<SEC-DOCUMENT>0001157523-17-003226.txt : 20171213
<SEC-HEADER>0001157523-17-003226.hdr.sgml : 20171213
<ACCEPTANCE-DATETIME>20171213163317
ACCESSION NUMBER:		0001157523-17-003226
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171213
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171213
DATE AS OF CHANGE:		20171213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORDSON CORP
		CENTRAL INDEX KEY:			0000072331
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC [3569]
		IRS NUMBER:				340590250
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07977
		FILM NUMBER:		171254197

	BUSINESS ADDRESS:	
		STREET 1:		28601 CLEMENS RD
		CITY:			WESTLAKE
		STATE:			OH
		ZIP:			44145
		BUSINESS PHONE:		4408921580

	MAIL ADDRESS:	
		STREET 1:		28601 CLEMENS ROAD
		CITY:			WESTLAKE
		STATE:			OH
		ZIP:			44145
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51729749.htm
<DESCRIPTION>NORDSON CORPORATION 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 12pt">UNITED
      STATES SECURITIES AND EXCHANGE COMMISSION</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt">Washington,
      D.C. 20549</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt">FORM
      8-K</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">CURRENT
      REPORT</font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font>
    </p>
    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt">Date of
      Report (Date of earliest event reported): &#160;December 13, 2017</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br>
    </p>
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          &#160;
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        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; width: 80%; border-bottom-color: black; padding-left: 0.0px" valign="top">
          NORDSON CORPORATION
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 10%">

        </td>
        <td style="text-align: center; width: 80%; padding-left: 0.0px" valign="top">
          (Exact name of registrant as specified in its charter)
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
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<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td style="width: 5%">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; width: 90%; border-bottom-color: black; padding-left: 0.0px" valign="top">
          OHIO
        </td>
        <td style="width: 5%">

        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="text-align: center; width: 90%; padding-left: 0.0px" valign="top">
          (State or other jurisdiction of incorporation or organization)
        </td>
        <td style="width: 5%">

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            0-7977
          </p>
        </td>
        <td style="width: 30%">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; width: 37%; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            34-0590250
          </p>
        </td>
      </tr>
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        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission file number)
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td style="text-align: center; width: 37%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 25%">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; width: 50%; border-bottom-color: black; padding-left: 0.0px" valign="top">
          28601 Clemens Road, Westlake, Ohio
        </td>
        <td style="width: 25%">

        </td>
      </tr>
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        <td style="width: 25%">

        </td>
        <td style="text-align: center; width: 50%; padding-left: 0.0px" valign="top">
          (Address of principal executive offices)
        </td>
        <td style="width: 25%">

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td style="width: 40%">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; width: 20%; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="top">
          44145
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        <td style="width: 40%">

        </td>
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        </td>
        <td style="text-align: center; width: 20%; padding-left: 0.0px" valign="top">
          (Zip Code)
        </td>
        <td style="width: 40%">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 15%">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; width: 70%; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="top">
          (440) 892-1580
        </td>
        <td style="width: 15%">

        </td>
      </tr>
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        <td style="width: 15%">

        </td>
        <td style="text-align: center; width: 70%; padding-left: 0.0px" valign="top">
          (Registrant's telephone number, including area code)
        </td>
        <td style="width: 15%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2 below):
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#194;&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#194;&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company&#160;&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
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        <div style="text-align: left">

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      </div>
      <div style="page-break-after: always">
        <div style="text-align: center; font-size: 10pt; font-family: Times New Roman">
          Page 1
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        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
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    </div>
    <p>

    </p>
    <p>
      Item 2.02.&#160;&#160;Results of Operations and Financial Condition
    </p>
    <p>
      On December 13, 2017, Nordson Corporation issued a press release
      relating to its results of operations for the fourth quarter of fiscal
      2017.&#160;&#160;A copy is attached as Exhibit 99.1.
    </p>
    <p style="white-space: nowrap">
      Item 9.01. &#160;Financial Statements and Exhibits
    </p>
    <p style="margin-left: 30.0px; white-space: nowrap">
      c.)&#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
    <p style="margin-left: 60.0px; font-size: 10pt; font-family: Times New Roman">
      99.1 Press release of Nordson Corporation dated December 13, 2017.
    </p>
    <p>
      <br>
      <br>
      <br>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURE</font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.</font>
    </p>
    <p>

