<SEC-DOCUMENT>0001157523-18-001162.txt : 20180521
<SEC-HEADER>0001157523-18-001162.hdr.sgml : 20180521
<ACCEPTANCE-DATETIME>20180521163122
ACCESSION NUMBER:		0001157523-18-001162
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180521
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180521
DATE AS OF CHANGE:		20180521

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:		18850019

	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>a51809747.htm
<DESCRIPTION>NORDSON CORPORATION
<TEXT>
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      <font style="font-size: 14pt"><b>UNITED STATES</b></font><br><font style="font-size: 14pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 14pt"><b>Washington,
      D.C. 20549</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>FORM 8-K</b></font><br><font style="font-size: 14pt"><b>CURRENT
      REPORT</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
    </p>
    <p style="text-align: center">
      Date of Report (Date of earliest event reported):<b> May 21, 2018</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>NORDSON CORPORATION</b></font><br>(Exact
      Name of Registrant as Specified in its Charter)
    </p>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="width: 35%; padding-left: 0.0px; text-align: center">
          <b>Ohio</b>
        </td>
        <td valign="bottom" style="width: 30%; padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap">
          <b>0-7977</b>
        </td>
        <td valign="bottom" style="width: 35%; padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap">
          <b>34-0590250</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 35%; padding-left: 0.0px; text-align: center">
          (State or Other

          <p style="margin-top: 0px; margin-bottom: 0px">
            Jurisdiction of Incorporation)
          </p>
        </td>
        <td valign="top" style="width: 30%; padding-left: 0.0px; text-align: center">
          (Commission File Number)
        </td>
        <td valign="bottom" style="width: 35%; padding-left: 0.0px; text-align: center">
          (I.R.S. Employer

          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification Number)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="text-align: center">
          <b>28601 Clemens Road</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center">
          <b>Westlake, Ohio 44145</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center">
          (Address of Principal Executive Offices, including Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      Registrant&#8217;s Telephone Number, including Area Code: <b>440-892-1580</b>
    </p>
    <p>

    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">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:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Indicate by
      check mark whether the registrant is an emerging growth company as
      defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
      chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter). </font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Emerging
      growth company </font><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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.</font> <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>

    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

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

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

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

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

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="width: 10%; padding-left: 0.0px; text-align: left">
          <b>Item 2.02.</b>
        </td>
        <td valign="top" style="width: 90%; padding-left: 0.0px; text-align: left">
          <b>Results of Operations and Financial Condition</b>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap">
      On May 21, 2018, Nordson Corporation issued a press release relating to
      its results of operations for the second quarter of fiscal 2018.&#160;&#160;A copy
      is attached as Exhibit 99.1.<br><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="width: 10%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01.</b>
          </p>
        </td>
        <td valign="top" style="width: 90%; padding-left: 0.0px; text-align: left">
          <b>Financial Statements and Exhibits.</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>(d) Exhibits</b><br><br>
    </p>
    <p>
      <a href="a51809747ex99_1.htm">99.1</a>&#160;&#160;&#160;&#160;<a href="a51809747ex99_1.htm">Press
      release of Nordson Corporation dated May 21, 2018.</a>
    </p>
    <p>

    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

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

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

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

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

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">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 hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
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        </td>
        <td valign="bottom" style="width: 45%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <b>NORDSON CORPORATION</b>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        </td>
        <td valign="bottom" style="width: 45%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="width: 3%; padding-left: 0.0px; text-align: left">

        </td>
        <td style="width: 37%">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Date:
        </td>
        <td valign="top" style="width: 45%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          May 21, 2018
        </td>
        <td valign="top" style="width: 3%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          By:
        </td>
        <td valign="top" style="width: 37%; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid">
          /s/ Gregory A. Thaxton
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td valign="bottom" style="width: 5%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="width: 45%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="width: 3%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="width: 37%; padding-left: 0.0px; text-align: left">
          Gregory A. Thaxton
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 5%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="width: 45%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="width: 3%; padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="width: 37%; padding-left: 0.0px; text-align: left">
          <i>Executive Vice President</i>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Chief Financial Officer</i>
          </p>
        </td>
        <td style="width: 10%">

