$NOVT
NOVANTA INC

2015 Q3 Form 10-Q Financial Statement

#000156459015006146 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q2
Revenue $96.49M $96.91M
YoY Change 1.94% 21.48%
Cost Of Revenue $55.15M $58.25M
YoY Change 0.32% 25.2%
Gross Profit $41.35M $38.65M
YoY Change 4.19% 16.28%
Gross Profit Margin 42.85% 39.89%
Selling, General & Admin $20.92M $21.41M
YoY Change -2.74% 10.51%
% of Gross Profit 50.6% 55.39%
Research & Development $7.840M $7.525M
YoY Change 1.36% 23.06%
% of Gross Profit 18.96% 19.47%
Depreciation & Amortization $4.623M $6.322M
YoY Change -27.13% 23.96%
% of Gross Profit 11.18% 16.36%
Operating Expenses $31.03M $32.17M
YoY Change -5.57% 15.52%
Operating Profit $10.32M $6.480M
YoY Change 51.2% 20.22%
Interest Expense $15.50M -$1.000M
YoY Change -3975.0% -9.09%
% of Operating Profit 150.27% -15.43%
Other Income/Expense, Net $15.51M -$1.017M
YoY Change 4901.94% -6.44%
Pretax Income $25.82M $5.463M
YoY Change 262.04% 26.96%
Income Tax $6.310M $2.057M
% Of Pretax Income 24.44% 37.65%
Net Earnings $19.50M $725.0K
YoY Change 330.9% -183.24%
Net Earnings / Revenue 20.21% 0.75%
Basic Earnings Per Share $0.56 $0.02
Diluted Earnings Per Share $0.56 $0.02
COMMON SHARES
Basic Shares Outstanding 34.63M 34.38M shares
Diluted Shares Outstanding 35.03M 34.71M shares

Balance Sheet

Concept 2015 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.10M $45.00M
YoY Change 51.59% -13.63%
Cash & Equivalents $81.05M $45.01M
Short-Term Investments
Other Short-Term Assets $11.70M $26.80M
YoY Change -14.6% 86.11%
Inventory $60.40M $64.55M
Prepaid Expenses
Receivables $54.40M $57.03M
Other Receivables $5.000M $5.700M
Total Short-Term Assets $212.6M $199.0M
YoY Change 10.74% -0.88%
LONG-TERM ASSETS
Property, Plant & Equipment $37.78M $40.16M
YoY Change -4.68% 18.26%
Goodwill $98.36M $115.6M
YoY Change -11.22% 57.23%
Intangibles $67.28M $98.02M
YoY Change -28.08% 38.98%
Long-Term Investments
YoY Change
Other Assets $13.58M $12.48M
YoY Change -3.91% 46.53%
Total Long-Term Assets $219.8M $266.7M
YoY Change -14.98% 40.98%
TOTAL ASSETS
Total Short-Term Assets $212.6M $199.0M
Total Long-Term Assets $219.8M $266.7M
Total Assets $432.4M $465.8M
YoY Change -4.02% 19.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.90M $28.44M
YoY Change -13.85% 11.23%
Accrued Expenses $13.90M $12.80M
YoY Change 28.7% 0.0%
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% 0.0%
Total Short-Term Liabilities $62.00M $66.52M
YoY Change 0.46% 6.38%
LONG-TERM LIABILITIES
Long-Term Debt $108.8M $127.3M
YoY Change -4.87% 45.01%
Other Long-Term Liabilities $24.60M $13.43M
YoY Change 81.54% 41.52%
Total Long-Term Liabilities $133.4M $140.7M
YoY Change 4.28% 44.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.00M $66.52M
Total Long-Term Liabilities $133.4M $140.7M
Total Liabilities $197.8M $219.3M
YoY Change -1.96% 34.37%
SHAREHOLDERS EQUITY
Retained Earnings -$199.2M
YoY Change -3.77%
Common Stock $450.7M
YoY Change 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $234.6M $246.1M
YoY Change
Total Liabilities & Shareholders Equity $432.4M $465.8M
YoY Change -4.03% 19.42%

