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10-Q Filing

NOVANTA INC CIK: 1076930 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-024512
Period End Date 20200331
Filing Date 20200512
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance novt-10q_20200403_htm.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $441.00K USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $297.00K USD Point-in-time
Common shares, no par value CommonStockNoParValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $73.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $78.94M USD Point-in-time
Common shares, no par value CommonStockNoParValue - USD Point-in-time
Accounts receivable, net of allowance of $441 and $297, respectively AccountsReceivableNetCurrent $91.08M USD Point-in-time
Common shares, Issued CommonStockSharesIssued 35.12M shares Point-in-time
Accounts receivable, net of allowance of $441 and $297, respectively AccountsReceivableNetCurrent $89.56M USD Point-in-time
Common shares, Issued CommonStockSharesIssued 35.05M shares Point-in-time
Inventories InventoryNet $116.62M USD Point-in-time
Inventories InventoryNet $112.00M USD Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 35.05M shares Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 35.12M shares Point-in-time
Prepaid income taxes and income taxes receivable PrepaidIncomeTaxesAndIncomeTaxesReceivableCurrent $8.71M USD Point-in-time
Prepaid income taxes and income taxes receivable PrepaidIncomeTaxesAndIncomeTaxesReceivableCurrent $5.91M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $12.91M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.97M USD Point-in-time
Total current assets AssetsCurrent $304.51M USD Point-in-time
Total current assets AssetsCurrent $296.88M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $74.78M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $77.56M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $34.33M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $35.18M USD Point-in-time
Deferred tax assets DeferredTaxAssetsNetNoncurrent $8.89M USD Point-in-time
Deferred tax assets DeferredTaxAssetsNetNoncurrent $8.65M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.71M USD Point-in-time
Other assets OtherAssetsNoncurrent $3.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $155.50M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $166.18M USD Point-in-time
Goodwill Goodwill $274.71M USD Point-in-time
Goodwill Goodwill $268.72M USD Point-in-time
Total assets Assets $869.74M USD Point-in-time
Total assets Assets $841.97M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.03M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $4.87M USD Point-in-time
Accounts payable AccountsPayableCurrent $48.42M USD Point-in-time
Accounts payable AccountsPayableCurrent $52.59M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $4.49M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.86M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $5.04M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $4.65M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $72.99M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $70.33M USD Point-in-time
Total current liabilities LiabilitiesCurrent $134.85M USD Point-in-time
Total current liabilities LiabilitiesCurrent $135.42M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $215.33M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $206.75M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $34.11M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $33.04M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesGrossNoncurrent $26.68M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesGrossNoncurrent $24.86M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $4.87M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $4.71M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $36.89M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $23.94M USD Point-in-time
Total liabilities Liabilities $428.87M USD Point-in-time
Total liabilities Liabilities $452.56M USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,122 and 35,052, respectively CommonStockValue $423.86M USD Point-in-time
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,122 and 35,052, respectively CommonStockValue $423.86M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $49.75M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $39.80M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-38.32M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-26.37M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-24.18M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-18.11M USD Point-in-time
Total stockholders' equity StockholdersEquity $417.17M USD Point-in-time
Total stockholders' equity StockholdersEquity $413.10M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $869.74M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $841.97M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $157.19M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $155.47M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $91.02M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $90.90M USD 1 Quarter
Gross profit GrossProfit $64.44M USD 1 Quarter
Gross profit GrossProfit $66.29M USD 1 Quarter
Research and development and engineering ResearchAndDevelopmentExpense $14.00M USD 1 Quarter
Research and development and engineering ResearchAndDevelopmentExpense $15.33M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $31.85M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $30.75M USD 1 Quarter
Amortization of purchased intangible assets AmortizationOfIntangibleAssets $4.00M USD 1 Quarter
Amortization of purchased intangible assets AmortizationOfIntangibleAssets $3.44M USD 1 Quarter
Restructuring and acquisition related costs RestructuringChargesAndAcquisitionRelatedCosts $2.05M USD 1 Quarter
Restructuring and acquisition related costs RestructuringChargesAndAcquisitionRelatedCosts $1.66M USD 1 Quarter
Total operating expenses OperatingExpenses $51.20M USD 1 Quarter
Total operating expenses OperatingExpenses $51.90M USD 1 Quarter
Operating income OperatingIncomeLoss $13.25M USD 1 Quarter
Operating income OperatingIncomeLoss $14.39M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $-2.04M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $-1.68M USD 1 Quarter
Foreign exchange transaction gains (losses), net ForeignCurrencyTransactionGainLossBeforeTax $254.00K USD 1 Quarter
Foreign exchange transaction gains (losses), net ForeignCurrencyTransactionGainLossBeforeTax $41.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $83.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-68.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.32M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $11.91M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $69.00K USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $-38.00K USD 1 Quarter
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Consolidated net income ProfitLoss $12.25M USD 1 Quarter
Basic EarningsPerShareBasic $0.35 USD 1 Quarter
