Novanta Announces Financial Results for the Second Quarter 2024

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[{"type":"text","content":"\n\nSecond Quarter 2024 GAAP Revenue of $236 million\n\n\n\nSecond Quarter 2024 GAAP Net Income of $13.8 million\n\n\n\nSecond Quarter 2024 GAAP Diluted Earnings Per Share of $0.38\n\n\n\nSecond Quarter 2024 Adjusted Earnings Per Share of $0.73\n\n\n\nSecond Quarter 2024 Adjusted EBITDA of $51 million\n\n\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (“Novanta” or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the second quarter 2024.\n\n\n\n\nFinancial Highlights\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\nJune 28,\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n235.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n229.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n25.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n32.2\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n13.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n20.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.38\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.58\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-GAAP*\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Operating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n41.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n42.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.73\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.80\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n51.1\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\n51.7\n\n\n\n\n\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“Novanta delivered another quarter of outstanding operating results,” said Matthijs Glastra, Chair and Chief Executive Officer of Novanta. “...

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