Business
Novanta Announces Financial Results for the Second Quarter 2021
Second Quarter 2021 GAAP Revenue of $168 million Second Quarter 2021 GAAP Consolidated Net Income of $12 million Second Quarter 2021 GAAP Diluted Earnings
About this update from Novanta Inc.
[{"type":"text","content":"\n\nSecond Quarter 2021 GAAP Revenue of $168 million\n\n\nSecond Quarter 2021 GAAP Consolidated Net Income of $12 million\n\n\nSecond Quarter 2021 GAAP Diluted Earnings Per Share of $0.33\n\n\nSecond Quarter 2021 Adjusted Earnings Per Share of $0.62\n\n\nSecond Quarter 2021 Adjusted EBITDA of $37 million\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the second quarter 2021.\n\n\n\nFinancial Highlights\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\nJuly 2,\n\n\n\n \n\n\n\nJuly 3,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n\n\nGAAP\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n167.5\n\n\n\n \n\n\n\n$\n\n\n\n144.7\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n16.0\n\n\n\n \n\n\n\n$\n\n\n\n13.7\n\n\n\n \n\n\n\n\n\nConsolidated Net Income\n\n\n\n$\n\n\n\n11.7\n\n\n\n \n\n\n\n$\n\n\n\n11.7\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.33\n\n\n\n \n\n\n\n$\n\n\n\n0.33\n\n\n\n \n\n\n\n\n\nNon-GAAP*\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n$\n\n\n\n28.7\n\n\n\n \n\n\n\n$\n\n\n\n22.1\n\n\n\n \n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n$\n\n\n\n0.62\n\n\n\n \n\n\n\n$\n\n\n\n0.48\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n37.0\n\n\n\n \n\n\n\n$\n\n\n\n30.8\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“Novanta delivered another quarter of outstanding financial results for the second quarter, with double-digit growth for sales, bookings, and profit,” said Matthijs Glastra, Chairperson and Chief Executive Officer of Novanta. “Customer demand continues to accelerate in advanced industrial and medical application areas, with bookings increasing 77% year over year. Our innovation programs and design wins continued to perform well, building momentum in high growth markets and applications. We continue to be confident in our business’ strategic positioning in secular growth markets, particularly in this economic environ...