just your industry do on of On a guys little the seen Can price through. experience terms pricing costs, the past? question have bit to about in as you got something here

Mike Hilton

are Yes, that raw we some like steel aluminum so things there increases material that see. and

largely team there is this offset. nice been impact we've sourcing move I'd pricing able to a cost Our push to we've But say typical, point a to, to some been think, mitigating there job the some and done I offset impact we've able the seen. also there that that's has the of

Operator

from of D.A. Thank comes you. next Summerville Matt And question Davidson.

is line open. Your

Matt Summerville

and walk-through First, into at business, is in is assembly. outlook early those across that sort polymer, a four adhesive looking fourth what terms the the year, of the what I out, do about And of you pieces rigid into quarter, guess saw businesses? packaging, overall even your least the nonwoven talking quarter in next of product for

Mike Hilton

business than on quarter-to-quarter that based core the see stronger can look adhesive pretty big our packaging, there So but if solid, you softer was nonwoven, in little I third say, quarter, product assembly that and would movement we projects. a

read in lines, say in our particular our not that. within And performance anything don’t strong a product plastics time others us, that backlog lines year prior seeing we've most but pretty expand into the lead I across So plastic area some comp had product solid little in quarter industry. in the business X%. I’d and about building for bit strong a the only some we’re that for point to pretty

things. So piece there to backlog the that’s encouraging across build components see the plastic of

Matt Summerville

that in quarter. you the you’re of given you whether the nature might in is you effectively at of guys as sort specifically beyond follow-up, while don’t next comp capturing your first or just point like a tax these guide not Having I really you any to comment the or there fiscal then And recognized cycle are said of is facing, short the comparisons you earlier make that, point business comp? plus feel the is some facing in the street XX% this that of quarter advance handicapping to 'XX, are

Mike Hilton

Yes, obviously I mean, there. is comp the out

than we've what parts and business. diversify the and here, offset control swings this is control thank drop activities the look to with to take is seen is to we play general this everybody an I efforts movements the going comment of quarter-to-quarter good And think strengths continued spend, can't back then these doing but see fundamentally. the orders. pretty to which, of business challenging year, you that industries step the And if the growth our whether back, step significant on application said I’d and in and and we at most a pretty earlier of our with going an is, as is we’ve the of I performance from electronics a a business, folks are more of kind medical think where had to quarter-to-quarter both it. that. electronics for give recognize If standpoint the because close in customer can other those so we we this I looking can indication and but to is respond But I offsetting are flat can't is maybe really advantage there, say we’re be what can't we mobile how how I going customers year-over-year, improper that. What

over going mitigate if grow you’re So sort trying and I look in cycle, business and there volatility, to the that at a with short-term, continuing to think is more see you to we’re of this our efforts. diversification annually

Matt Summerville

I’ll Mike. Thanks get back queue. in

Operator

Thank you.

Our from the Dankert comes next of question of line Chris Longbow Research.

is open. line Your

Unidentified Analyst

Good morning, [indiscernible] this Chris. on is for Carl

kind facility updates on expected timing of the any just and on you the have benefits So kind do there? of consolidation,

Mike Hilton

additional is be earlier, effort that that cost in new although of long we’re middle see the the But think would some as Yes, facilities. that result up by be a now, calendar effort the by well. the the but come more both we’ve U.S. is In we would And Germany the still we I the the of should to of highlighted some mentioned the as primary seen the to through end we ramping end run, so and away well, The expect through next this as we’re year year. year. go calendar he the new of in to the Greg those efficiencies consolidation, of in transfers looking as efforts. we final facilities consolidation what year have right at out expect of

improvements efficiency at the beyond point. project to ready not So that this

Unidentified Analyst

growth like there? great. any ATS And Okay, product ADS, offering the Thanks. and then tier update in on

Greg Thaxton

you ATS. adhesives or Did say

the growth the that and non-woven's and the OEM year. have growth of we've my an into some in here customers beyond customer standpoint, our about before. think, we're And captured haven't we So growth as I group adhesives, for we nice standpoint former what seeing nice a despite talked there end from expected yes, in both We're of lowest nice before. business we've seen comment some peer

the because encouraging, they'll move up line. end in very a that's So

So say materials. measuring very our good. of very And equipment, think but the systems I'd our helpful. their added the I find in in which business, customers our that's capabilities adhesives, only and we've helpful not of also find benefits, additional also packaging our suppliers to material demonstrating

working we're so closely with And them.

So I think encouraging that's as well.

Unidentified Analyst

you. Thank Great.

