Benzinga | Aug 10, 2021 07:08AM EDT

Novanta: Q2 Earnings Insights



Shares of Novanta (NASDAQ:NOVT) remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share increased 29.17% over the past year to $0.62, which beat the estimate of $0.51.

Revenue of $167,523,000 rose by 15.75% from the same period last year, which beat the estimate of $164,320,000.

Outlook

Novanta sees Q3 sales of $165 million-$170 million and FY21 sales of $660 million-$670 million.

How To Listen To The Conference Call

Date: Aug 10, 2021

Time: 10:00 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1767/38374

Recent Stock Performance

Company's 52-week high was at $146.16

52-week low: $95.53

Price action over last quarter: Up 9.63%

Company Overview

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.