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10-Q Filing

NOVANTA INC CIK: 1076930 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-026327
Period End Date 20210331
Filing Date 20210511
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance novt-10q_20210402_htm.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $260.00K USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $274.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $125.05M USD Point-in-time
Common shares, no par value CommonStockNoParValue - USD Point-in-time
Common shares, no par value CommonStockNoParValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $113.56M USD Point-in-time
Accounts receivable, net of allowance of $260 and $274, respectively AccountsReceivableNetCurrent $75.05M USD Point-in-time
Common shares, Issued CommonStockSharesIssued 35.38M shares Point-in-time
Accounts receivable, net of allowance of $260 and $274, respectively AccountsReceivableNetCurrent $90.06M USD Point-in-time
Common shares, Issued CommonStockSharesIssued 35.16M shares Point-in-time
Inventories InventoryNet $92.74M USD Point-in-time
Inventories InventoryNet $89.94M USD Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 35.16M shares Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 35.38M shares Point-in-time
Prepaid income taxes and income taxes receivable PrepaidIncomeTaxesAndIncomeTaxesReceivableCurrent $3.20M USD Point-in-time
Prepaid income taxes and income taxes receivable PrepaidIncomeTaxesAndIncomeTaxesReceivableCurrent $6.28M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $8.12M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.27M USD Point-in-time
Total current assets AssetsCurrent $304.17M USD Point-in-time
Total current assets AssetsCurrent $309.12M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $78.68M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $77.53M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $34.44M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $31.64M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $10.18M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $10.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.89M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.81M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $139.35M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $148.52M USD Point-in-time
Goodwill Goodwill $285.98M USD Point-in-time
Goodwill Goodwill $281.61M USD Point-in-time
Total assets Assets $865.18M USD Point-in-time
Total assets Assets $852.25M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.27M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.51M USD Point-in-time
Accounts payable AccountsPayableCurrent $42.97M USD Point-in-time
Accounts payable AccountsPayableCurrent $51.95M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $5.60M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $5.79M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $6.19M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $5.89M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $53.78M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $48.66M USD Point-in-time
Total current liabilities LiabilitiesCurrent $117.38M USD Point-in-time
Total current liabilities LiabilitiesCurrent $114.23M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $194.93M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $186.15M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $30.93M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $32.80M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $22.17M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $24.13M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $5.17M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $5.11M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $17.17M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $14.34M USD Point-in-time
Total liabilities Liabilities $388.37M USD Point-in-time
Total liabilities Liabilities $376.13M USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,384 and 35,163, respectively CommonStockValue $423.86M USD Point-in-time
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,384 and 35,163, respectively CommonStockValue $423.86M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $58.99M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $47.36M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $17.51M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.24M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.61M USD Point-in-time
Total stockholders' equity StockholdersEquity $476.12M USD Point-in-time
Total stockholders' equity StockholdersEquity $476.81M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $852.25M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $865.18M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $162.58M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $155.47M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $91.02M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $93.84M USD 1 Quarter
Gross profit GrossProfit $68.74M USD 1 Quarter
Gross profit GrossProfit $64.44M USD 1 Quarter
Research and development and engineering ResearchAndDevelopmentExpense $15.33M USD 1 Quarter
Research and development and engineering ResearchAndDevelopmentExpense $18.68M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $30.75M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $31.65M USD 1 Quarter
Amortization of purchased intangible assets AmortizationOfIntangibleAssets $3.58M USD 1 Quarter
Amortization of purchased intangible assets AmortizationOfIntangibleAssets $3.44M USD 1 Quarter
Restructuring, acquisition, and related costs RestructuringChargesAndAcquisitionRelatedCosts $1.66M USD 1 Quarter
Restructuring, acquisition, and related costs RestructuringChargesAndAcquisitionRelatedCosts $3.73M USD 1 Quarter
Total operating expenses OperatingExpenses $51.20M USD 1 Quarter
Total operating expenses OperatingExpenses $57.64M USD 1 Quarter
Operating income OperatingIncomeLoss $11.10M USD 1 Quarter
Operating income OperatingIncomeLoss $13.25M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $-1.68M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $-1.41M USD 1 Quarter
Foreign exchange transaction gains (losses), net ForeignCurrencyTransactionGainLossBeforeTax $-257.00K USD 1 Quarter
Foreign exchange transaction gains (losses), net ForeignCurrencyTransactionGainLossBeforeTax $254.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-70.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $83.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.36M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $11.91M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $-1.95M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $-38.00K USD 1 Quarter
Consolidated net income ProfitLoss $11.31M USD 1 Quarter
