Business
Novanta Announces Financial Results for the Third Quarter 2020
Third Quarter 2020 GAAP Revenue of $143 million Third Quarter 2020 GAAP Net Income of $8 million Third Quarter 2020 GAAP Diluted Earnings Per Share of $0.23
About this update from Novanta Inc.
[{"type":"text","content":"\n\nThird Quarter 2020 GAAP Revenue of $143 million\n\n\nThird Quarter 2020 GAAP Net Income of $8 million\n\n\nThird Quarter 2020 GAAP Diluted Earnings Per Share of $0.23\n\n\nThird Quarter 2020 Adjusted Earnings Per Share of $0.42\n\n\nThird Quarter 2020 Adjusted EBITDA of $30 million\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the third quarter 2020.\n\n\n\nFinancial Highlights\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\nOctober 2,\n\n\n\n \n\n\n\n \n\n\n\nSeptember 27,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n\n\nGAAP\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n142.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n154.1\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n11.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n12.8\n\n\n\n \n\n\n\n\n\nConsolidated Net Income\n\n\n\n$\n\n\n\n8.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n8.9\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.23\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.25\n\n\n\n \n\n\n\n\n\nNon-GAAP*\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n$\n\n\n\n19.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n25.6\n\n\n\n \n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n$\n\n\n\n0.42\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.52\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n30.2\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*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\nThird Quarter\n\n“Novanta continues to execute well in the face of the ongoing difficulties caused by the COVID-19 pandemic,” said Matthijs Glastra, Chief Executive Officer of Novanta. “In the third quarter, our revenue and profit did better than we expected, and we delivered record cashflow performance. We are very pleased with the positioning and performance of our portfolio and are investing into the headwinds, focusing on the long-term growth drivers in our business. We continue to put the health and safety of our employees as a priori...