    </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="text-align: left; width: 46%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 13, 2017
          </p>
        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Nordson Corporation
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

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          &#160;
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

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        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

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          &#160;
        </td>
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        <td style="text-align: left; width: 6%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ Gregory A. Thaxton</u>
          </p>
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Gregory A. Thaxton
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Senior Vice President, Chief
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
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          Page 2
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          <hr style="color: black; height: 1.5pt">

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      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      Form 8-K<br>Exhibit Index<br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td style="text-align: left; width: 14%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit<br><u>Number</u>
          </p>
        </td>
        <td style="width: 86%">

        </td>
      </tr>
      <tr>
        <td style="width: 14%">

        </td>
        <td style="text-align: left; width: 86%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; white-space: nowrap; width: 14%; padding-right: 0.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51729749ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="text-align: left; width: 86%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51729749ex99_1.htm">Press release of Nordson Corporation
            dated as of December 13, 2017.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      Page 3
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51729749ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Nordson
      Corporation Reports Fiscal Year 2017 Fourth Quarter and Full Year Results</b></font>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
      Quarter:</b></font></i></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter sales increased 13 percent over prior year&#8217;s fourth quarter to
        $574 million</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter operating profit increased 13 percent over prior year&#8217;s fourth
        quarter to $125 million and is inclusive of $6 million of intangible
        asset amortization expense for fiscal 2017 acquisitions</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter GAAP diluted EPS increased 5 percent over prior year&#8217;s fourth
        quarter to $1.37, inclusive of $0.07 per diluted share of intangible
        asset amortization expense for fiscal 2017 acquisitions</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter EBITDA increased 17 percent over prior year&#8217;s fourth quarter
        to $150 million</b></font></i>
      </li>
    </ul>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Full
      Year:</b></font></i></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Full
        year sales, operating profit, diluted EPS, and EBITDA are company
        records</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Full
        year sales of $2.1 billion included 8 percent organic growth, with
        operating profit and EBITDA growth over the prior year of 18 percent
        and 19 percent, respectively</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>GAAP
        diluted EPS increased 7 percent to $5.08, and adjusted diluted EPS
        increased 15 percent to $5.37, all compared to the prior year. Full
        year GAAP diluted EPS and adjusted diluted EPS includes a charge of
        $0.18 per diluted share related to intangible asset amortization
        expense for fiscal 2017 acquisitions.</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>First
        quarter 2018 guidance: sales expected to increase 30 to 34 percent
        over prior year; GAAP diluted EPS in the range of $1.29 to $1.39;
        EBITDA in the range of $141 to $150 million</b></font></i>
      </li>
    </ul>
    <p>
      WESTLAKE, Ohio--(BUSINESS WIRE)--December 13, 2017--Nordson Corporation<b>
      </b>(Nasdaq: NDSN) today reported results for the fourth quarter of
      fiscal year 2017. For the quarter ending October 31, 2017, sales were
      $574 million, a 13 percent increase over the prior year&#8217;s fourth
      quarter. This change in sales included a 2 percent increase in organic
      volume, a 10 percent increase related to the first year effect of
      acquisitions, and a 1 percent increase related to the favorable effects
      of currency translation as compared to the prior year&#8217;s fourth quarter.
      Reported operating profit was $125 million, net income was $80 million,
      and GAAP diluted earnings per share were $1.37, inclusive of a $0.01 per
      share charge related to one-time items. Prior year fourth quarter sales,
      operating profit, net income and GAAP diluted earnings per share were
      $509 million, $111 million, $76 million and $1.31, respectively. A
      reconciliation of GAAP diluted EPS to adjusted diluted EPS is included
      in the attached financial exhibits.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