Cashflow Statement

Concept 2015 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $19.50M $725.0K
YoY Change 330.9% -183.24%
Depreciation, Depletion And Amortization $4.623M $6.322M
YoY Change -27.13% 23.96%
Cash From Operating Activities $8.600M $18.50M
YoY Change -37.23% 41.22%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$1.600M
YoY Change 0.0% 128.57%
Acquisitions
YoY Change
Other Investing Activities $31.50M -$1.600M
YoY Change 194.39% -113.68%
Cash From Investing Activities $30.40M -$3.200M
YoY Change 220.0% -129.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.100M -2.300M
YoY Change -46.62% -72.29%
NET CHANGE
Cash From Operating Activities 8.600M 18.50M
Cash From Investing Activities 30.40M -3.200M
Cash From Financing Activities -7.100M -2.300M
Net Change In Cash 31.90M 13.00M
YoY Change 222.22% -17.72%
FREE CASH FLOW
Cash From Operating Activities $8.600M $18.50M
Capital Expenditures -$1.200M -$1.600M
Free Cash Flow $9.800M $20.10M
YoY Change -34.23% 45.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.53%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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 revenues 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>
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
500000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
95000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Inventory1
DisposalGroupIncludingDiscontinuedOperationInventory1
161000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
8000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
367000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable
DisposalGroupIncludingDiscontinuedOperationAccountsPayable
16000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
74000
us-gaap Cost Of Goods Sold Amortization
CostOfGoodsSoldAmortization
2293000
us-gaap Cost Of Goods Sold Amortization
CostOfGoodsSoldAmortization
2915000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Other Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherLiabilities
234000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
6271000
CY2015Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
-13000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-769000
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-13000
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-2681000
CY2015Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
0
CY2015Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0
CY2015Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
2581000
CY2015Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2581000
CY2015Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
965000
CY2014Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
2255000
us-gaap Business Acquisition Date Of Acquisition Agreement1
BusinessAcquisitionDateOfAcquisitionAgreement1
2015-02-19
gsig Number Of Contingent Consideration Installments
NumberOfContingentConsiderationInstallments
2
CY2015Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
7612000
CY2015Q3 us-gaap Goodwill Gross
GoodwillGross
249587000
CY2015Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2014Q4 us-gaap Goodwill Gross
GoodwillGross
241975000
CY2014Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2015Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
161180000
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
106929000
CY2015Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
54251000
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
155127000
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
100912000
CY2014Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
168154000
gsig Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6034000
gsig Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
7535000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6053000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10809000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9866000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7757000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5495000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
14271000
CY2015Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
38418000
CY2014Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
38934000
CY2015Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
10621000
CY2014Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9899000
CY2015Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9727000
CY2014Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
11945000
CY2015Q3 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
1644000
CY2014Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
2165000
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8809000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7741000
CY2015Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3539000
CY2014Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3044000
CY2015Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1580000
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1827000
CY2015Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8109000
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6789000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1524000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
976000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
94000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
90000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
730000
gsig Product Warranty Accrual Reductions Due To Business Divestiture
ProductWarrantyAccrualReductionsDueToBusinessDivestiture
392000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-1000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
8000
CY2015Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
9269000
CY2014Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
9507000
CY2015Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
5305000
CY2014Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
6037000
CY2015Q3 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
3683000
CY2014Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
3275000
gsig Debt Instruments Maturity Date Month And Year
DebtInstrumentsMaturityDateMonthAndYear
2017-12
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
659000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1253000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2212000
CY2015Q3 gsig Restructuring Charges Benefits Net
RestructuringChargesBenefitsNet
384000
CY2014Q2 gsig Restructuring Charges Benefits Net
RestructuringChargesBenefitsNet
-188000
gsig Restructuring Charges Benefits Net
RestructuringChargesBenefitsNet
2137000
gsig Restructuring Charges Benefits Net
RestructuringChargesBenefitsNet
-160000
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
231000
us-gaap Payments For Restructuring
PaymentsForRestructuring
1090000
us-gaap Restructuring Reserve Settled Without Cash1
RestructuringReserveSettledWithoutCash1
577000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2015Q3 gsig Gross Margin Percentage
GrossMarginPercentage
0.428
CY2014Q2 gsig Gross Margin Percentage
GrossMarginPercentage
0.399
gsig Gross Margin Percentage
GrossMarginPercentage
0.426
gsig Gross Margin Percentage
GrossMarginPercentage
0.402
CY2015Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4623000
CY2014Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6322000

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