Novanta Inc

NOVT

Equity

ISIN CA67000B1040 / Valor 32582414

NASDAQ (2024-09-17)

USD 171.03-0.41%

Novanta Inc
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About company

Novanta Inc is a prominent global provider of core technology solutions for medical and advanced industrial original equipment manufacturers, offering a competitive edge through precision medicine, manufacturing, medical solutions, and robotics and automation. With a focus on solving intricate technical challenges, Novanta engineers core components and sub-systems that deliver exceptional precision and performance for customers' specific applications. The company's growth is driven by a team of forward-thinking professionals dedicated to innovation and customer satisfaction.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the second quarter of 2024, Novanta Inc. reported GAAP revenue of $235.9 million, marking an increase of $6.4 million, or 2.8%, compared to the second quarter of 2023. This growth was primarily driven by the company's acquisition activities, which contributed an additional $20.3 million in revenue.

Operating Income

Novanta Inc.'s GAAP operating income for the second quarter of 2024 was $25.7 million, a decrease from $32.2 million in the same quarter of the previous year. This decline reflects various operational challenges and increased costs during the period.

Net Income

For the second quarter of 2024, Novanta Inc. reported a GAAP net income of $13.8 million, down from $20.9 million in the second quarter of 2023. The decrease in net income is attributed to lower operating income and other financial factors.

Earnings Per Share

Novanta Inc.'s GAAP diluted earnings per share (EPS) for the second quarter of 2024 was $0.38, compared to $0.58 in the same quarter of 2023. On a non-GAAP basis, adjusted diluted EPS was $0.73, down from $0.80 in the second quarter of the previous year.

Financial Outlook

Looking ahead, Novanta Inc. expects GAAP revenue for the full year 2024 to be approximately $975 million, representing a growth of over 10%. The company also anticipates an adjusted gross profit margin of 46.6% to 47.0%, with adjusted EBITDA projected to be in the range of $215 million to $222 million.

Summarized from source with an LLMView Source

Key figures

9.22%1Y

11.1%3Y

104%5Y

Performance

38.6%1Y

37.8%3Y

39.9%5Y

Volatility