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      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Fourth quarter EBITDA increased 17 percent over the prior year fourth
      quarter to $150 million, or 26 percent of sales as compared to 25
      percent in the prior year fourth quarter. Free cash flow before
      dividends was $111 million in the quarter, or 139 percent of net income.
      Calculations for EBITDA, adjusted EBITDA, free cash flow before
      dividends, and adjusted free cash flow before dividends are included in
      the attached exhibits.
    </p>
    <p>
      &#8220;Nordson delivered strong results in the quarter against very
      challenging prior year comparisons where total company organic sales
      growth was 13 percent,&#8221; said Michael F. Hilton, Nordson President and
      Chief Executive Officer. &#8220;Driven largely by robust demand in electronics
      end markets within the Advanced Technology segment, results for the
      quarter exceeded our guidance.&#8221;
    </p>
    <p>
      &#8220;This increase in volume, coupled with our continuous improvement
      initiatives, contributed to EBITDA margin improvement of 1 percentage
      point as compared to the prior year&#8217;s fourth quarter to 26 percent of
      sales,&#8221; Hilton added. &#8220;The current quarter&#8217;s reported diluted earnings
      per share and adjusted diluted earnings per share include intangible
      asset amortization expense of $6 million, or $0.07 per diluted share,
      related to fiscal 2017 acquisitions. These acquisitions continue to
      perform as expected and strengthen our position in various profitable
      growth sectors.&#8221;
    </p>
    <p>
      <u><b>Fourth Quarter Segment Results</b></u>
    </p>
    <p>
      Adhesive Dispensing Systems sales increased 6 percent compared to the
      prior year&#8217;s fourth quarter, inclusive of 4 percent organic growth and 2
      percent related to the favorable effects of currency translation. &#8220;This
      marks the tenth consecutive quarter of organic growth in this segment.
      This is excellent performance, particularly against strong performance a
      year ago,&#8221; said Hilton. &#8220;All product lines and nearly every region
      contributed to the current quarter&#8217;s growth.&#8221; Reported operating margin
      in the segment improved 4 percentage points from the prior year to 28
      percent in the quarter. The current quarter&#8217;s results for the segment
      include non-recurring restructuring charges of approximately $1 million
      related to a previously announced facility consolidation.
    </p>
    <p>
      Advanced Technology Systems sales volume increased 29 percent compared
      to the prior year&#8217;s fourth quarter, including a 4 percent increase in
      organic volume and a 25 percent increase related to the first year
      effect of acquisitions. The effects of currency translation were
      immaterial. &#8220;Organic growth for this segment exceeded expectations in
      the current quarter and compares to an exceptional quarter a year ago
      where organic growth was 30 percent,&#8221; said Hilton. The quarter&#8217;s
      acquisitive growth includes one month of the fiscal 2016 LinkTech
      acquisition and the fiscal 2017 acquisitions of ACE, InterSelect,
      Plas-Pak and Vention Medical. Reported operating margin in the segment
      was 24 percent in the quarter, or 26 percent on an adjusted basis to
      exclude $6 million of intangible asset amortization expense related to
      current year acquisitions.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Industrial Coating Systems sales volume decreased 8 percent compared to
      the prior year&#8217;s fourth quarter, where organic growth was 12 percent.
      The effects of currency translation were immaterial. &#8220;Growth in most
      product lines was offset by strong prior year performance in our cold
      material product lines,&#8221; said Hilton. Reported operating margin in the
      segment was 18 percent.
    </p>
    <p>
      Detailed results by operating segment and geography are included in the
      attached financial exhibits.
    </p>
    <p>
      <u><b>Fiscal 2017 Full Year Results</b></u>
    </p>
    <p>
      Sales for the fiscal year ended October 31, 2017 were $2.1 billion, an
      increase of 14 percent compared to the same period a year ago. This
      change in sales included organic volume growth of 8 percent and a 7
      percent increase related to the first year effect of acquisitions,
      offset by a 1 percent impact due to the unfavorable effects of currency
      translation. Full year operating profit increased 18 percent to $458
      million, net income was $296 million, and GAAP diluted earnings per
      share were $5.08, or $5.37 on a normalized basis to exclude one-time
      items. Prior year sales, operating profit, net income, and GAAP diluted
      earnings per share were $1.8 billion, $388 million, $272 million, and
      $4.73, respectively.
    </p>
    <p>
      &#8220;Full year organic growth of 8 percent against a very challenging prior
      year where we generated organic growth of 7 percent is outstanding
      performance and reflective of both the value we bring to our customers
      and the quality of the global Nordson team,&#8221; said Hilton. &#8220;In addition
      to executing on driving growth initiatives we also delivered on
      increasing performance where, excluding one-time charges highlighted in
      the EPS reconciliation financial exhibit and approximately $15 million
      of intangible asset amortization expense for fiscal 2017 acquisitions,
      operating margin improved from 22 percent to 24 percent.&#8221;
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Full year EBITDA increased 19 percent to $547 million and adjusted
      EBITDA increased 22 percent to $565 million, both compared to the prior
      year. EBITDA margin and adjusted EBITDA margin were 26 percent and 27
      percent, respectively, both up over 100 basis points as compared to the
      prior year. Free cash flow before dividends of $282 million is 95
      percent of net income, or 100 percent on an adjusted free cash flow
      basis. In addition to funding organic and acquisitive growth
      initiatives, Nordson paid $64 million in dividends for a full year
      payout ratio of 22 percent and reduced leverage on the balance sheet to
      just under 2.5 times trailing-twelve-months EBITDA.
