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Novanta Q1 Adjusted Earnings, Revenue Rise; Issues Q2, Full-Year 2021 Outlook

05/11/2021 03:22

07:20 AM EDT, 05/11/2021 (MT Newswires) -- Novanta (NOVT) reported Q1 adjusted earnings Tuesday of $0.58 per diluted share, up from $0.51 a year ago. The consensus of three analysts polled by Capital IQ was $0.39.

Net revenue for the quarter ended April 2 was $162.6 million, up from $155.5 million a year ago. Analysts polled by Capital IQ expected $156.3 million.

Looking ahead, the company expects fiscal Q2 2021 adjusted diluted EPS to be between $0.49 and $0.53, versus the $0.50 Street forecast, and adjusted EBITDA of $32 million to $34 million. Revenue is expected between $162 million and $165 million, which is higher than the Street forecast of $155.6 million.

For the fiscal full year, Novanta expects adjusted diluted EPS to be between $2.04 and $2.19, compared with the analysts' forecast of $2.11 per share, and adjusted EBITDA of $127 million to $134 million. Revenue is projected between $645 million and $655 million, versus the Street forecast of $644 million.

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