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

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51809747ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Nordson
      Corporation Reports Record Second Quarter Sales, Operating Profit,
      Diluted Earnings per Share, and EBITDA</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Sales
        increased 12 percent over prior year&#8217;s second quarter to $554 million</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Operating
        profit increased 22 percent over prior year&#8217;s second quarter to $127
        million and is inclusive of $4 million of incremental intangible asset
        amortization expense over prior year related to acquisitions</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Second
        quarter EBITDA increased 28 percent over prior year&#8217;s second quarter
        to $157 million</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>GAAP
        diluted EPS increased 40 percent over prior year&#8217;s second quarter to
        $1.55; adjusted diluted EPS of $1.56 increased 16 percent over prior
        year&#8217;s second quarter</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Third
        quarter 2018 guidance: sales expected to be in the range of up 1
        percent to down 3 percent over prior year; GAAP diluted EPS in the
        range of $1.47 to $1.63; EBITDA in the range of $155 to $168 million</b></font></i>
      </li>
    </ul>
    <p>
      WESTLAKE, Ohio--(BUSINESS WIRE)--May 21, 2018--Nordson Corporation<b> </b>(Nasdaq:
      NDSN) today reported results for the second quarter of fiscal year 2018.
      For the quarter ended April 30, 2018, sales were $554 million, a 12
      percent increase over the prior year&#8217;s second quarter. This change in
      sales included a decrease of approximately 1 percent in organic volume,
      growth related to the first year effect of acquisitions of approximately
      7 percent, and an increase related to the favorable effects of currency
      translation as compared to the prior year&#8217;s second quarter of 5 percent.
      Reported operating profit was $127 million, net income was $91 million,
      and GAAP diluted earnings were $1.55 per share. Prior year second
      quarter sales, operating profit, net income and GAAP diluted earnings
      per share were $496 million, $104 million, $65 million and $1.11,
      respectively. A reconciliation of GAAP diluted earnings per share to
      adjusted diluted earnings per share and calculations for EBITDA,
      adjusted EBITDA, free cash flow before dividends, and adjusted free cash
      flow before dividends are included in the attached financial exhibits.
    </p>
    <p>
      &#8220;These results highlight the strategic fit of our recent acquisitions,
      along with the resilient performance of our base business, particularly
      against very challenging prior year comparisons where total company
      organic sales growth was 9 percent in the second quarter,&#8221; said Michael
      F. Hilton, Nordson President and Chief Executive Officer. &#8220;Our global
      team helped to deliver record second quarter sales, operating profit,
      diluted earnings per share, and EBITDA. Adjusted EBITDA margin improved
      about 100 basis points, as compared to the prior year&#8217;s second quarter
      adjusted EBITDA margin, to 29 percent of sales,&#8221; Hilton added.
    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 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>
      The current quarter&#8217;s results include incremental intangible asset
      amortization expense of $4 million over the prior year second quarter,
      or $0.05 per diluted share, and charges of approximately $2 million, or
      $0.03 per diluted share, for short-term purchase accounting related to
      the step-up in value of acquired inventory and $1 million, or $0.01 per
      diluted share, of non-recurring restructuring charges. Additionally, a
      discrete tax benefit of approximately $2 million, or $0.04 per diluted
      share, was recognized in the quarter for excess tax benefits related to
      share-based payment transactions which are credited to income tax
      expense.
    </p>
    <p>
      <u><b>Second Quarter Segment Results</b></u>
