Novanta Announces Financial Results for the First Quarter 2024

About this update from Novanta Inc.

[{"type":"text","content":"\n\nFirst Quarter 2024 GAAP Revenue of $231 million\n\n\n\nFirst Quarter 2024 GAAP Net Income of $15 million\n\n\n\nFirst Quarter 2024 GAAP Diluted Earnings Per Share of $0.41\n\n\n\nFirst Quarter 2024 Adjusted Earnings Per Share of $0.74\n\n\n\nFirst Quarter 2024 Adjusted EBITDA of $50 million\n\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (“Novanta” or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the first quarter 2024.\n\n\n\n\nFinancial Highlights\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\nMarch 29,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n230.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n219.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n25.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n26.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n14.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n18.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.41\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.51\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-GAAP*\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Operating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n40.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n36.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n\n\n$\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$\n\n\n\n\n\n\n0.74\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n49.7\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\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*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\n\n\n\n\n\n“Novanta achieved great results for th...

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