    </p>
    <p>
      <u><b>Backlog</b></u>
    </p>
    <p>
      Backlog for the quarter ended October 31, 2017 was approximately $402
      million, an increase of 45 percent compared to the same period a year
      ago, inclusive of 28 percent organic growth and 17 percent growth due to
      acquisitions. Backlog amounts are calculated at October 31, 2017
      exchange rates.
    </p>
    <p>
      <u><b>Outlook</b></u>
    </p>
    <p>
      For the first quarter of fiscal 2018, sales are expected to increase 30
      percent to 34 percent compared to the first quarter a year ago. This
      growth includes organic volume up 15 percent to 19 percent, 11 percent
      growth from the first year effect of acquisitions, and a positive
      currency effect of 4 percent based on the current exchange rate
      environment. At the midpoint of this outlook, operating margin is
      expected to be approximately 22 percent and GAAP diluted earnings per
      share are expected to be in the range of $1.29 to $1.39, inclusive of $6
      million or $0.07 per diluted share of intangible asset amortization
      expense related to fiscal 2017 acquisitions. EBITDA and EBITDA margin
      are expected to be $146 million and 27 percent at the midpoint of the
      guidance, respectively.
    </p>
    <p>
      &#8220;Our first quarter guidance is very strong, reflective of our current
      backlog, and is largely driven by the Advanced Technology segment, where
      strong demand in electronics and medical end markets is driving
      performance,&#8221; said Hilton. &#8220;This exceptional growth against very
      challenging comparisons to the same period a year ago where we generated
      10 percent total company organic growth is a result of our technology
      leadership and diversification efforts. The short cycle nature of our
      end markets does not provide much visibility beyond a fiscal quarter,
      however, we do expect growth rates to moderate beyond our first quarter,
      particularly when you consider our challenging comparisons to prior
      year.&#8221;
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Nordson management will provide additional commentary on these results
      and outlook during a conference call Thursday, December 14, 2017 at 8:30
      a.m. eastern time which can be accessed at <u>www.nordson.com/investors</u>.
      For persons unable to listen to the live broadcast, a replay will be
      available for 14 days after the event. Information about Nordson&#8217;s
      investor relations and shareholder services is available from Gregory A.
      Thaxton, Senior Vice President and Chief Financial Officer at (440)
      414-5388 or <u>greg.thaxton@nordson.com</u>.
    </p>
    <p>
      Except for historical information and comparisons contained herein,
      statements included in this release may constitute &#8220;forward-looking
      statements,&#8221; as defined by the Private Securities Litigation Reform Act
      of 1995. These statements involve a number of risks, uncertainties and
      other factors, as discussed in the company&#8217;s filing with the Securities
      and Exchange Commission that could cause actual results to differ.
    </p>
    <p>
      Nordson Corporation engineers, manufactures and markets differentiated
      products and systems used for the precision dispensing of adhesives,
      coatings, sealants, biomaterials, polymers, plastics and other
      materials, fluid management, test and inspection, UV curing and plasma
      surface treatment, all supported by application expertise and direct
      global sales and service. Nordson serves a wide variety of consumer
      non-durable, durable and technology end markets including packaging,
      nonwovens, electronics, medical, appliances, energy, transportation,
      construction, and general product assembly and finishing. Founded in
      1954 and headquartered in Westlake, Ohio, the company has operations and
      support offices in more than 35 countries. Visit Nordson on the web at <u>http://www.nordson.com</u>,
      @Nordson_Corp, or <u>www.facebook.com/nordson</u>.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>NORDSON CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            FINANCIAL HIGHLIGHTS
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Dollars in thousands except for per-share amounts)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="11">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            FOURTH QUARTER PERIOD
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Period Ending October 31, 2017
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>CONSOLIDATED STATEMENT OF INCOME</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Year-to-Date
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          573,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          509,283
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,066,982
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,808,994
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          261,850
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          234,316
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          927,981
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          815,495
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Selling &amp; administrative expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          187,300
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          164,104
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          681,299
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          605,068
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          124,788
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          110,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          457,702
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          388,431
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest expense - net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (11,436
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5,606
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (35,477
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (20,594
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other income (expense) - net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (482
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          106
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (1,934
