$NOVT
NOVANTA INC

2019 Q2 Form 10-Q Financial Statement

#000156459019029035 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $155.1M $156.2M $150.4M
YoY Change 3.15% 6.33% 26.28%
Cost Of Revenue $89.36M $91.70M $85.17M
YoY Change 4.92% 8.26% 29.81%
Gross Profit $65.78M $64.50M $65.23M
YoY Change 0.85% 3.7% 21.95%
Gross Profit Margin 42.4% 41.29% 43.37%
Selling, General & Admin $29.20M $28.30M $29.23M
YoY Change -0.09% 3.28% 22.82%
% of Gross Profit 44.4% 43.88% 44.81%
Research & Development $13.39M $13.30M $12.55M
YoY Change 6.67% 12.71% 39.39%
% of Gross Profit 20.35% 20.62% 19.24%
Depreciation & Amortization $9.040M $9.700M $9.120M
YoY Change -0.88% 15.48% 28.56%
% of Gross Profit 13.74% 15.04% 13.98%
Operating Expenses $50.68M $45.60M $48.11M
YoY Change 5.33% 9.09% 434.36%
Operating Profit $15.11M $18.90M $17.12M
YoY Change -11.74% -7.35% 8.69%
Interest Expense -$2.160M -$2.200M -$2.561M
YoY Change -15.66% -15.38% 78.47%
% of Operating Profit -14.3% -11.64% -14.96%
Other Income/Expense, Net -$70.00K $100.0K -$46.00K
YoY Change 52.17% 0.0% -61.34%
Pretax Income $12.90M $13.60M $14.69M
YoY Change -12.14% -18.07% 0.04%
Income Tax $2.522M $1.900M $3.060M
% Of Pretax Income 19.55% 13.97% 20.84%
Net Earnings $10.38M $11.60M $11.00M
YoY Change -5.64% 30.34% 17.0%
Net Earnings / Revenue 6.69% 7.43% 7.31%
Basic Earnings Per Share $0.30 $0.32
Diluted Earnings Per Share $0.29 $326.8K $0.32
COMMON SHARES
Basic Shares Outstanding 35.00M 34.95M
Diluted Shares Outstanding 35.50M 35.47M

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.10M $82.00M $107.3M
YoY Change -38.4% -18.08% 20.43%
Cash & Equivalents $66.09M $82.04M $107.3M
Short-Term Investments
Other Short-Term Assets $11.70M $9.200M $8.900M
YoY Change 31.46% -14.02% 32.84%
Inventory $113.3M $104.8M $96.38M
Prepaid Expenses
Receivables $88.80M $83.96M $76.75M
Other Receivables $5.000M $1.800M $6.500M
Total Short-Term Assets $284.9M $281.8M $295.7M
YoY Change -3.67% -2.12% 20.37%
LONG-TERM ASSETS
Property, Plant & Equipment $103.3M $65.46M $64.66M
YoY Change 59.76% 6.07% 77.15%
Goodwill $230.4M $217.7M $218.3M
YoY Change 5.52% 3.16%
Intangibles $152.8M $142.9M $154.7M
YoY Change -1.25% -7.82%
Long-Term Investments
YoY Change
Other Assets $2.191M $2.269M $1.575M
YoY Change 39.11% -43.53% -89.43%
Total Long-Term Assets $498.5M $437.8M $446.0M
YoY Change 11.76% -0.23% 46.77%
TOTAL ASSETS
Total Short-Term Assets $284.9M $281.8M $295.7M
Total Long-Term Assets $498.5M $437.8M $446.0M
Total Assets $783.4M $719.6M $741.8M
YoY Change 5.61% -0.98% 34.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.02M $50.73M $42.51M
YoY Change 17.67% 27.49% 12.45%
Accrued Expenses $25.00M $29.10M $22.00M
YoY Change 13.64% 8.18% -5.58%
Deferred Revenue $3.056M $4.165M
YoY Change -13.05%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $600.0K $4.535M $9.127M
YoY Change -93.43% -50.27% 23.34%
Total Short-Term Liabilities $98.55M $104.2M $93.00M
YoY Change 5.96% 6.14% 11.64%
LONG-TERM LIABILITIES
Long-Term Debt $214.6M $202.8M $228.3M
YoY Change -6.02% -10.05% 103.66%
Other Long-Term Liabilities $20.80M $17.19M $15.00M
YoY Change 38.7% 13.51% 9.46%
Total Long-Term Liabilities $235.4M $220.0M $243.3M
YoY Change -3.26% -8.57% 93.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.55M $104.2M $93.00M
Total Long-Term Liabilities $235.4M $220.0M $243.3M
Total Liabilities $397.2M $351.3M $365.8M
YoY Change 8.58% -4.59% 49.24%
SHAREHOLDERS EQUITY
Retained Earnings -$56.46M -$79.09M -$112.2M
YoY Change -49.67% -38.08% -12.1%
Common Stock $464.9M $469.9M $455.7M
YoY Change 2.03% 2.78% 0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $386.2M $368.3M $324.4M
YoY Change
Total Liabilities & Shareholders Equity $783.4M $719.6M $741.8M
YoY Change 5.61% -0.98% 34.96%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income $10.38M $11.60M $11.00M
YoY Change -5.64% 30.34% 17.0%
Depreciation, Depletion And Amortization $9.040M $9.700M $9.120M
YoY Change -0.88% 15.48% 28.56%
Cash From Operating Activities $15.40M $21.90M $20.00M
YoY Change -23.0% -0.9% 19.76%
INVESTING ACTIVITIES
Capital Expenditures -$3.200M -$3.400M -$4.400M
YoY Change -27.27% 30.77% 238.46%
Acquisitions
YoY Change
Other Investing Activities -$28.80M $100.0K -$27.50M
YoY Change 4.73% -27600.0%
Cash From Investing Activities -$32.00M -$3.300M -$31.70M
YoY Change 0.95% 26.92% 2541.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.800M -47.90M 11.00M
YoY Change -29.09% 305.93% -252.78%
NET CHANGE
Cash From Operating Activities 15.40M 21.90M 20.00M
Cash From Investing Activities -32.00M -3.300M -31.70M
Cash From Financing Activities 7.800M -47.90M 11.00M
Net Change In Cash -8.800M -29.30M -700.0K
YoY Change 1157.14% -480.52% -108.43%
FREE CASH FLOW
Cash From Operating Activities $15.40M $21.90M $20.00M
Capital Expenditures -$3.200M -$3.400M -$4.400M
Free Cash Flow $18.60M $25.30M $24.40M
YoY Change -23.77% 2.43% 35.56%