    </p>
    <p>
      Adhesive Dispensing Systems sales increased 5 percent compared to the
      prior year&#8217;s second quarter, inclusive of a decrease of 2 percent in
      organic volume and a 7 percent increase related to the favorable effects
      of currency translation as compared to the prior year. Reported
      operating margin in the segment was 29 percent, or 30 percent on an
      adjusted basis to exclude non-recurring restructuring charges of $1
      million related to a previously announced U.S. facility consolidation.
    </p>
    <p>
      Advanced Technology Systems sales increased 19 percent compared to the
      prior year&#8217;s second quarter, including a 1 percent decrease in organic
      volume, a 17 percent increase related to the first year effect of
      acquisitions, and a 3 percent increase related to the favorable effects
      of currency translation as compared to the prior year. The second
      quarter&#8217;s acquisitive growth includes a partial month of the fiscal 2017
      acquisition of InterSelect GmbH, two months of the fiscal 2017
      acquisition of Vention Medical, and the fiscal 2018 acquisition of
      Sonoscan. Reported operating margin in the segment was 23 percent in the
      quarter, or 26 percent on an adjusted basis to exclude $4 million of
      incremental intangible asset amortization expense and $2 million of
      short-term purchase accounting charges related to the step-up in value
      of acquired inventory from the Sonoscan acquisition.
    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 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 increased approximately 9 percent
      compared to the prior year&#8217;s second quarter, including approximately 4
      percent organic growth and approximately 4 percent increase due to the
      favorable effects of currency translation as compared to the prior year.
      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>
      &#8220;Sales growth for the quarter is reflective of a very strong prior year.
      I am pleased with our team&#8217;s operating performance, where each segment
      delivered strong operating margins, driving record total company second
      quarter operating profit,&#8221; said Hilton.
    </p>
    <p>
      <u><b>Backlog</b></u>
    </p>
    <p>
      Backlog for the quarter ended April 30, 2018 was approximately $460
      million, an increase of 11 percent compared to the same period a year
      ago, inclusive of 10 percent organic growth and 1 percent growth due to
      acquisitions. Backlog amounts are calculated at April 30, 2018 exchange
      rates and include acquisitions that closed prior to the end of the
      second quarter of fiscal 2018.
    </p>
    <p>
      <u><b>Outlook</b></u>
    </p>
    <p>
      For the third quarter of fiscal 2018, sales are expected to be in the
      range of up 1 percent to down 3 percent compared to the third quarter a
      year ago. This outlook includes a range for organic volume to be down 2
      to 6 percent, 1 percent growth from the first year effect of
      acquisitions, and a positive currency effect of 2 percent based on the
      current exchange rate environment as compared to the prior year. At the
      midpoint of this outlook, operating margin is expected to be
      approximately 23 percent. GAAP diluted earnings per share are expected
      to be in the range of $1.47 to $1.63, with an estimated effective tax
      rate of approximately 25 percent. At the midpoint of the guidance,
      EBITDA and EBITDA margin are expected to be $161 million and 28 percent,
      respectively.
    </p>
    <p>
      &#8220;As with our recently completed quarter, we are up against very
      challenging comparisons to an exceptionally strong prior year third
      quarter, where total company organic sales growth was 11 percent,&#8221; said
      Hilton. &#8220;Our global team remains committed to delivering the best
      technology solutions while employing continuous improvement initiatives
      to drive bottom line results, and we expect to generate total company
      organic sales growth in the low single-digits on a full year basis for
      fiscal 2018.&#8221;
    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