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Basic EarningsPerShareBasic $0.34 USD 1 Quarter
Basic EarningsPerShareBasic $0.32 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.32 USD 1 Quarter
Weighted average common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 35.15M shares 1 Quarter
Weighted average common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 35.28M shares 1 Quarter
Weighted average common shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 35.79M shares 1 Quarter
Weighted average common shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 35.56M shares 1 Quarter
Cash Flow Statement 61 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.31M USD 1 Quarter
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.33M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.85M USD 1 Quarter
Provision for inventory excess and obsolescence InventoryWriteDown $1.14M USD 1 Quarter
Provision for inventory excess and obsolescence InventoryWriteDown $803.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $6.64M USD 1 Quarter
Share-based compensation ShareBasedCompensation $3.20M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-621.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-968.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-554.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-413.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $15.83M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-343.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-1.92M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-675.00K USD 1 Quarter
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets IncreaseDecreaseInPrepaidIncomeTaxesIncomeTaxesReceivablePrepaidDeferredExpenseAndOtherAssets $4.28M USD 1 Quarter
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets IncreaseDecreaseInPrepaidIncomeTaxesIncomeTaxesReceivablePrepaidDeferredExpenseAndOtherAssets $4.50M USD 1 Quarter
Accounts payable, income taxes payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $13.74M USD 1 Quarter
Accounts payable, income taxes payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $-5.63M USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-569.00K USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-414.00K USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $17.75M USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $23.27M 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 $3.27M USD 1 Quarter
Payment of contingent consideration related to acquisition of technology assets PaymentOfContingentConsiderationRelatedToAcquisitionOfTechnologyAssets $2.63M USD 1 Quarter
Payment of contingent consideration related to acquisition of technology assets PaymentOfContingentConsiderationRelatedToAcquisitionOfTechnologyAssets $2.20M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.10M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.47M USD 1 Quarter
Repayments under term loan and revolving credit facilities RepaymentsOfDebt $1.34M USD 1 Quarter
Repayments under 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 $7.83M USD 1 Quarter
Payments of withholding taxes from share-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $18.27M USD 1 Quarter
Repurchases of common shares PaymentsForRepurchaseOfCommonStock $5.50M USD 1 Quarter
Payment of contingent consideration related to an acquisition PaymentForContingentConsiderationLiabilityFinancingActivities $435.00K USD 1 Quarter
Purchase of building under finance lease PaymentsToAcquireBuildingsUnderFinanceLease $8.74M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-190.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-140.00K USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.05M USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-28.93M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-357.00K USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-1.85M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-5.24M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-11.49M USD 1 Quarter
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $73.70M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $78.94M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $113.56M USD Point-in-time
Cash and cash equivalents, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $125.05M 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 $78.94M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $113.56M USD Point-in-time
Cash and cash equivalents, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $125.05M USD Point-in-time
Cash paid for interest InterestPaidNet $1.11M USD 1 Quarter
Cash paid for interest InterestPaidNet $1.33M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.98M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.59M USD 1 Quarter
Income tax refunds received ProceedsFromIncomeTaxRefunds $1.26M USD 1 Quarter
Income tax refunds received ProceedsFromIncomeTaxRefunds $45.00K USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $476.12M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $413.10M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $417.17M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $476.81M USD Point-in-time
Consolidated net income NetIncomeLoss $11.31M 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 $7.83M USD 1 Quarter
Common shares withheld for taxes on vested stock awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $18.27M USD 1 Quarter
Repurchases of common shares StockRepurchasedDuringPeriodValue $5.50M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.64M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.20M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-6.07M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-368.00K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $476.12M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $413.10M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $417.17M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $476.81M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $11.31M USD 1 Quarter
Consolidated net income ProfitLoss $11.95M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-6.81M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-489.00K USD 1 Quarter
Pension liability adjustments, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-121.00K USD 1 Quarter
Pension liability adjustments, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-737.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-6.07M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-368.00K USD 1 Quarter
Total consolidated comprehensive income (loss) ComprehensiveIncomeNetOfTax $5.88M USD 1 Quarter
Total consolidated comprehensive income (loss) ComprehensiveIncomeNetOfTax $10.94M USD 1 Quarter

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

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