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8271000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6208000
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
379701000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
10380000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3367000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1929000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3780000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1237000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1736000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5105000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
324365000
us-gaap Profit Loss
ProfitLoss
22633000
us-gaap Profit Loss
ProfitLoss
24462000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
18114000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
18187000
us-gaap Inventory Write Down
InventoryWriteDown
1426000
us-gaap Inventory Write Down
InventoryWriteDown
1165000
us-gaap Share Based Compensation
ShareBasedCompensation
5105000
us-gaap Share Based Compensation
ShareBasedCompensation
3780000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2037000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1221000
novt Business Combination Amortization Of Fair Value Adjustment To Inventory
BusinessCombinationAmortizationOfFairValueAdjustmentToInventory
175000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1294000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-278000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3150000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6526000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
8162000
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
5168000
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
-10580000
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
-1203000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
555000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20853000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40365000
novt Payments To Acquire Businesses Net Of Cash Acquired And Working Capital Adjustments
PaymentsToAcquireBusinessesNetOfCashAcquiredAndWorkingCapitalAdjustments
28884000
novt Payments To Acquire Businesses Net Of Cash Acquired And Working Capital Adjustments
PaymentsToAcquireBusinessesNetOfCashAcquiredAndWorkingCapitalAdjustments
27445000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5601000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7259000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-41000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-72000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34444000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34632000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
23643000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
30272000
us-gaap Repayments Of Debt
RepaymentsOfDebt
16100000
us-gaap Repayments Of Debt
RepaymentsOfDebt
21832000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3367000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3339000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1929000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
148000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-283000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-284000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2798000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
439000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1241000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-15950000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
7204000
us-gaap Income Taxes Paid
IncomeTaxesPaid
7858000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
407000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
599000
us-gaap Use Of Estimates
UseOfEstimates
<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;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-254000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
501000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
10380000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
11625000
us-gaap Profit Loss
ProfitLoss
22633000
us-gaap Profit Loss
ProfitLoss
24462000
CY2018Q2 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
625000
us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
1551000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
10380000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
11000000
us-gaap Net Income Loss
NetIncomeLoss
22633000
us-gaap Net Income Loss
NetIncomeLoss
22911000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34981000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34919000
CY2018Q2 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
303000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-5096000
CY2019Q2 novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
10380000
CY2018Q2 novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
11303000
novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
22633000
novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
17815000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34998000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34949000
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
505000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
525000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
510000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
532000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35503000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35474000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35491000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35451000
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
36000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2019Q2 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2018Q4 us-gaap Goodwill
Goodwill
217662000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
13394000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-685000
CY2019Q2 us-gaap Goodwill
Goodwill
230371000
CY2019Q2 us-gaap Goodwill Gross
GoodwillGross
381600000
CY2019Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2019Q2 us-gaap Goodwill
Goodwill
230371000
CY2018Q4 us-gaap Goodwill Gross
GoodwillGross
368891000
CY2018Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2018Q4 us-gaap Goodwill
Goodwill
217662000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
312898000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
173150000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
293298000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
163405000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
129893000
CY2019Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2018Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2019Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
325925000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
173150000
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
152775000
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
306325000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
163405000
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
142920000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
139748000
CY2018Q2 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6382000
novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
12527000
novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
12560000
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14275000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
15982000
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
21396000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
12591000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
23553000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22644000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
19337000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16454000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
45169000
CY2019Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2446000
CY2018Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2489000
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
4757000
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
4969000
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3772000
CY2018Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3893000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7770000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7591000
CY2019Q2 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6218000
CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
75766000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
69008000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17337000
CY2019Q2 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
1860000
CY2018Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
2437000
CY2019Q2 us-gaap Inventory Net
InventoryNet
113297000
CY2018Q4 us-gaap Inventory Net
InventoryNet
104764000
CY2019Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14877000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
24545000