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

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

        </div>
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      <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 Tuesday, May 22, 2018 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 Lara
      Mahoney, Vice President, Investor Relations &amp; Corporate Communications
      at (440) 414-5639 or <u>lara.mahoney@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="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>NORDSON CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 0px">
            FINANCIAL HIGHLIGHTS
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Dollars in thousands except for per-share amounts)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 0px">
            SECOND QUARTER PERIOD
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Period Ending April 30, 2018
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="17">
          <p style="margin-top: 0px; margin-bottom: 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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>CONSOLIDATED STATEMENT OF INCOME</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="4">

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          553,706
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          496,137
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,104,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          903,607
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          246,878
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          220,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          496,299
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          402,957
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          180,123
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          171,981
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          363,403
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          321,201
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Operating profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          126,705
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          103,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          244,428
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          179,449
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Interest expense - net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (11,908
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (7,635
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (22,936
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (13,003
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Other income (expense) - net
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          3,322
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (1,323
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          145
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (1,480
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          118,119
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          94,573
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          221,637
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          164,966
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          26,884
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          30,050
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          25,847
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          50,455
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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 valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Net Income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          91,235
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          64,523
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          195,790
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          114,511
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Return on sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          16
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          13
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Return on average shareholders' equity
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          28
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          31
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          25
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </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="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" 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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Average common shares outstanding (000's)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          57,989
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          57,545
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          57,870
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          57,445
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,945
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,908
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,126
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Basic earnings
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.38
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.99
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.55
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.32
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.97
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Dividends paid
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          .54
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total dividends
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          17,376
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          15,524
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          34,697
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          30,999
        </td>
        <td>

        </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>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="2">
          April 30
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          2018
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          155,946
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          512,389
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          284,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          264,266
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          31,323
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          28,636
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          984,021
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          359,489
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          346,411
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2,195,706
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          3,539,216
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          226,587
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          326,587
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Accounts payable and accrued liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          308,074
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          321,159
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          534,661
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,312,459
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          329,186
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          354,903
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Total shareholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          1,362,910
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          3,539,216
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          3,414,539
        </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 valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </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>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7,548
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,092
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

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

        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="35">
          SECOND QUARTER PERIOD
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="35">
          Period Ending April 30, 2018
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="35">
          (Unaudited)
        </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>
          &#160;
        </td>
        <td colspan="2">

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

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

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="8">
          % Growth over 2017
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="8">
          % Growth over 2017
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>SALES BY BUSINESS SEGMENT</u>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          238,775
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          226,943
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          6.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          5.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          459,639
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          434,780
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          -0.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          6.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          5.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Advanced technology systems
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          250,839
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          210,142
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          16.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          19.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          522,540
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          355,502
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          43.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          47.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Industrial coating systems
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          64,092
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          59,052
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          8.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          121,951
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          113,325
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </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 valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Total sales by business segment
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          553,706
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          496,137
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          6.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          5.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          1,104,130
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          903,607
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          17.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          4.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          22.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </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 valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="7">
          Second Quarter
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          69,514
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          65,719
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          122,829
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          118,775
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          58,306
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          54,306
        </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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          125,574
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          80,669
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          11,572
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          10,252
        </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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          21,732
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          17,337
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (12,687
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (26,746
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </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-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (25,707
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (37,332
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </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 valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Total operating profit by business segment
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          126,705
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          103,531
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          244,428
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          179,449
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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 valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="7">
          Second Quarter
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="8">
          % Growth over 2017
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="8">
          % Growth over 2017
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>SALES BY GEOGRAPHIC REGION</u>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          178,821
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          156,095
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          14.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          14.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          344,652
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          281,616
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          22.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          22.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Americas
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          38,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          36,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          6.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          73,238
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          66,368
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          8.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          10.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          154,736
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          128,468
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          13.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          20.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          296,674
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          247,627
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          12.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          19.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Japan
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          33,030
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          30,855
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          98,899
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          55,032
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          76.5
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          79.7
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Asia Pacific
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          148,160
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          144,393
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          -1.3
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          290,667
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          252,964
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          10.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          14.9
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          %
        </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 valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Total Sales by Geographic Region
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          553,706
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          496,137
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          6.6
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          5.0
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          1,104,130
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          903,607
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          17.4
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          4.8
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          22.2
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: double; white-space: nowrap">
          %
        </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-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" 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 valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="7">
          Second Quarter
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          91,235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          64,523
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          195,790
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          114,511
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          27,431
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          20,915
        </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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          53,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          39,412
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4,690
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          5,926
        </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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (33,203
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          11,633
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (20,323
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (28,243
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </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-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (3,992
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (21,284
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          103,033
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          63,121
        </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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          212,311
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          144,272
        </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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          Additions to property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (16,368
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (16,950
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (33,049
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (27,029
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          167
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          98
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          235
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          3,598
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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 valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          Free cash flow before dividends
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          86,832
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          46,269
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          179,497
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          120,841
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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 valign="bottom" style="padding-left: 0.0px; text-align: left">
          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 valign="bottom" style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Acquisition costs and adjustments, net of tax<sup>(1)</sup>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          1,832
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          10,986
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2,620
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          11,093
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Free cash flow before dividends, adjusted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          88,664
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          57,255
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          182,117
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          131,934
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <sup>(1) </sup>Represents costs and adjustments associated with
            our 2018 and 2017 acquisitions, including accounting adjustments
            to inventory that were charged to cost of sales when the inventory
            was sold; and transaction-related costs comprising of acquisition
            fees, legal, financial and tax due diligence expenses, and
            valuation costs that are required to be expensed as incurred.
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <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 valign="middle" style="padding-left: 0.0px; text-align: center" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>NORDSON CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="padding-left: 0.0px; text-align: center" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="padding-left: 0.0px; text-align: center" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 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 valign="middle" style="padding-left: 0.0px; text-align: left" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            SECOND QUARTER PERIOD
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="padding-left: 0.0px; text-align: left" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Period Ending April 30, 2018
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="padding-left: 0.0px; text-align: left" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </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 valign="middle" style="padding-left: 0.0px; text-align: left">
          EBITDA
        </td>
        <td>

