Novanta Inc. (NOVT) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $14.68 million, or $0.41 per share. This compares with $18.27 million, or $0.51 per share, in last year's first quarter.
Excluding items, Novanta Inc. reported adjusted earnings of $26.63 million or $0.74 per share for the period.
Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.4% to $230.92 million from $219.13 million last year.
Novanta Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $14.68 Mln. vs. $18.27 Mln. last year.
-EPS (Q1): $0.41 vs. $0.51 last year.
-Revenue (Q1): $230.92 Mln vs. $219.13 Mln last year.
-Guidance:
Next quarter EPS guidance: $0.68-$0.74
Next quarter revenue guidance: $230 Mln-$235 Mln
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