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Recap: Novanta Q3 Earnings

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Benzinga Insights
·1 min read
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Shares of Novanta (NASDAQ:NOVT) rose 0.8% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 20.75% over the past year to $0.42, which beat the estimate of $0.39.

Revenue of $142,929,000 declined by 7.23% from the same period last year, which beat the estimate of $141,350,000.

Outlook

Q4 revenue expected between $144,000,000 and $149,000,000.

Details Of The Call

Date: Nov 10, 2020

View more earnings on NOVT

Time: 10:00 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1767/32034

Price Action

Company's 52-week high was at $127.91

52-week low: $66.44

Price action over last quarter: Up 8.00%

Company Description

Novanta Inc manufactures photonic and motion-control components for original equipment manufacturers in the medical equipment and industrial technology markets. The firm operates in three segments: photonics, vision, and precision motion. The photonics segment, which sells photonics-based products that include carbon dioxide lasers, laser scanning, super-resolution imaging lasers, and laser beam delivery items, contributes the majority of revenue. The vision segment sells medical-grade technologies, including visualization solutions, imaging informatics products, and thermal printers. The precision motion segment sells optical encoders, motion control technology, and precision machined components. The firm generates the majority of its revenue from the United States and Europe.

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