$NOVT
NOVANTA INC

2017 Q4 Form 10-Q Financial Statement

#000156459018027107 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3
Revenue $146.9M $146.3M
YoY Change 48.53% 49.69%
Cost Of Revenue $84.70M $87.60M
YoY Change 51.25% 55.77%
Gross Profit $62.20M $58.70M
YoY Change 44.99% 41.46%
Gross Profit Margin 42.34% 40.12%
Selling, General & Admin $27.40M $27.60M
YoY Change 41.97% 36.65%
% of Gross Profit 44.05% 47.02%
Research & Development $11.80M $11.70M
YoY Change 47.5% 45.96%
% of Gross Profit 18.97% 19.93%
Depreciation & Amortization $8.400M $8.864M
YoY Change 64.71% 71.65%
% of Gross Profit 13.5% 15.1%
Operating Expenses $41.80M $42.50M
YoY Change 42.18% 50.63%
Operating Profit $20.40M $16.20M
YoY Change 51.11% 21.97%
Interest Expense -$2.600M -$2.800M
YoY Change -966.67% 460.0%
% of Operating Profit -12.75% -17.28%
Other Income/Expense, Net $100.0K -$100.0K
YoY Change -80.0% -133.33%
Pretax Income $16.60M $9.500M
YoY Change 37.19% 28.38%
Income Tax $9.700M $1.100M
% Of Pretax Income 58.43% 11.58%
Net Earnings $8.900M $7.500M
YoY Change 14.1% 53.97%
Net Earnings / Revenue 6.06% 5.13%
Basic Earnings Per Share
Diluted Earnings Per Share $251.4K $215.5K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.1M $92.10M
YoY Change 46.99% 52.23%
Cash & Equivalents $100.1M $92.15M
Short-Term Investments
Other Short-Term Assets $10.70M $8.300M
YoY Change 91.07% 69.39%
Inventory $91.28M $88.90M
Prepaid Expenses
Receivables $81.48M $83.00M
Other Receivables $4.400M $8.100M
Total Short-Term Assets $287.9M $280.4M
YoY Change 44.48% 49.55%
LONG-TERM ASSETS
Property, Plant & Equipment $61.72M $60.20M
YoY Change 74.24% 60.11%
Goodwill $211.0M
YoY Change 95.13%
Intangibles $155.0M
YoY Change 151.12%
Long-Term Investments
YoY Change
Other Assets $4.018M $16.00M
YoY Change -67.86% -3.03%
Total Long-Term Assets $438.8M $441.9M
YoY Change 93.84% 95.19%
TOTAL ASSETS
Total Short-Term Assets $287.9M $280.4M
Total Long-Term Assets $438.8M $441.9M
Total Assets $726.7M $722.3M
YoY Change 70.73% 74.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.79M $39.70M
YoY Change 23.53% 53.28%
Accrued Expenses $26.90M $26.60M
YoY Change 47.8% -7.96%
Deferred Revenue $4.790M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.119M $9.100M
YoY Change 23.8% 22.97%
Total Short-Term Liabilities $98.17M $95.80M
YoY Change 39.25% 50.16%
LONG-TERM LIABILITIES
Long-Term Debt $225.5M $242.0M
YoY Change 219.61% 175.63%
Other Long-Term Liabilities $15.14M $11.40M
YoY Change -19.09% -10.24%
Total Long-Term Liabilities $240.6M $253.4M
YoY Change 169.57% 152.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.17M $95.80M
Total Long-Term Liabilities $240.6M $253.4M
Total Liabilities $368.2M $413.2M
YoY Change 120.81% 151.49%
SHAREHOLDERS EQUITY
Retained Earnings -$127.7M
YoY Change -23.76%
Common Stock $457.2M
YoY Change 0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $311.5M $309.1M
YoY Change
Total Liabilities & Shareholders Equity $726.7M $722.3M
YoY Change 70.73% 74.51%

Cashflow Statement

Concept 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $8.900M $7.500M
YoY Change 14.1% 53.97%
Depreciation, Depletion And Amortization $8.400M $8.864M
YoY Change 64.71% 71.65%
Cash From Operating Activities $22.10M $11.80M
YoY Change 68.7% -23.87%
INVESTING ACTIVITIES
Capital Expenditures -$2.600M -$3.400M
YoY Change -51.85% 13.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$133.5M
YoY Change 1335.48%
Cash From Investing Activities -$2.600M -$136.9M
YoY Change -52.73% 1013.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.80M 126.8M
YoY Change 461.9% -1434.74%
NET CHANGE
Cash From Operating Activities 22.10M 11.80M
Cash From Investing Activities -2.600M -136.9M
Cash From Financing Activities -11.80M 126.8M
Net Change In Cash 7.700M 1.700M
YoY Change 40.0% -126.98%
FREE CASH FLOW
Cash From Operating Activities $22.10M $11.80M
Capital Expenditures -$2.600M -$3.400M
Free Cash Flow $24.70M $15.20M
YoY Change 33.51% -17.84%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CashAndCashEquivalentsAtCarryingValue
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2017Q4 us-gaap Inventory Net
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CY2017Q4 us-gaap Accrued Income Taxes Noncurrent
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CY2017Q4 us-gaap Liabilities
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CY2017Q4 us-gaap Commitments And Contingencies
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us-gaap Cost Of Goods And Services Sold
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novt Restructuring Charges Acquisition And Divestiture Related Costs Benefits
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us-gaap Operating Expenses
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CY2017Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Depreciation And Amortization
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us-gaap Inventory Write Down
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us-gaap Share Based Compensation
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us-gaap Income Loss From Equity Method Investments
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novt Inventory Acquisition Fair Value Adjustment
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us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Product Warranty Accrual Payments
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us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
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us-gaap Use Of Estimates
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<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>
us-gaap Number Of Businesses Acquired
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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novt Restructuring Reserve Settled Without Cash And Other Adjustments
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novt Effective Income Tax Rate Reconciliation Nontaxable Gain On Acquisition Of Business And Deferred Tax Liability Write Off
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0.137
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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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
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2800000
novt Income Tax Measurement Period Under Asu740
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P1Y
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137000
us-gaap Restructuring Costs
RestructuringCosts
1125000
us-gaap Restructuring Costs
RestructuringCosts
200000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6032000
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
806000
us-gaap Restructuring Charges
RestructuringCharges
1125000
us-gaap Payments For Restructuring
PaymentsForRestructuring
512000
CY2018Q3 novt Gross Margin Percentage
GrossMarginPercentage
0.433
CY2017Q3 novt Gross Margin Percentage
GrossMarginPercentage
0.401
novt Gross Margin Percentage
GrossMarginPercentage
0.430
novt Gross Margin Percentage
GrossMarginPercentage
0.423
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9199000
CY2017Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8864000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27386000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22440000
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
1408000
us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-1926000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
45202000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
novt Number Of Primary End Market Segments
NumberOfPrimaryEndMarketSegments
2
CY2018Q3 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1.00
CY2017Q3 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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