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4890000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4510000
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3056000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4165000
CY2019Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
18361000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
13075000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
41184000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
46295000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4510000
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4835000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1477000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1235000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
78000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1167000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1244000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-8000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-55000
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4890000
CY2018Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4771000
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6764000
CY2018Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
7275000
CY2019Q2 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
2939000
CY2018Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
3758000
CY2019Q2 novt Contingent Consideration Liability Noncurrent
ContingentConsiderationLiabilityNoncurrent
7436000
CY2018Q4 novt Contingent Consideration Liability Noncurrent
ContingentConsiderationLiabilityNoncurrent
3376000
CY2019Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
3661000
CY2018Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
2778000
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
20800000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17187000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4535000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
214562000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
202843000
CY2019Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
214562000
CY2018Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
207378000
novt Lessee Operating And Finance Lease Option To Extend And Terminate Description
LesseeOperatingAndFinanceLeaseOptionToExtendAndTerminateDescription
Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years, and some include options to terminate the leases within one year.
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2042000
us-gaap Operating Lease Cost
OperatingLeaseCost
3865000
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
177000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
355000
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
101000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
206000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
408000
us-gaap Variable Lease Cost
VariableLeaseCost
546000
CY2019Q2 us-gaap Lease Cost
LeaseCost
2728000
us-gaap Lease Cost
LeaseCost
4972000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
38633000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5225000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
35108000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
40333000
CY2019Q2 novt Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
13511000
CY2019Q2 novt Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
7267000
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
6244000
CY2019Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
618000
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6764000
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
7382000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0571
us-gaap Operating Lease Payments
OperatingLeasePayments
4264000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
283000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5471000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3878000
CY2019Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
499000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6240000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
980000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6090000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
907000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5340000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
907000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4687000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
930000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
29138000
CY2019Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
5394000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
55373000
CY2019Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
9617000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15040000
CY2019Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2235000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
40333000
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
7382000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
7797000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
990000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
6263000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
980000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5757000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
907000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5264000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
907000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4719000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
930000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
26149000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
5394000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
55949000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
10108000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2378000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.103
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.208
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.160
CY2019Q2 us-gaap Restructuring Costs
RestructuringCosts
2134000
CY2018Q2 us-gaap Restructuring Costs
RestructuringCosts
988000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9120000
us-gaap Restructuring Costs
RestructuringCosts
3370000
us-gaap Restructuring Costs
RestructuringCosts
988000
CY2019Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2179000
CY2018Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1451000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2997000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1476000
CY2019Q2 novt Restructuring Charges And Acquisition Related Costs Benefits
RestructuringChargesAndAcquisitionRelatedCostsBenefits
4313000
CY2018Q2 novt Restructuring Charges And Acquisition Related Costs Benefits
RestructuringChargesAndAcquisitionRelatedCostsBenefits
2439000
novt Restructuring Charges And Acquisition Related Costs Benefits
RestructuringChargesAndAcquisitionRelatedCostsBenefits
6367000
novt Restructuring Charges And Acquisition Related Costs Benefits
RestructuringChargesAndAcquisitionRelatedCostsBenefits
2464000
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
1276000
us-gaap Restructuring Charges
RestructuringCharges
3370000
us-gaap Payments For Restructuring
PaymentsForRestructuring
1897000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-477000
novt Restructuring Reserve Settled Without Cash And Other Adjustments
RestructuringReserveSettledWithoutCashAndOtherAdjustments
-964000
CY2019Q2 us-gaap Restructuring Reserve
RestructuringReserve
1308000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155145000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312331000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
297365000
CY2019Q2 us-gaap Gross Profit
GrossProfit
65782000
CY2018Q2 us-gaap Gross Profit
GrossProfit
65229000
us-gaap Gross Profit
GrossProfit
132071000
us-gaap Gross Profit
GrossProfit
127388000
CY2019Q2 novt Gross Margin Percentage
GrossMarginPercentage
0.424
CY2018Q2 novt Gross Margin Percentage
GrossMarginPercentage
0.434
novt Gross Margin Percentage
GrossMarginPercentage
0.423
novt Gross Margin Percentage
GrossMarginPercentage
0.428
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15105000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
17115000
us-gaap Operating Income Loss
OperatingIncomeLoss
29498000
us-gaap Operating Income Loss
OperatingIncomeLoss
34342000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9040000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18114000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18187000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155145000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312331000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
297365000
novt Number Of Primary End Market Segments
NumberOfPrimaryEndMarketSegments
2
CY2019Q2 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1
CY2018Q2 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1
novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1
novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1

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