Novanta Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 09:31 am EST
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Novanta Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 221.5 million compared to USD 222.96 million a year ago. Net income was USD 21.22 million compared to USD 22.49 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.63 a year ago.
For the nine months, sales was USD 670.09 million compared to USD 642.53 million a year ago. Net income was USD 60.37 million compared to USD 58.79 million a year ago. Basic earnings per share from continuing operations was USD 1.68 compared to USD 1.65 a year ago. Diluted earnings per share from continuing operations was USD 1.68 compared to USD 1.64 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. 