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          657
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          112,870
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          105,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          420,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          368,494
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          33,035
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          29,496
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          124,489
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          96,651
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Net Income
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          79,835
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          75,867
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          295,802
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          271,843
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Return on sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          14
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          14
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Return on average shareholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          29
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          36
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          30
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          37
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Average common shares outstanding (000's)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,643
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,533
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,060
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Average common shares and common share equivalents (000's)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          58,301
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,864
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          58,204
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,530
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Per share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Basic earnings
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.38
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.33
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.14
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4.76
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Diluted earnings
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.31
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4.73
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Dividends paid
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          .30
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          .27
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          .99
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Total dividends
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15,428
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          63,840
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          56,436
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="7">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>CONSOLIDATED BALANCE SHEET</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="2">
          October 31
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="2">
          October 31
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2016
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash and marketable securities
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          90,383
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          67,239
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          505,087
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          428,560
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          264,266
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          220,361
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          28,636
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          29,415
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          888,372
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          745,575
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property, plant &amp; equipment - net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          346,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          273,129
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,179,756
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,401,879
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,414,539
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,420,583
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Notes payable and debt due within one year
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          326,587
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          40,234
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Accounts payable and accrued liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          321,159
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          291,309
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          647,746
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          331,543
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,256,397
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          942,771
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          354,903
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          294,666
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Total shareholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,155,493
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          851,603
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          3,414,539
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,420,583
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other information:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Employees
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,532
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6,127
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Common shares outstanding (000's)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,715
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57,307
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td colspan="8">

