Nordson Corporation

Ladies and gentlemen, thank you for standing by and welcome to the Nordson Corporation third quarter fiscal year 2020 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to Ms. Lara Mahoney. Please go ahead.

Thank you. Good morning. This is Laura Mahoney, Vice President of Investor Relations and Corporate Communications. I'm here with Sundaram Nagarajan, our President and CEO, and Joseph Kelly, Executive Vice President and CFO. We welcome you to our conference call today, Thursday, August 20th, 2020, to report Northen's fiscal year 2020 third quarter results. Our conference call is being broadcast live on our audio webpage at norton.com forward slash investors and will be available there for 14 days. There will be a telephone replay of the conference call available until September 3rd, 2020. During this conference call, references to non-GAAP financial metrics will be made. A complete reconciliation of these metrics to the most comparable GAAP metric has been provided in the press release issued yesterday. Additionally, forward-looking statements may be made regarding our future performance based upon Nordson's current expectations. These statements may involve a number of risks, uncertainties, and other factors as discussed in the company's filings with the Securities and Exchange Commission that could cause actual results to differ. After our remarks on the quarter, we will be happy to take your questions. With that, I'll turn the call over to Naga.

Good morning, everyone. Thank you for joining Nordstrom's fiscal 2020 third quarter conference call. With me today is Joe Kelly, the new Chief Financial Officer of Norton. I'm pleased to welcome Joe to the call this morning. Joe joined Norton on July 6th and brings over 25 years of financial and operational expertise to Norton, most recently serving as Chief Financial Officer of Materion, a global advanced materials company. I'm very excited to have him on board. is already bringing great energy and perspective to our leadership team. First, I want to thank our Norton employees for their continued flexibility, resilience, and commitment as we have navigated 2020. We remain focused on protecting the health and safety of our employees and responding to the needs of our customers. Norton products serve a very diverse set of end markets, including medical, electronics, consumer non-durables, and general industrial. This diversity has helped drive the relative stability of our results to this point in the year. By maintaining new safety measures, our team has risen to the challenge and continues to meet the needs of our customers who depend on us to help them drive efficiencies, enhance innovation, and continuously supply aftermarket parts and consumables that keep their manufacturing lines running smoothly. While we remain focused on managing this dynamic environment, the Norton leadership team and I are equally committed to making progress towards our strategic priorities of accelerating organic growth diversifying through acquisitions, leveraging the Norton business system, and building winning teams. On June 1st, we announced the acquisition of Floratech, a precision plastic extrusion manufacturer in the medical device industry. Floratech brings highly differentiated PTFE medical tubing expertise which is complementary to our current value-added component offering for minimally invasive therapies such as heart valve replacement. Growing our Norton medical business continues to be a priority of our capital deployment strategy. We're pleased to have the Floritec employees as part of the Norton team. Also during the quarter, we continue to develop the next generation of the Norton business system, which we're calling NBS Next, Norton's growth framework. Our new segment realignment, which unleashes an owner mindset at the division level, allows our teams to make decisions as close to the customer as possible. Using critical insights created by segmentation tools in NBS Next, our division leaders were empowered to prioritize investments and simplify non-value-added tasks to deliver best-in-class product quality and delivery. Staying invested in what makes Norton strong, our customer-centric business model and precision technologies will position us to accelerate profitable growth and the economy recovers. I'll speak more about the business in a few moments, But first, I'll turn the call over to Joe to introduce himself and provide a more detailed perspective on our financial results for the quarter.