Novanta (NOVT) Tops Q1 EPS by 5c, Revenues Beat; Affirms 2Q EPS Guidance Below Consensus, FY19 EOS Views Above Consensus

Novanta (NASDAQ: NOVT) reported Q1 EPS of $0.53, $0.05 better than the analyst estimate of $0.48. Revenue for the quarter came in at $157.2 million versus the consensus estimate of $155.85 million.

• First Quarter 2019 GAAP Revenue of $157.2 million
• First Quarter 2019 GAAP Net Income of $12.3 million
• First Quarter 2019 GAAP Diluted Earnings Per Share of $0.35
• First Quarter 2019 Adjusted Earnings Per Share of $0.53
• First Quarter 2019 Adjusted EBITDA of $28.2 million

"The company delivered excellent results in the first quarter, with better than expected revenue growth and Adjusted EPS,” said Matthijs Glastra, Chief Executive Officer of Novanta. “Revenue growth was 7% driven by robust medical end-markets. Overall, we are pleased with our performance in an uncertain macroeconomic and capital spending environment.”

GUIDANCE:

Novanta sees Q2 2019 EPS of $0.53-$0.55, versus the consensus of $0.57.

Novanta sees FY2019 EPS of $2.36-$2.42, versus the consensus of $2.35.

For earnings history and earnings-related data on Novanta (NOVT) click here.

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