$NOVT
NOVANTA INC

2018 Q2 Form 10-Q Financial Statement

#000156459018020214 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q4 2017 Q2
Revenue $150.4M $146.9M $119.1M
YoY Change 26.28% 48.53% 31.9%
Cost Of Revenue $85.17M $84.70M $65.61M
YoY Change 29.81% 51.25% 22.82%
Gross Profit $65.23M $62.20M $53.49M
YoY Change 21.95% 44.99% 44.99%
Gross Profit Margin 43.37% 42.34% 44.91%
Selling, General & Admin $29.23M $27.40M $23.80M
YoY Change 22.82% 41.97% 12.33%
% of Gross Profit 44.81% 44.05% 44.5%
Research & Development $12.55M $11.80M $9.004M
YoY Change 39.39% 47.5% 11.82%
% of Gross Profit 19.24% 18.97% 16.83%
Depreciation & Amortization $9.120M $8.400M $7.094M
YoY Change 28.56% 64.71% 21.66%
% of Gross Profit 13.98% 13.5% 13.26%
Operating Expenses $48.11M $41.80M $9.004M
YoY Change 434.36% 42.18% -73.75%
Operating Profit $17.12M $20.40M $15.75M
YoY Change 8.69% 51.11% 508.7%
Interest Expense -$2.561M -$2.600M -$1.435M
YoY Change 78.47% -966.67% 30.45%
% of Operating Profit -14.96% -12.75% -9.11%
Other Income/Expense, Net -$46.00K $100.0K -$119.0K
YoY Change -61.34% -80.0% -116.02%
Pretax Income $14.69M $16.60M $14.68M
YoY Change 0.04% 37.19% 558.84%
Income Tax $3.060M $9.700M $4.689M
% Of Pretax Income 20.84% 58.43% 31.94%
Net Earnings $11.00M $8.900M $9.402M
YoY Change 17.0% 14.1% 393.28%
Net Earnings / Revenue 7.31% 6.06% 7.89%
Basic Earnings Per Share $0.32 $0.16
Diluted Earnings Per Share $0.32 $251.4K $0.16
COMMON SHARES
Basic Shares Outstanding 34.95M
Diluted Shares Outstanding 35.47M

Balance Sheet

Concept 2018 Q2 2017 Q4 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.3M $100.1M $89.10M
YoY Change 20.43% 46.99% 31.22%
Cash & Equivalents $107.3M $100.1M $89.13M
Short-Term Investments
Other Short-Term Assets $8.900M $10.70M $6.700M
YoY Change 32.84% 91.07% 45.65%
Inventory $96.38M $91.28M $76.80M
Prepaid Expenses
Receivables $76.75M $81.48M $69.10M
Other Receivables $6.500M $4.400M $4.000M
Total Short-Term Assets $295.7M $287.9M $245.7M
YoY Change 20.37% 44.48% 25.74%
LONG-TERM ASSETS
Property, Plant & Equipment $64.66M $61.72M $36.50M
YoY Change 77.15% 74.24% 0.83%
Goodwill $218.3M $211.0M
YoY Change 95.13%
Intangibles $154.7M $155.0M
YoY Change 151.12%
Long-Term Investments
YoY Change
Other Assets $1.575M $4.018M $14.90M
YoY Change -89.43% -67.86% -19.46%
Total Long-Term Assets $446.0M $438.8M $303.9M
YoY Change 46.77% 93.84% 37.45%
TOTAL ASSETS
Total Short-Term Assets $295.7M $287.9M $245.7M
Total Long-Term Assets $446.0M $438.8M $303.9M
Total Assets $741.8M $726.7M $549.6M
YoY Change 34.96% 70.73% 31.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.51M $39.79M $37.80M
YoY Change 12.45% 23.53% 40.52%
Accrued Expenses $22.00M $26.90M $23.30M
YoY Change -5.58% 47.8% -4.12%
Deferred Revenue $4.790M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.127M $9.119M $7.400M
YoY Change 23.34% 23.8% 0.0%
Total Short-Term Liabilities $93.00M $98.17M $83.30M
YoY Change 11.64% 39.25% 38.14%
LONG-TERM LIABILITIES
Long-Term Debt $228.3M $225.5M $112.1M
YoY Change 103.66% 219.61% 17.14%
Other Long-Term Liabilities $15.00M $15.14M $13.70M
YoY Change 9.46% -19.09% 7.87%
Total Long-Term Liabilities $243.3M $240.6M $125.8M
YoY Change 93.4% 169.57% 16.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.00M $98.17M $83.30M
Total Long-Term Liabilities $243.3M $240.6M $125.8M
Total Liabilities $365.8M $368.2M $245.1M
YoY Change 49.24% 120.81% 44.77%
SHAREHOLDERS EQUITY
Retained Earnings -$112.2M -$127.7M -$127.6M
YoY Change -12.1% -23.76% -31.99%
Common Stock $455.7M $457.2M $454.8M
YoY Change 0.2% 0.67% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $324.4M $311.5M $304.5M
YoY Change
Total Liabilities & Shareholders Equity $741.8M $726.7M $549.6M
YoY Change 34.96% 70.73% 31.95%

