Business
Novanta Announces Financial Results for the First Quarter 2023
First Quarter 2023 GAAP Revenue increased 7% to $219 million First Quarter 2023 GAAP Net Income of $18 million First Quarter 2023 GAAP Diluted Earnings Per
About this update from Novanta Inc.
[{"type":"text","content":"\n\nFirst Quarter 2023 GAAP Revenue increased 7% to $219 million\n\n\n\nFirst Quarter 2023 GAAP Net Income of $18 million\n\n\n\nFirst Quarter 2023 GAAP Diluted Earnings Per Share of $0.51\n\n\n\nFirst Quarter 2023 Adjusted Earnings Per Share of $0.74\n\n\n\nFirst Quarter 2023 Adjusted EBITDA of $47 million\n\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (“Novanta” or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the first quarter 2023.\n\n\n\n\nFinancial Highlights\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\nMarch 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nApril 1,\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n219.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n204.2\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n26.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n24.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nConsolidated Net Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n18.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n18.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.51\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.53\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-GAAP*\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Operating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n36.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n33.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.74\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.73\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n47.0\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\n43.6\n\n\n\n\n\n\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 presen...