$NOVT
NOVANTA INC

2014 Q1 Form 10-Q Financial Statement

#000119312514184884 Filed on May 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $79.13M $75.07M
YoY Change 5.41% 15.16%
Cost Of Revenue $47.03M $44.44M
YoY Change 5.82% 18.49%
Gross Profit $32.11M $30.63M
YoY Change 4.81% 10.66%
Gross Profit Margin 40.57% 40.8%
Selling, General & Admin $19.62M $18.69M
YoY Change 4.97% 15.31%
% of Gross Profit 61.11% 61.01%
Research & Development $5.857M $5.816M
YoY Change 0.7% 0.74%
% of Gross Profit 18.24% 18.99%
Depreciation & Amortization $4.829M $5.259M
YoY Change -8.18% 38.39%
% of Gross Profit 15.04% 17.17%
Operating Expenses $28.04M $29.17M
YoY Change -3.88% 17.33%
Operating Profit $4.068M $1.462M
YoY Change 178.25% -48.17%
Interest Expense -$300.0K $700.0K
YoY Change -142.86% -15.46%
% of Operating Profit -7.37% 47.88%
Other Income/Expense, Net -$275.0K $690.0K
YoY Change -139.86% 268.98%
Pretax Income $3.793M $2.152M
YoY Change 76.25% 64.65%
Income Tax $937.0K $403.0K
% Of Pretax Income 24.7% 18.73%
Net Earnings $983.0K $2.082M
YoY Change -52.79% 50.76%
Net Earnings / Revenue 1.24% 2.77%
Basic Earnings Per Share $0.03 $0.06
Diluted Earnings Per Share $0.03 $0.06
COMMON SHARES
Basic Shares Outstanding 34.23M 33.98M shares
Diluted Shares Outstanding 34.67M 34.27M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.70M $36.30M
YoY Change -12.67% -27.98%
Cash & Equivalents $31.74M $36.34M
Short-Term Investments
Other Short-Term Assets $29.80M $31.30M
YoY Change -4.79% 154.47%
Inventory $63.83M $64.90M
Prepaid Expenses
Receivables $61.31M $57.29M
Other Receivables $5.500M $16.60M
Total Short-Term Assets $192.1M $206.5M
YoY Change -6.95% 1.82%
LONG-TERM ASSETS
Property, Plant & Equipment $31.45M $33.65M
YoY Change -6.53% -19.3%
Goodwill $115.2M $26.58M
YoY Change 333.37% -40.38%
Intangibles $102.8M $73.49M
YoY Change 39.83% 65.63%
Long-Term Investments
YoY Change
Other Assets $11.96M $8.612M
YoY Change 38.84% 22.99%
Total Long-Term Assets $261.8M $193.8M
YoY Change 35.09% 40.0%
TOTAL ASSETS
Total Short-Term Assets $192.1M $206.5M
Total Long-Term Assets $261.8M $193.8M
Total Assets $454.0M $400.3M
YoY Change 13.41% 17.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.57M $25.20M
YoY Change 5.47% 30.68%
Accrued Expenses $10.60M $11.20M
YoY Change -5.36% 5.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.500M $7.500M
YoY Change 0.0% -25.0%
Total Short-Term Liabilities $64.03M $65.42M
YoY Change -2.12% 9.03%
LONG-TERM LIABILITIES
Long-Term Debt $129.1M $95.63M
YoY Change 35.03% 110.16%
Other Long-Term Liabilities $4.750M $9.460M
YoY Change -49.79% 69.96%
Total Long-Term Liabilities $133.9M $105.1M
YoY Change 27.4% 105.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.03M $65.42M
Total Long-Term Liabilities $133.9M $105.1M
Total Liabilities $210.3M $173.8M
YoY Change 20.99% 35.92%
SHAREHOLDERS EQUITY
Retained Earnings -$199.9M -$206.1M
YoY Change -3.01% -8.94%
Common Stock $449.5M $446.7M
YoY Change 0.63% 0.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $243.2M $226.1M
YoY Change
Total Liabilities & Shareholders Equity $454.0M $400.3M
YoY Change 13.41% 17.31%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $983.0K $2.082M
YoY Change -52.79% 50.76%
Depreciation, Depletion And Amortization $4.829M $5.259M
YoY Change -8.18% 38.39%
Cash From Operating Activities $1.497M $4.608M
YoY Change -67.51% -49.29%
INVESTING ACTIVITIES
Capital Expenditures $972.0K $1.605M
YoY Change -39.44% 14.81%
Acquisitions $92.36M $82.65M
YoY Change 11.74%
Other Investing Activities -$92.90M -$82.80M
YoY Change 12.2%
Cash From Investing Activities -$93.91M -$84.37M
YoY Change 11.31% 5934.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.875M
YoY Change -25.0%
Cash From Financing Activities 63.19M 52.11M
YoY Change 21.27% -509.4%
NET CHANGE
Cash From Operating Activities 1.497M 4.608M
Cash From Investing Activities -93.91M -84.37M
Cash From Financing Activities 63.19M 52.11M
Net Change In Cash -29.22M -27.65M
YoY Change 5.68% 448.76%
FREE CASH FLOW
Cash From Operating Activities $1.497M $4.608M
Capital Expenditures $972.0K $1.605M
Free Cash Flow $525.0K $3.003M
YoY Change -82.52% -60.94%

Facts In Submission

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CY2014Q1 dei Trading Symbol
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GSI GROUP INC
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> As discussed in Note 2, the Company classified the Scientific Lasers business as held for sale beginning in the first quarter of 2014. As a result, certain prior period information included in the consolidated financial statements has been reclassified to conform to the current period presentation.</p> </div>
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<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of sales and expenses during the reporting periods. The Company evaluates its estimates based on historical experience, current conditions and various other assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which they are deemed to be necessary. Actual results could differ significantly from those estimates.</p> </div>
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