        </td>
        <td valign="middle" style="padding-left: 0.0px; text-align: center" colspan="5">
          Second Quarter
        </td>
        <td>

        </td>
        <td valign="middle" style="padding-left: 0.0px; text-align: center" colspan="5">
          Year-to-Date
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          2018
        </td>
        <td>

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

        </td>
        <td valign="middle" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          91,235
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          64,523
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          195,790
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          114,511
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          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 valign="bottom" style="padding-left: 15.0px; text-align: left">
          Depreciation and amortization expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          27,431
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          20,915
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          53,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          39,412
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          11,908
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7,635
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          22,936
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          13,003
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left">
          Income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          26,884
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          30,050
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          25,847
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          50,455
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          EBITDA
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          157,458
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          123,123
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          298,289
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          217,381
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          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 valign="bottom" style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Acquisition costs and adjustments <sup>(1)</sup>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2,431
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          15,480
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          3,484
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          15,646
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          EBITDA As Adjusted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          159,889
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          138,603
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          301,773
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          233,027
        </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 valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          EBITDA per diluted share
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2.67
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2.11
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          5.06
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          3.74
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          EBITDA As Adjusted per diluted share
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2.71
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          2.38
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          5.12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          4.01
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <sup>(1) </sup>Represents costs and adjustments associated with
            our 2018 and 2017 acquisitions, including accounting adjustments
            to inventory that were charged to cost of sales when the inventory
            was sold; and transaction-related costs comprising of acquisition
            fees, legal, financial and tax due diligence expenses, and
            valuation costs that are required to be expensed as incurred.
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            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.
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="6">
          Second Quarter
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center" colspan="6">
          Year-to-Date
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          2017
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          2017
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Diluted EPS as reported (U.S. GAAP)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.55
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          3.32
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1.97
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Short-term inventory purchase accounting adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.03
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Acquisition costs
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.16
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.16
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Severance and restructuring
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          0.01
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          U.S. Tax Reform discrete item
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (0.37
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (0.04
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          0.04
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (0.12
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: solid; white-space: nowrap">
          0.04
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left">
          Diluted EPS as adjusted (Non-GAAP)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          1.56
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          1.35
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          2.90
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black; padding-left: 0.0px; text-align: right; border-bottom-style: double; white-space: nowrap">
          2.21
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Adjusted 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 non-GAAP measures may not be comparable to the calculations of
            similarly titled measures reported by other companies. Amounts may
            not add due to rounding.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Nordson Corporation<br>Lara Mahoney, 440-414-5639<br>Vice
      President,<br>Investor Relations &amp; Corporate Communications<br><u>Lara.Mahoney@nordson.com</u>
    </p>
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</SEC-DOCUMENT>