Cashflow Statement

Concept 2018 Q2 2017 Q4 2017 Q2
OPERATING ACTIVITIES
Net Income $11.00M $8.900M $9.402M
YoY Change 17.0% 14.1% 393.28%
Depreciation, Depletion And Amortization $9.120M $8.400M $7.094M
YoY Change 28.56% 64.71% 21.66%
Cash From Operating Activities $20.00M $22.10M $16.70M
YoY Change 19.76% 68.7% 101.25%
INVESTING ACTIVITIES
Capital Expenditures -$4.400M -$2.600M -$1.300M
YoY Change 238.46% -51.85% -155.53%
Acquisitions
YoY Change
Other Investing Activities -$27.50M $0.00 $100.0K
YoY Change -27600.0% -98.18%
Cash From Investing Activities -$31.70M -$2.600M -$1.200M
YoY Change 2541.67% -52.73% -137.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.00M -11.80M -7.200M
YoY Change -252.78% 461.9% 108.76%
NET CHANGE
Cash From Operating Activities 20.00M 22.10M 16.70M
Cash From Investing Activities -31.70M -2.600M -1.200M
Cash From Financing Activities 11.00M -11.80M -7.200M
Net Change In Cash -700.0K 7.700M 8.300M
YoY Change -108.43% 40.0% 3.53%
FREE CASH FLOW
Cash From Operating Activities $20.00M $22.10M $16.70M
Capital Expenditures -$4.400M -$2.600M -$1.300M
Free Cash Flow $24.40M $24.70M $18.00M
YoY Change 35.56% 33.51% 202.17%