Basic EarningsPerShareBasic $0.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.35 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.34 USD 1 Quarter
Weighted average common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 34.96M shares 1 Quarter
Weighted average common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 35.15M shares 1 Quarter
Weighted average common shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 35.56M shares 1 Quarter
Weighted average common shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 35.47M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Consolidated net income ProfitLoss $12.25M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.07M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.33M USD 1 Quarter
Provision for inventory excess and obsolescence InventoryWriteDown $491.00K USD 1 Quarter
Provision for inventory excess and obsolescence InventoryWriteDown $803.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $3.20M USD 1 Quarter
Share-based compensation ShareBasedCompensation $2.73M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-24.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-621.00K USD 1 Quarter
Inventory acquisition fair value adjustments BusinessCombinationAmortizationOfFairValueAdjustmentToInventory $188.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-366.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-29.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $5.40M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-343.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-1.92M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $2.57M USD 1 Quarter
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets IncreaseDecreaseInPrepaidIncomeTaxesIncomeTaxesReceivablePrepaidDeferredExpenseAndOtherAssets $4.50M USD 1 Quarter
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets IncreaseDecreaseInPrepaidIncomeTaxesIncomeTaxesReceivablePrepaidDeferredExpenseAndOtherAssets $5.17M USD 1 Quarter
Accounts payable, income taxes payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $-5.63M USD 1 Quarter
Accounts payable, income taxes payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $-6.53M USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-414.00K USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-581.00K USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $17.75M USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $5.46M USD 1 Quarter
Payment of business acquisition purchase price held in escrow PaymentOfBusinessAcquisitionPurchasePriceHeldInEscrow $150.00K USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.32M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.43M USD 1 Quarter
Payment of contingent consideration related to acquisition of technology assets PaymentOfContingentConsiderationRelatedToAcquisitionOfTechnologyAssets $2.63M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-24.00K USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.10M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.40M USD 1 Quarter
Repayments of term loan and revolving credit facilities RepaymentsOfDebt $4.60M USD 1 Quarter
Repayments of term loan and revolving credit facilities RepaymentsOfDebt $1.25M USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $1.28M USD 1 Quarter
Payments of withholding taxes from share-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.89M USD 1 Quarter
Payments of withholding taxes from share-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.83M USD 1 Quarter
Repurchases of common shares PaymentsForRepurchaseOfCommonStock $5.50M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-140.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-190.00K USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.05M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-10.63M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-391.00K USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-1.85M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-5.24M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-7.97M USD 1 Quarter
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $78.94M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $73.70M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $82.04M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $74.07M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $78.94M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $73.70M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $82.04M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $74.07M USD Point-in-time
Cash paid for interest InterestPaidNet $1.33M USD 1 Quarter
Cash paid for interest InterestPaidNet $1.89M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.59M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $3.26M USD 1 Quarter
Income tax refunds received ProceedsFromIncomeTaxRefunds $262.00K USD 1 Quarter
Income tax refunds received ProceedsFromIncomeTaxRefunds $1.26M USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $413.10M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $379.70M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $368.25M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $417.17M USD Point-in-time
Consolidated net income NetIncomeLoss $12.25M USD 1 Quarter
Consolidated net income NetIncomeLoss $11.95M USD 1 Quarter
Common shares issued under stock plans StockIssuedDuringPeriodValueShareBasedCompensation $179.00K USD 1 Quarter
Common shares withheld for taxes on vested stock awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $5.89M USD 1 Quarter
Common shares withheld for taxes on vested stock awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $7.83M USD 1 Quarter
Repurchases of common shares StockRepurchasedDuringPeriodValue $5.50M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.20M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.73M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $2.36M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-6.07M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $413.10M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $379.70M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $368.25M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $417.17M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Consolidated net income ProfitLoss $12.25M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-6.81M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.34M USD 1 Quarter
Pension liability adjustments, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-737.00K USD 1 Quarter
Pension liability adjustments, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-17.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $2.36M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-6.07M USD 1 Quarter
Total consolidated comprehensive income (loss) ComprehensiveIncomeNetOfTax $5.88M USD 1 Quarter
Total consolidated comprehensive income (loss) ComprehensiveIncomeNetOfTax $14.61M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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