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Apr 02, 2021
Novanta Q1 2021 Earnings Report
Novanta reported strong first-quarter results with record sales and bookings performance, driven by demand across multiple application areas.
Key Takeaways
Novanta's First Quarter 2021 results showed strong performance with sales, bookings, profit, and cash flow exceeding expectations. GAAP revenue was $162.6 million, and adjusted EPS was $0.58. The company saw accelerated demand, particularly in the advanced industrial sector, and launched five new products during the quarter.
GAAP revenue for the first quarter of 2021 was $163 million.
GAAP consolidated net income for the first quarter of 2021 was $11 million.
GAAP diluted earnings per share for the first quarter of 2021 was $0.32.
Adjusted earnings per share for the first quarter of 2021 was $0.58.
Novanta
Novanta
Forward Guidance
For the second quarter of 2021, the Company expects GAAP revenue of approximately $162 million to $165 million. The Company expects Adjusted EBITDA to be in the range of $32 million to $34 million, and Adjusted Diluted EPS to be in the range of $0.49 to $0.53. For the full year 2021, the Company expects GAAP revenue of approximately $645 million to $655 million. The Company expects Adjusted EBITDA to be in the range of $127 million to $134 million, and Adjusted Diluted EPS to be in the range of $2.04 to $2.19.
Positive Outlook
- Expects continued growth in the Second Quarter
- Expects continued growth for the Full Year
- Strong broad based demand signals from customers
- Design win activities are expected to remain robust
- Customer order activities are expected to remain robust
Challenges Ahead
- Seeing an uptick in pandemic related disruptions
- Seeing electronic material shortages impacting supply chain
- Electronic material shortages impacting customers
- Expects disruptions to continue over the course of 2021
- Impacted supply chain