Facts In Submission

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6833000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
104000
novt Inventory Acquisition Fair Value Adjustment
InventoryAcquisitionFairValueAdjustment
1035000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-278000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1128000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6526000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2360000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6544000
novt Increase Decrease In Prepaid Income Taxes Income Taxes Receivable Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidIncomeTaxesIncomeTaxesReceivablePrepaidDeferredExpenseAndOtherAssets
619000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-5094000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
555000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40365000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7259000
novt Payments To Acquire Businesses Net Of Cash Acquired And Working Capital Adjustments
PaymentsToAcquireBusinessesNetOfCashAcquiredAndWorkingCapitalAdjustments
27445000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-72000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-10000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34632000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37905000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
30272000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
42000000
us-gaap Repayments Of Debt
RepaymentsOfDebt
21832000
us-gaap Repayments Of Debt
RepaymentsOfDebt
8750000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
2398000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1929000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
370000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3367000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1794000
novt Repayments Of Capital Lease Obligations
RepaymentsOfCapitalLeaseObligations
284000
novt Repayments Of Capital Lease Obligations
RepaymentsOfCapitalLeaseObligations
400000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-148000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2712000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28288000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1241000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1113000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
7204000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
21018000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68108000
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
89126000
us-gaap Interest Paid Net
InterestPaidNet
4424000
us-gaap Interest Paid Net
InterestPaidNet
1857000
us-gaap Income Taxes Paid
IncomeTaxesPaid
12041000
us-gaap Income Taxes Paid
IncomeTaxesPaid
9750000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
599000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
185000
CY2017Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3960000
CY2018Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
237433000
CY2017Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
234619000
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
806000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.53%;text-indent:-2.03%;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 revenue and expenses during the reporting periods. 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. The Company evaluates its estimates based on historical experience, current conditions and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates. </p></div>
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.208
CY2018Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1451000
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2438000
CY2018Q2 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1726000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
489000
CY2018Q2 novt Temporary Equity Accretion Decretion To Redemption Value Adjustment
TemporaryEquityAccretionDecretionToRedemptionValueAdjustment
-303000
CY2017Q2 novt Temporary Equity Accretion Decretion To Redemption Value Adjustment
TemporaryEquityAccretionDecretionToRedemptionValueAdjustment
3718000
novt Temporary Equity Accretion Decretion To Redemption Value Adjustment
TemporaryEquityAccretionDecretionToRedemptionValueAdjustment
5096000
novt Temporary Equity Accretion Decretion To Redemption Value Adjustment
TemporaryEquityAccretionDecretionToRedemptionValueAdjustment
3718000
CY2018Q2 novt Net Income Loss After Adjustment Of Redeemable Noncontrolling Interest To Estimated Redemption Value
NetIncomeLossAfterAdjustmentOfRedeemableNoncontrollingInterestToEstimatedRedemptionValue
11303000
CY2017Q2 novt Net Income Loss After Adjustment Of Redeemable Noncontrolling Interest To Estimated Redemption Value
NetIncomeLossAfterAdjustmentOfRedeemableNoncontrollingInterestToEstimatedRedemptionValue
5684000
novt Net Income Loss After Adjustment Of Redeemable Noncontrolling Interest To Estimated Redemption Value
NetIncomeLossAfterAdjustmentOfRedeemableNoncontrollingInterestToEstimatedRedemptionValue
17815000
novt Net Income Loss After Adjustment Of Redeemable Noncontrolling Interest To Estimated Redemption Value
NetIncomeLossAfterAdjustmentOfRedeemableNoncontrollingInterestToEstimatedRedemptionValue
39936000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
525000
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
636000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
532000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
498000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4104000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
2800000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
1134000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10844000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-3508000
CY2018Q2 us-gaap Goodwill Gross
GoodwillGross
369553000
CY2018Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2017Q4 us-gaap Goodwill Gross
GoodwillGross
362217000
CY2017Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2018Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
294815000
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
153128000
CY2018Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
141687000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
283445000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
142021000
CY2018Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2017Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2018Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
307842000
CY2018Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2489000
CY2017Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1696000
CY2018Q2 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6382000
CY2017Q2 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
5043000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
24262000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
21063000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
19178000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
15548000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
48555000
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
61079000
CY2018Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16012000
CY2018Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16700000
CY2018Q2 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
2586000
CY2018Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17226000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17348000
CY2018Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4771000
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4835000
CY2018Q2 us-gaap Customer Deposits Current
CustomerDepositsCurrent
3759000
CY2017Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
3634000
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
13419000
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
17497000
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3142000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1235000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1408000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
419000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1244000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1101000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-55000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
92000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1736000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1318000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3780000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2787000
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.160
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.319
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.116
CY2017Q2 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
1400000
novt Effective Income Tax Rate Reconciliation Nontaxable Gain On Acquisition Of Business And Deferred Tax Liability Write Off
EffectiveIncomeTaxRateReconciliationNontaxableGainOnAcquisitionOfBusinessAndDeferredTaxLiabilityWriteOff
0.189
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017 novt Tax Cuts And Jobs Act Of2017 Additional Income Tax Provision From Revaluation Of Certain Deferred Tax Assets And Liabilities At The New Tax Rate
TaxCutsAndJobsActOf2017AdditionalIncomeTaxProvisionFromRevaluationOfCertainDeferredTaxAssetsAndLiabilitiesAtTheNewTaxRate
2800000
novt Income Tax Measurement Period Under Asu740
IncomeTaxMeasurementPeriodUnderASU740
P1Y
CY2018Q2 us-gaap Restructuring Costs
RestructuringCosts
988000
CY2017Q2 us-gaap Restructuring Costs
RestructuringCosts
163000
us-gaap Restructuring Costs
RestructuringCosts
988000
us-gaap Restructuring Costs
RestructuringCosts
200000
CY2017Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1418000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1476000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2198000
us-gaap Restructuring Charges
RestructuringCharges
988000
us-gaap Payments For Restructuring
PaymentsForRestructuring
269000
novt Restructuring Reserve Settled Without Cash And Other Adjustments
RestructuringReserveSettledWithoutCashAndOtherAdjustments
-7000
CY2018Q2 us-gaap Restructuring Reserve
RestructuringReserve
1518000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
5096000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
149000
us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-1815000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2018Q2 novt Gross Margin Percentage
GrossMarginPercentage
0.434
CY2017Q2 novt Gross Margin Percentage
GrossMarginPercentage
0.449
novt Gross Margin Percentage
GrossMarginPercentage
0.428
novt Gross Margin Percentage
GrossMarginPercentage
0.437
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9120000
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7094000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18187000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13576000
novt Number Of Primary End Market Segments
NumberOfPrimaryEndMarketSegments
2
CY2018Q2 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1.00
CY2017Q2 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1.00
novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1.00
novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1.00

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