$NOVT
NOVANTA INC

2020 Q3 Form 10-Q Financial Statement

#000156459020037326 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $144.7M $154.1M $155.1M
YoY Change -6.06% -4.18% 3.15%
Cost Of Revenue $86.00M $90.00M $89.36M
YoY Change -4.44% -1.32% 4.92%
Gross Profit $58.70M $64.05M $65.78M
YoY Change -8.36% -8.01% 0.85%
Gross Profit Margin 40.56% 41.58% 42.4%
Selling, General & Admin $24.91M $27.90M $29.20M
YoY Change -10.72% -4.12% -0.09%
% of Gross Profit 42.43% 43.56% 44.4%
Research & Development $14.44M $13.80M $13.39M
YoY Change 4.64% 4.55% 6.67%
% of Gross Profit 24.6% 21.54% 20.35%
Depreciation & Amortization $9.437M $9.840M $9.040M
YoY Change -4.1% 6.97% -0.88%
% of Gross Profit 16.08% 15.36% 13.74%
Operating Expenses $45.00M $45.80M $50.68M
YoY Change -1.74% -1.08% 5.33%
Operating Profit $13.70M $12.80M $15.11M
YoY Change 7.03% -39.03% -11.74%
Interest Expense -$1.701M -$1.800M -$2.160M
YoY Change -5.5% -21.74% -15.66%
% of Operating Profit -12.42% -14.06% -14.3%
Other Income/Expense, Net -$22.00K $0.00 -$70.00K
YoY Change 52.17%
Pretax Income $11.70M $11.00M $12.90M
YoY Change 6.33% -40.86% -12.14%
Income Tax $36.00K $2.100M $2.522M
% Of Pretax Income 0.31% 19.09% 19.55%
Net Earnings $11.66M $8.923M $10.38M
YoY Change 30.67% -38.69% -5.64%
Net Earnings / Revenue 8.06% 5.79% 6.69%
Basic Earnings Per Share $0.33 $0.25 $0.30
Diluted Earnings Per Share $0.33 $0.25 $0.29
COMMON SHARES
Basic Shares Outstanding 35.14M 35.07M 35.00M
Diluted Shares Outstanding 35.58M 35.59M 35.50M

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.50M $61.40M $66.10M
YoY Change 58.79% -45.08% -38.4%
Cash & Equivalents $97.49M $61.41M $66.09M
Short-Term Investments
Other Short-Term Assets $10.40M $11.90M $11.70M
YoY Change -12.61% 25.26% 31.46%
Inventory $107.4M $118.6M $113.3M
Prepaid Expenses
Receivables $88.40M $98.70M $88.80M
Other Receivables $6.700M $6.300M $5.000M
Total Short-Term Assets $310.4M $296.9M $284.9M
YoY Change 4.55% -5.2% -3.67%
LONG-TERM ASSETS
Property, Plant & Equipment $109.6M $111.6M $103.3M
YoY Change -1.79% 68.58% 59.76%
Goodwill $273.8M $44.16M $230.4M
YoY Change 520.03% 5.52%
Intangibles $152.2M $168.1M $152.8M
YoY Change -9.46% -1.25%
Long-Term Investments
YoY Change
Other Assets $15.10M $12.70M $2.191M
YoY Change 18.9% 32.29% 39.11%
Total Long-Term Assets $550.6M $561.1M $498.5M
YoY Change -1.87% 25.75% 11.76%
TOTAL ASSETS
Total Short-Term Assets $310.4M $296.9M $284.9M
Total Long-Term Assets $550.6M $561.1M $498.5M
Total Assets $861.0M $858.0M $783.4M
YoY Change 0.35% 12.98% 5.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.40M $47.00M $50.02M
YoY Change -1.28% -2.69% 17.67%
Accrued Expenses $42.40M $52.50M $25.00M
YoY Change -19.24% 81.03% 13.64%
Deferred Revenue $4.235M $4.549M $3.056M
YoY Change -6.9%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.054M $1.300M $600.0K
YoY Change 288.77% -85.71% -93.43%
Total Short-Term Liabilities $129.3M $124.9M $98.55M
YoY Change 3.52% 15.12% 5.96%
LONG-TERM LIABILITIES
Long-Term Debt $211.9M $227.5M $214.6M
YoY Change -6.84% -8.0% -6.02%
Other Long-Term Liabilities $23.34M $36.82M $20.80M
YoY Change -36.62% 93.76% 38.7%
Total Long-Term Liabilities $235.3M $264.3M $235.4M
YoY Change -10.99% -0.74% -3.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $129.3M $124.9M $98.55M
Total Long-Term Liabilities $235.3M $264.3M $235.4M
Total Liabilities $429.1M $455.1M $397.2M
YoY Change -5.71% 13.83% 8.58%
SHAREHOLDERS EQUITY
Retained Earnings -$56.46M
YoY Change -49.67%
Common Stock $464.9M
YoY Change 2.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $431.9M $402.9M $386.2M
YoY Change
Total Liabilities & Shareholders Equity $861.0M $858.0M $783.4M
YoY Change 0.35% 12.98% 5.61%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $11.66M $8.923M $10.38M
YoY Change 30.67% -38.69% -5.64%
Depreciation, Depletion And Amortization $9.437M $9.840M $9.040M
YoY Change -4.1% 6.97% -0.88%
Cash From Operating Activities $33.80M $6.900M $15.40M
YoY Change 389.86% -74.73% -23.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.300M -$2.400M -$3.200M
YoY Change -4.17% -57.14% -27.27%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$24.30M -$28.80M
YoY Change -100.82% 1115.0% 4.73%
Cash From Investing Activities -$2.200M -$26.70M -$32.00M
YoY Change -91.76% 246.75% 0.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.000M 15.20M 7.800M
YoY Change -159.21% -201.33% -29.09%
NET CHANGE
Cash From Operating Activities 33.80M 6.900M 15.40M
Cash From Investing Activities -2.200M -26.70M -32.00M
Cash From Financing Activities -9.000M 15.20M 7.800M
Net Change In Cash 22.60M -4.600M -8.800M
YoY Change -591.3% -200.0% 1157.14%
FREE CASH FLOW
Cash From Operating Activities $33.80M $6.900M $15.40M
Capital Expenditures -$2.300M -$2.400M -$3.200M
Free Cash Flow $36.10M $9.300M $18.60M
YoY Change 288.17% -71.73% -23.77%

