EXHIBIT 99.1

 

FOR IMMEDIATE RELEASE
November 1, 2017

 

Novanta Announces Financial Results
for the Third Quarter 2017

 

Third Quarter 2017 GAAP Revenue of $146.3 million, up 50% year over year

 

Third Quarter 2017 GAAP Net Income of $7.5 million

 

Third Quarter 2017 GAAP Diluted Earnings (Loss) Per Share of ($0.00)

 

Third Quarter 2017 Adjusted Diluted Earnings Per Share of $0.45

 

Third Quarter 2017 Adjusted EBITDA of $30.1 million

 

Raising Full Year 2017 GAAP Revenue and Adjusted Diluted EPS Guidance

 

BEDFORD, Mass., November 1, 2017 -- Novanta Inc. (NASDAQ: NOVT) (the "Company" or "Novanta"), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the third quarter 2017. 

 

Financial Highlights

Three Months Ended

 

(In millions, except per share amounts)

September 29,

 

 

September 30,

 

 

2017

 

 

2016

 

GAAP

 

 

 

 

 

 

 

Revenue

$

146.3

 

 

$

97.8

 

Operating Income from Continuing Operations

$

12.3

 

 

$

11.0

 

Net Income Attributable to Novanta Inc.

$

7.5

 

 

$

7.5

 

Diluted EPS from Continuing Operations

$

(0.00

)

 

$

0.21

 

Non-GAAP*

 

 

 

 

 

 

 

Adjusted Operating Income from Continuing Operations

$

25.8

 

 

$

14.7

 

Adjusted Diluted EPS

$

0.45

 

 

$

0.29

 

Adjusted EBITDA

$

30.1

 

 

$

17.8

 

*Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures in this press release and the reasons for their use, are presented below.

 

Third Quarter

 

“Following another record quarter, with double-digit revenue and profit growth, we are well positioned to finish 2017 strongly and continue our momentum into 2018,” said Matthijs Glastra, Chief Executive Officer of Novanta Inc. “The WOM and Laser Quantum acquisitions are exceeding our expectations, their integration into Novanta is on track and both businesses are already making a significant contribution to our results, financially and strategically.  Our progress in 2017 gives us confidence to reach our 2020 strategic and financial goals. I am proud of our team of dedicated employees and the culture we have created, and I continue to feel excited about our future.”

 

During the third quarter of 2017, Novanta generated GAAP revenue of $146.3 million, an increase of $48.5 million, or 49.5%, versus the third quarter of 2016. The net effect of the Company’s acquisition activities resulted in an increase in revenue of $40.8 million, or 41.7%, compared to the third quarter of


The following information was filed by Novanta Inc (NOVT) on Wednesday, November 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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