Novanta reports Q4 adjusted EPS 63c, consensus 63c

Reports Q4 revenue $211.6M, consensus $210.69M. “Novanta delivered for the full year a record $882M in revenue, adjusted gross margin of 46.8%, and adjusted EBITDA of $196M,” said Matthijs Glastra, Chair and CEO of Novanta. “In the fourth quarter, and for the full year, our teams delivered revenue and profit performance above our expectations in a dynamic operating environment. In addition, the recently closed acquisition of Motion Solutions enhances our portfolio and further expands our presence in the highly attractive medical and precision medicine space.” Matthijs Glastra continued, “We are proud of the business we have created over the last decade, providing innovations that matter to our customers. We feel we are well positioned with diversified exposure to markets and applications with long-term secular tailwinds, such as robotics and automation, healthcare productivity and precision medicine. Combined with continuing to institutionalize the Novanta Growth System deep into our Company’s culture, our playbook will continue to deliver predictable, consistent, long-term growth and shareholder value.”