Operator

Thank you. Company. Trusz & from [Operator Matthew of Instructions] Our next comes question Gabelli

line is open. Your

Matthew Trusz

rhetoric all seeing business? way that what impacting for overall since and guess, that's confidence X in I outlook or talk? months overall, wonder, I'd has And your broadly is your macro customers evolved trade business last you last we at impactful your Are more now, tariffs in over the a

Mike Hilton

say, Yes, I any say to to date. tariff seen are that on I the hard we've it's general, impact say proceed. as the would projects proceeding significant discussions would in normally they way would

to tariffs, that I think China some aggressive but could some with is impact. and sort I'd more on about changed. X to broader view has years. stronger going see encouraged about of a China really there and quarter, more U.S. to hard our the bit is We're last U.S. the to say concerning, than we in X particularly broader discussion the for right head. discussions a And with been little I being predict talked the overall bit little that's where macro it the hasn't think it's accounting now, last going of have the

year. hanging still at not improving. saw than as same at Japan growing, year certainly Europe in we and is a softer rate last we However, rate the are but about And last saw China certainly

has of a a a as next of changed or has discussions going we a being as policy the to that the that's flipped headwind. thing from and reserve one function tailwind function quarter around currency look whether into So significantly tariff federal

bit added is But and outlook say, well. that's looks predict one go three pretty the ago tariff say if this probably thing is to as of more. different, there to that's sort the some I'd hard how point I'd is the it's concern going we similar, escalates So saw months little a at forward

Matthew Trusz

[indiscernible] look how automotive, otherwise? about Okay, next how feel opportunities with thanks. year forward market end and that visibility or as And platforms in then much you cold you have, we dispensing do do

Mike Hilton

that Yes, ahead. projects I a planned. those idea would we of good not all say say have pretty I'd are go

of about this modest global look what more And is hard we decline we platform of in on I exactly to year. this you a It's last be last so, think going the at, speaks talked cycle time, saw if to 'XX, decline that. sort tell year,

businesses. material although revenue would more we're and automobile space, of I longer seen total terms side materials, the one whole a relatively there not of both aerospace say And the taken our year. storage cold the material business number for the say, some And of only side but do than longer-term then is our into think, have important, some pieces also good our the with I in focus we've has work capability. doing But of there we also expected. things qualification industry cold for is process of in the that as side, obviously, we growth to see drive we're efficient out some capacity. our electric the to pursuing areas automation battery effectively the of opportunity But increase that's but would drive and a to to in around their their opportunities side, backlog looks for help orders the encouraging an this modest nice cold of them

So part business those well. that opportunities see growth two we as of that as the are areas for

Operator

D.A. a have [Operator you. of Matt Summerville Davidson. from follow-up Instructions] I Thank

open. is line Your

Matt Summerville

all a couple Thanks for more.

stuff Just here some it business. that? in margin that Can a can as you what's incremental And with do that very Is be talk the as all of mean, really XX% not mean, go? strong maybe in prior you I plus ultimately ICS driving business you earnings, year I from of a respect period? guess, guys? to was that for sort where I margins think can good related auto ICS, that about with very, mix

Mike Hilton

systems. auto correct. helped, mix has the other there, a component lines bigger to look of mix and Matt, of when some the So tends at you product Certainly buying have you're and different

utilizing also drive we So system of the with helped. productivity that mix being there. merchant a to off little have a lot But things business done good bit, has the

going get and business back that we margin like to XX% or And we to As still X up on there. something years, to close. we're work things X have wanted said, getting we

of think buying it's what of I equipment, just given typically but much business, we think, XX% and a think is because of excess in goal, of it. XX% the be scope the and is don't to we're close it how that supply I expect standard just still reasonable I the to good would more nature getting

Matt Summerville

low my granularity? can similarly, earlier, a respect may if on then I be single mobile not more really Tech, last various little was mobile all, quarter And question those ADS up Tech, in your you performing? the think piece space, bit high pieces with businesses of Advanced segment everything's specifically provide just quarter feel that are XX%. to and up you you in Can XX% to how of better give a Can of us indicated were double-digit Advanced this for outside of the growing about, rates. most you kind talk there the

Mike Hilton

to fees medical verification out and we and digit, the the is electronics I if say, segment, look the of forward And that’s remember a going way it both general performing not more digit effort would single for I now piece of industry medical. and we part double high the its at half what playing expect growth the expect and it. Yes, or is total you well be that

in serves in business, I side the inspection dispense think market a more within diverse nice of this and very test because the business electronics that particular. the solid we growth has see part been end year the segment, in with

inspection So the biggest test Dispense the that really going piece. the is and for are related be be will significantly year two inspection components business and dispense is for nicely. test mobile to up and that off

electronics outside business, electronics we like segment then expect we part in efforts will be electronics. of the a down As between ground diversification you I that it of the part and modestly, covered know the diversification the said business, feel within overall, efforts of of but we’ve lot that

Matt Summerville

sequential on one expense quite And guess It million couple then built a QX? in looked you one talk And I up Greg. would of that? a bit your just like what’s bucks stepped basis. maybe about Can quick expectation for for corporate be

Greg Thaxton

items corporate quarter Yes, there that manage a numbers. in items onetime of expense were is onetime the couple in -- that

suggest So range to I back it that new million going rate. $XX forward. I probably that wouldn’t that’s down run back a

Matt Summerville

me. Thank you. That’s all from

Operator

Thank you.

