Business
Novanta Announces Financial Results for the First Quarter 2020
First Quarter 2020 GAAP Revenue of $155.5 million First Quarter 2020 GAAP Net Income of $11.9 million First Quarter 2020 GAAP Diluted Earnings Per Share of
About this update from Novanta Inc.
[{"type":"text","content":"\n\nFirst Quarter 2020 GAAP Revenue of $155.5 million\n\n\nFirst Quarter 2020 GAAP Net Income of $11.9 million\n\n\nFirst Quarter 2020 GAAP Diluted Earnings Per Share of $0.34\n\n\nFirst Quarter 2020 Adjusted Earnings Per Share of $0.51\n\n\nFirst Quarter 2020 Adjusted EBITDA of $27.6 million\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the first quarter 2020.\n\n\n\n\nFinancial Highlights\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\nApril 3,\n\n\n\n \n\n\n\n \n\n\n\nMarch 29,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n\n\nGAAP\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n155.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n157.2\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n13.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n14.4\n\n\n\n \n\n\n\n\n\nConsolidated Net Income\n\n\n\n$\n\n\n\n11.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n12.3\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.34\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.35\n\n\n\n \n\n\n\n\n\nNon-GAAP*\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n$\n\n\n\n21.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n22.8\n\n\n\n \n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n$\n\n\n\n0.51\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.53\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n27.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n28.2\n\n\n\n \n\n\n\n\n\n*Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures included in this press release and the reasons for their use, are presented below.\n\n\nFirst Quarter\n\n\n“We are pleased with the company’s performance in the first quarter, especially considering the significant challenges caused by the COVID-19 pandemic. In the first quarter, we delivered above our guidance for revenue, Adjusted EBITDA, and Adjusted EPS, and I am very proud of how our employees have stepped up and pulled together in the face of adversity,” said Matthijs Glastra, Chief Executive Officer of Novanta. “Our most important concern is the health and well-being of our employees, and we have taken swift a...