Business
Novanta Completes Acquisitions of SEM and ATI and Updates Financial Guidance
BEDFORD, Mass.--(BUSINESS WIRE)-- Novanta Inc. (Nasdaq: NOVT) (the "Company"), a trusted technology partner to medical and advanced technology equipment
About this update from Novanta Inc.
[{"type":"text","content":" BEDFORD, Mass.--(BUSINESS WIRE)--\nNovanta Inc. (Nasdaq: NOVT) (the \"Company\"), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that it has completed the acquisitions of Schneider Electric Motion USA Inc. (“SEM”) and ATI Industrial Automation Inc. (“ATI”).\n\n\"SEM and ATI are fantastic businesses which are excellent strategic additions to Novanta, expanding our positions in high growth markets,” said Matthijs Glastra, Chairperson and CEO of Novanta. “With the addition of these businesses to our Precision Motion segment, we now offer some of the most sophisticated technology solutions available in the precise motion and robotics space. We are excited to collaborate with the SEM and ATI teams, with their talent, expertise, and unique capabilities. Also, with the transactions closed, Novanta is now able to give revised full year financial guidance.”\n\nFinancial Guidance\n\nFor the full year 2021, the Company expects GAAP revenue of approximately $685 million to $700 million. The Company expects Adjusted EBITDA to be in the range of $145 million to $148 million and Adjusted Diluted EPS to be in the range of $2.40 to $2.50.\n\nNovanta provides earnings guidance on a non-GAAP basis and does not provide earnings guidance on a GAAP basis, with the exception of GAAP revenue guidance. A reconciliation of the Company’s forward-looking Adjusted EBITDA and Adjusted EPS guidance to the most directly comparable GAAP financial measures is not provided because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including future changes in the fair value of contingent considerations; significant discrete income tax expenses (benefits); divestiture and related expenses; acquisition and related expenses; impact of purchase price allocations for recently completed acquisitions; gains and losses from sale of real estate assets; costs related to product line closures; intangible asset impairment charges and related asset write-offs; future restructuring expenses; foreign exchange gains/(losses); benefits or expenses associated with the completion of tax audits; and other charges reflected in the Company’s reconciliation of historical non-GAAP financial measures, the amounts of which, based on past experience, could be materi...