Our Seaport comes Global. next Liptak question from Walter of

line open. is Your

Walter Liptak

related I do follow-on want just Well, to China. to couple of

how and had help that phone talked especially the discussion You about that the products as some that. makers mobile of some understand have the know Chinese I tough wonder -- There pause and pause you was And we’ve the to comp makers. of capacity traction in new could of is mobile is is Chinese the phone been the was you in related past and last us China a of no much of a or like there now more the year, it if broad went like out demand -- attempt? got grown.

Mike Hilton

would two things. what is say No, I

at -- for modest been pretty pretty there the year. total growth, look like you X%, sort If growth of was it’s smartphone X%

it’s a volume So not big driver.

the buy all year customers mobile And So is less the innovation. phones. that that of affects two, this with

of that we’ve and seen that’s a weaker a innovation going be it's typical the a incremental. year pattern of year strong innovation. of So sort to And

say that’s I’d things. And in difference the here. we’re seeing so side, on kind Chinese the of how no And terms they’ve what mobile of approached

dramatically they’ve in short-term, little Now a that would the the probably, way drive but, one I of needle other. bit market think gained or probably share

Walter Liptak

saying or what because they that small base come growing you’re a Chinese the still Okay. mobile off … they're Is manufacturers that

Mike Hilton

the the but growing. still less and overall pretty base. process terms small they increased general, sophisticated than base less say anymore, No. in -- been still both of of I'd the innovation. It's in has they automation But this take. in here degree there terms quiet I'd for a their not are opportunity for levels global if is They're say approach of of than a so automation,

talked the been on we've year about really year the And a got closer past, innovation. to weaker has penetration as that's across so, the this the And smartphone and board change that. saturation around

Walter Liptak

on and answer $XXX your $XX then follow-on And tariff. it. you've tariff appreciate discussions? Are specifically categories curious got of billion either the through a your in tariff the included tariff I on wonder, run billion just Okay the I question, those I'm but -- product

Mike Hilton

the details don't So all first know going the is of set we of response tariffs, in to very I'd be. modest. really And second know what the on code. Chinese say we few, set, don't very In the the yet

are those two date. that's So -- to unknowns

that. And trying yet say to see. concerning. so gets to wait we it we'll and talk focused as when I'd comment $XXX a got best there. have enough a But billion, make on we're clarity understand But more team can to we've Obviously, you and not there about that is

Walter Liptak

be to kind is And it's for is to $XXX other that there that any big was product -- let's in for equipment that going the local -- your assembly Is in. XX% China for there that into increase think included billion of the that Okay. the choice? enough dispensing electronic I say is or don't band deterrent electronics? any you make supply second,

Mike Hilton

was there. pull and Chinese said, might our capability Obviously inspection particular $XX at good to what Like I see and it's that get plays tiered $XX billion. more all feel or we would that better speculate really I not when any the both the U.S. both number, side there say, and would impact how general, go to out. just here trying in impacts some if But we levers we than we to and doing a are -- we there. would of the would the concerning look could happen do want magnitude of we in into might really side mitigate we products anticipate manufacturing you how out test for billion of us. I But until we to dispense have are an waiting

Operator

follow-up have of a Thank I Glynn you. from Christopher Oppenheimer.

Your is open. line

Christopher Glynn

Just remind impacts you algorithm in FX you wondering ultimately what as if could the us influences? transactional add the is translation for with EPS when

Greg Thaxton

Greg. Yes, Chris. This is

kind change X at If EPS. number percentage is, of the in in you sales, that look models way percentage out if historically, the to change X a you look it's it times

year. per sales, adds plus share currency X% to it tailwind the from change if be So prior to a X.X% earnings might

Christopher Glynn

sure quarter but for if dynamic $XX think got explain fourth not I million correct? in and said are Can the there my quarter. I'm those if interest, on then And this I numbers you Thanks. have you $X the numbers million right,

Greg Thaxton

Yes.

sheet bit quarter timing will down little cash the a end, on the debt. some balance year that issue post a third So, we paying we some be where of will had

Christopher Glynn

you. Okay. Thank

Operator

you. like remarks. to closing Thank At turn to this time, I'd Mike call for the Mr. Hilton over

Mike Hilton

for you interest to our global in to today. as continuing thank customers again our you your team for And thank our call well. serve Well,

Operator

participation and you for your in Ladies conference. thank gentlemen, today's

Have You a may day. disconnect. wonderful

Nordson (NDSN) 21 Aug 182018 Q3 Earnings call transcript