Business
Novanta Announces Financial Results for the Second Quarter 2020
Second Quarter 2020 GAAP Revenue of $145 million Second Quarter 2020 GAAP Net Income of $12 million Second Quarter 2020 GAAP Diluted Earnings Per Share of
About this update from Novanta Inc.
[{"type":"text","content":"\n\nSecond Quarter 2020 GAAP Revenue of $145 million\n\n\nSecond Quarter 2020 GAAP Net Income of $12 million\n\n\nSecond Quarter 2020 GAAP Diluted Earnings Per Share of $0.33\n\n\nSecond Quarter 2020 Adjusted Earnings Per Share of $0.48\n\n\nSecond Quarter 2020 Adjusted EBITDA of $31 million\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the second quarter 2020.\n\n\n\n\nFinancial Highlights\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\nJuly 3,\n\n\n\n \n\n\n\n \n\n\n\nJune 28,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n\n\nGAAP\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n144.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n155.1\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n13.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n15.1\n\n\n\n \n\n\n\n\n\nConsolidated Net Income\n\n\n\n$\n\n\n\n11.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n10.4\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.33\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.29\n\n\n\n \n\n\n\n\n\nNon-GAAP*\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n$\n\n\n\n22.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n25.8\n\n\n\n \n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n$\n\n\n\n0.48\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.54\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n30.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31.0\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\nSecond Quarter\n\n\n“I am proud of the performance of Novanta in the face of extraordinary circumstances caused by the COVID-19 pandemic,” said Matthijs Glastra, Chief Executive Officer of Novanta. “In the second quarter, we delivered above our expectations for revenue. And we are very pleased with our profit and cash flows in the second quarter in these circumstances. The diversification of our portfolio is serving us well, and we continue to stay vigilant and highly disciplined in protecting our employees, our customers, and...