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>NORDSON CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            FINANCIAL HIGHLIGHTS
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Dollars in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td colspan="8">

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            FOURTH QUARTER PERIOD
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Period Ending October 31, 2017
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="35">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="8">
          % Growth over 2016
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Year-to-Date
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="8">
          % Growth over 2016
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>SALES BY BUSINESS SEGMENT</u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Volume
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Currency
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Total
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Volume
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Currency
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Total
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adhesive dispensing systems
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          247,873
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          234,305
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3.8
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.8
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          916,019
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          879,573
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4.3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -0.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Advanced technology systems
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          251,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          194,542
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          29.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          29.4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          897,623
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          676,329
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          33.4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -0.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          32.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Industrial coating systems
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          74,349
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          80,436
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -8.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          0.5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -7.6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          253,340
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          253,092
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          0.8
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -0.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          0.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Total sales by business segment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          573,938
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          509,283
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          11.6
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.1
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          12.7
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,066,982
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,808,994
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          14.8
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -0.5
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          14.3
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Year-to-Date
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>OPERATING PROFIT BY BUSINESS SEGMENT</u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adhesive dispensing systems
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          68,354
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          55,383
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          253,580
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          229,143
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Advanced technology systems
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          60,008
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          49,712
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          228,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          159,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Industrial coating systems
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13,462
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          18,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          43,991
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          43,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Corporate
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (17,036
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (12,662
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (67,931
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (43,754
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Total operating profit by business segment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          124,788
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          110,863
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          457,702
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          388,431
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="8">
          % Growth over 2016
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Year-to-Date
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="8">
          % Growth over 2016
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>SALES BY GEOGRAPHIC REGION</u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Volume
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Currency
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Total
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Volume
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Currency
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          Total
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          United States
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          183,088
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          147,397
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          24.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          24.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          647,657
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          531,117
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          21.9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          21.9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Americas
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          39,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          33,834
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15.4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          147,026
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          124,657
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          18.0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -0.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17.9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          149,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          129,635
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9.3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          530,812
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          503,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -0.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Japan
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          50,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          38,476
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          42.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -11.0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          31.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          147,189
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          122,054
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          24.5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -3.9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20.6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Asia Pacific
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          151,771
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          159,941
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -6.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          1.0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -5.1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          594,298
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          527,297
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          13.2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          -0.5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          12.7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Total Sales by Geographic Region
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          573,938
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          509,283
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          11.6
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.1
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          12.7
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,066,982
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,808,994
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          14.8
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -0.5
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          14.3
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="7">
          Year-to-Date
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>FREE CASH FLOW BEFORE DIVIDENDS</u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          79,835
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          75,867
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          295,802
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          271,843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          25,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17,480
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          90,854
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          70,304
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other non-cash charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          23,644
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,100
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          26,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20,313
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Changes in operating assets and liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          4,515
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          35,977
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (63,668
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (31,302
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          133,482
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          136,424
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          349,673
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          331,158
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Additions to property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (22,234
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (15,399
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (71,558
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (60,851
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Proceeds from the sale of property, plant and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          101
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          256
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          4,007
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,300
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Free cash flow before dividends
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          111,349
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          121,281
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          282,122
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          271,607
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjustments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px; padding-bottom: 2.0px" valign="top">
          Acquisition costs and adjustments, net of tax<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          152
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          12,695
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1,486
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Free cash flow before dividends, adjusted
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          111,349
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          121,433
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          294,817
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          273,093
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup>(1)</sup>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Represents one-time costs, net of tax, associated with our 2017
            and 2016 acquisitions, including the step up in the value of
            acquired inventory and acquisition transaction costs that are
            required to be expensed as incurred.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>NORDSON CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <p style="margin-bottom: 0px; margin-top: 0px">
            RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Dollars in thousands except for per-share amounts)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          FOURTH QUARTER PERIOD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Period Ending October 31, 2017
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="13">
          (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          EBITDA and EBITDA per diluted share
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="5">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="5">
          Year-to-Date
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2017
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2016
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          79,835
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          75,867
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          295,802
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          271,843
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjustments:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Depreciation and amortization expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          25,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17,480
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          90,854
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          70,304
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          11,436
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,606
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          35,477
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20,594
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px; padding-bottom: 2.0px" valign="top">
          Income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          33,035
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          29,496
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          124,489
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          96,651
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          EBITDA
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          149,794
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          128,449
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          546,622
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          459,392
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjustments:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px; padding-bottom: 2.0px" valign="top">
          Acquisition costs and adjustments <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          211
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          17,898
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2,099
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          EBITDA As Adjusted
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          149,794
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          128,660
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          564,520
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          461,491
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          EBITDA per diluted share
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2.57
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2.22
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          9.39
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          7.99
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          EBITDA As Adjusted per diluted share
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2.57
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          2.22
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          9.70
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          8.02
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup>(1) </sup>Represents one-time costs associated with our 2017
            and 2016 acquisitions, including the step up in the value of
            acquired inventory and acquisition transaction costs that are
            required to be expensed as incurred.
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          EBITDA and EBITDA per diluted share are non-GAAP financial measures
          used by management to evaluate the Company's ongoing operations.
          EBITDA is defined as earnings before interest, taxes, depreciation
          and amortization and EBITDA As Adjusted is defined as EBITDA plus
          certain acquisition costs and adjustments. EBITDA per diluted share
          is defined as EBITDA divided by the Company's diluted weighted
          average shares outstanding. EBITDA As Adjusted per diluted share is
          defined as EBITDA As Adjusted divided by the Company's diluted
          weighted average shares outstanding.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="5">
          Fourth Quarter
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom" colspan="6">
          Year-to-Date
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2017
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="2">
          2017
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom" colspan="3">
          2016
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Diluted EPS as reported (U.S. GAAP)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.37
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.31
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5.08
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4.73
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Short-term inventory purchase accounting adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.05
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.03
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.17
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Severance and restructuring
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.13
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Litigation settlement
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.01
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Discrete tax items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (0.19
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other pre-tax items related to discrete tax benefits
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          (0.01
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Diluted EPS as adjusted (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.38
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          1.39
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          5.37
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; border-bottom-color: black; padding-left: 0.0px" valign="bottom">
          4.68
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjusted Diluted EPS is not a measurement of financial performance
          under GAAP, and should not be considered as an alternative to EPS
          determined in accordance with GAAP. Management believes that EPS as
          adjusted to exclude the items in the table above assist in
          understanding the results of Nordson Corporation. Our calculations
          of this non-GAAP financial measure may not be comparable to the
          calculations of similarly titled measures reported by other
          companies.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Nordson Corporation<br>Gregory A. Thaxton, 440-414-5388<br>Senior
      Vice President and Chief Financial Officer<br><u>Greg.Thaxton@nordson.com</u>
    </p>
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</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
