Novanta Inc. Reports Earnings Results for the Second Quarter Ended July 01, 2022
August 09, 2022 at 06:59 am EDT
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Novanta Inc. reported earnings results for the second quarter ended July 01, 2022. For the second quarter, the company reported sales was USD 215.36 million compared to USD 167.52 million a year ago. Net income was USD 17.48 million compared to USD 11.66 million a year ago. Basic earnings per share from continuing operations was USD 0.49 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 0.33 a year ago.
Novanta Inc. is a supplier of core technology solutions, which give medical and advanced industrial original equipment manufacturers. The Company has three segments. Precision Medicine and Manufacturing segment designs, manufactures and markets photonics-based solutions, including laser scanning, laser beam delivery, carbon dioxide laser, solid state laser, ultrafast laser, and optical light engine products to customers worldwide. Medical Solutions segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators, pumps and related disposables; visualization solutions; wireless technologies, video recorders and video integration technologies, and others. Robotics and Automation segment designs, manufactures and markets optical and inductive encoders, precision motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, and air bearing spindles to customers worldwide.
NOVANTA INC. 
