Novanta Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Novanta Inc. (NOVT) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $14.68 million, or $0.41 per share. This compares with $18.27 million, or $0.51 per share, in last year's first quarter.

Excluding items, Novanta Inc. reported adjusted earnings of $26.63 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $230.92 million from $219.13 million last year.

Novanta Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $14.68 Mln. vs. $18.27 Mln. last year. -EPS (Q1): $0.41 vs. $0.51 last year. -Revenue (Q1): $230.92 Mln vs. $219.13 Mln last year.

-Guidance: Next quarter EPS guidance: $0.68-$0.74 Next quarter revenue guidance: $230 Mln-$235 Mln