Benzinga | May 11, 2021 07:15AM EDT

Novanta Sees Q1 Adj. EPS $0.49-$0.53 vs $0.50 Est., Sales $162M-$165M vs $158.55M Est.; Sees FY21 Adj. EPS $2.04-$2.19 vs $2.11 Est., Sales $645M-$655M vs $644.35M Est.

Financial Guidance

"With our performance in the First Quarter, and the strong broad based demand signals from our customers, we expect to see continued growth in the Second Quarter and for the Full Year," said Matthijs Glastra. "While we expect strong demand for the year, we are seeing an uptick in pandemic related disruptions and electronic material shortages impacting our supply chain and that of our customers, which we expect to continue over the course of 2021. However, our design win and customer order activities are expected to remain robust; with long-term prospects in our medical and advanced industrial end-markets remaining very positive."

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. The Company's guidance assumes no significant changes in foreign exchange rates.

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. The Company's guidance assumes no significant changes in foreign exchange rates.