Business
Novanta Announces Financial Results for the Fourth Quarter and Full Year 2019
Full Year 2019 GAAP Revenue of $626.1 million Full Year 2019 GAAP Net Income of $40.8 million Full Year 2019 GAAP Diluted Earnings Per Share of $1.15 Full
About this update from Novanta Inc.
[{"type":"text","content":"\n\nFull Year 2019 GAAP Revenue of $626.1 million\n\n\nFull Year 2019 GAAP Net Income of $40.8 million\n\n\nFull Year 2019 GAAP Diluted Earnings Per Share of $1.15\n\n\nFull Year 2019 Adjusted Earnings Per Share of $2.14\n\n\nFull Year 2019 Adjusted EBITDA of $120.7 million\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the fourth quarter and full year 2019.\n\n\n\n\nFinancial Highlights\n\n\n\n\nThree Months Ended\nDecember 31,\n\n\n\n \n\n\n\nYear Ended December 31, \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n2019\n\n\n\n\n2018\n\n\n\n\n2019\n\n\n\n\n2018\n\n\n\n\n\nGAAP\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n\n$\n\n\n\n159.7\n\n\n\n \n\n\n\n$\n\n\n\n156.2\n\n\n\n \n\n\n\n$\n\n\n\n626.1\n\n\n\n \n\n\n\n$\n\n\n\n614.3\n\n\n\n\n\nOperating Income\n\n\n\n\n$\n\n\n\n13.0\n\n\n\n \n\n\n\n$\n\n\n\n15.7\n\n\n\n \n\n\n\n$\n\n\n\n55.3\n\n\n\n \n\n\n\n$\n\n\n\n71.0\n\n\n\n\n\nNet Income Attributable to Novanta Inc.\n\n\n\n\n$\n\n\n\n9.2\n\n\n\n \n\n\n\n$\n\n\n\n11.6\n\n\n\n \n\n\n\n$\n\n\n\n40.8\n\n\n\n \n\n\n\n$\n\n\n\n49.1\n\n\n\n\n\nDiluted EPS\n\n\n\n\n$\n\n\n\n0.26\n\n\n\n \n\n\n\n$\n\n\n\n0.33\n\n\n\n \n\n\n\n$\n\n\n\n1.15\n\n\n\n \n\n\n\n$\n\n\n\n1.43\n\n\n\n\n\nNon-GAAP*\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n\n$\n\n\n\n25.4\n\n\n\n \n\n\n\n$\n\n\n\n25.5\n\n\n\n \n\n\n\n$\n\n\n\n99.6\n\n\n\n \n\n\n\n$\n\n\n\n104.7\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n$\n\n\n\n0.55\n\n\n\n \n\n\n\n$\n\n\n\n0.55\n\n\n\n \n\n\n\n$\n\n\n\n2.14\n\n\n\n \n\n\n\n$\n\n\n\n2.15\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n$\n\n\n\n30.5\n\n\n\n \n\n\n\n$\n\n\n\n30.8\n\n\n\n \n\n\n\n$\n\n\n\n120.7\n\n\n\n \n\n\n\n$\n\n\n\n123.8\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“We are pleased with the company’s performance in 2019, despite facing challenges in the industrial capital spending markets. In the fourth quarter, revenue was stronger than expected, and we delivered on our goals for profitabi...