Business
Novanta Announces Financial Results for the Third Quarter 2021
Third Quarter 2021 GAAP Revenue of $177.7 million Third Quarter 2021 GAAP Consolidated Net Income of $14 million Third Quarter 2021 GAAP Diluted Earnings Per
About this update from Novanta Inc.
[{"type":"text","content":"\n\nThird Quarter 2021 GAAP Revenue of $177.7 million\n\n\nThird Quarter 2021 GAAP Consolidated Net Income of $14 million\n\n\nThird Quarter 2021 GAAP Diluted Earnings Per Share of $0.38\n\n\nThird Quarter 2021 Adjusted Earnings Per Share of $0.75\n\n\nThird Quarter 2021 Adjusted EBITDA of $40.4 million\n\n\nRaises 2021 Guidance\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq:NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the third quarter 2021.\n\n\n\nFinancial Highlights\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\nOctober 1,\n\n\n\n \n\n\n\n \n\n\n\nOctober 2,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n\n\nGAAP\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n177.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n142.9\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n15.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n11.9\n\n\n\n \n\n\n\n\n\nConsolidated Net Income\n\n\n\n$\n\n\n\n13.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n8.3\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.38\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.23\n\n\n\n \n\n\n\n\n\nNon-GAAP*\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted Operating Income\n\n\n\n$\n\n\n\n31.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n19.9\n\n\n\n \n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n$\n\n\n\n0.75\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.42\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n40.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n30.2\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 had excellent performance in the third quarter, with strong double-digit growth for sales, bookings, and profit,” said Matthijs Glastra, Chairperson and Chief Executive Officer of Novanta. “Customer demand was very robust in advanced industrial and medical applications, with bookings increasing 84% year over year. In addition, we continue to see strong momentum with our design wins, securing key wins in attractive application areas with long-term secular growth trends. We were also ...