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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 as of 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 such revisions are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions, including estimated economic implications of the COVID-19 pandemic, and various other assumptions that it believes are reasonable under the circumstances. The accounting estimates assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was not a material change to the consolidated financial statements related to these estimates as of and for the three and six months ended July 3, 2020, the Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods. </p>
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
3159000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
1430000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
7129000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
14095000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
24713000
CY2019Q3 novt Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssets
2244000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
96932000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
2598000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities
6721000
CY2019Q3 novt Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherLiabilities
14462000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
23781000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
73151000
CY2019Q3 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
3159000
CY2019Q3 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
69992000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-4817000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
346000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
11660000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
10380000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34981000
us-gaap Profit Loss
ProfitLoss
22633000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35137000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34998000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35145000
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
442000
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
505000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
425000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
510000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35579000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35503000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35570000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35491000
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
26000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2020Q2 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
1000000.0
CY2020Q2 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
1100000
CY2020Q1 novt Payment For Asset Acquisition Contingent Consideration Liability
PaymentForAssetAcquisitionContingentConsiderationLiability
2600000
CY2020Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
1118000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-2011000
CY2020Q3 us-gaap Goodwill
Goodwill
273817000
CY2020Q3 us-gaap Goodwill Gross
GoodwillGross
425046000
CY2020Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2020Q3 us-gaap Goodwill
Goodwill
273817000
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
425939000
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2019Q4 us-gaap Goodwill
Goodwill
274710000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
335934000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
196791000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
139143000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
341211000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
188063000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153148000
CY2020Q3 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2019Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2020Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
348961000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
196791000
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
152170000
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
354238000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
188063000
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
166175000
CY2020Q3 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2716000
CY2019Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2446000
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
5450000
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
4757000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3410000
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3772000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6855000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7770000
CY2020Q3 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6126000
CY2019Q2 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
6218000
novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
12305000
novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
12527000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
12397000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
24731000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
22325000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
19507000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15412000
CY2020Q3 novt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
44771000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
139143000
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
64510000
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
76268000
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16760000
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
15096000
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
24317000
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
23431000
CY2020Q3 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
1793000
CY2019Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
1823000
CY2020Q3 us-gaap Inventory Net
InventoryNet
107380000
CY2019Q4 us-gaap Inventory Net
InventoryNet
116618000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9941000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15359000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5084000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5756000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4235000
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3219000
CY2020Q3 novt Business Combination Deferred Cash Consideration
BusinessCombinationDeferredCashConsideration
22535000
CY2019Q4 novt Business Combination Deferred Cash Consideration
BusinessCombinationDeferredCashConsideration
27735000
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
9263000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
70326000
us-gaap Lease Cost
LeaseCost
5343000
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1307000
CY2020Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
17073000
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16950000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
68131000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5756000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4510000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1166000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1477000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
78000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1798000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1167000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-40000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-8000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5084000
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4890000
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6194000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14845000
CY2020Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
654000
CY2019Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
1473000
CY2020Q3 novt Contingent Consideration Liability Noncurrent
ContingentConsiderationLiabilityNoncurrent
9852000
CY2019Q4 novt Contingent Consideration Liability Noncurrent
ContingentConsiderationLiabilityNoncurrent
16504000
CY2020Q3 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
6635000
CY2019Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
4065000
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23335000
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
36887000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
5054000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5031000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
211946000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
215334000
CY2020Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
217000000
CY2019Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
220365000
us-gaap Lease Cost
LeaseCost
4972000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34300000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
35180000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4875000
CY2020Q3 novt Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
19822000
novt Lessee Operating And Finance Lease Option To Extend And Terminate Description
LesseeOperatingAndFinanceLeaseOptionToExtendAndTerminateDescription
Certain leases include terms such as an option to purchase the property, one or more options to renew, with renewal terms that can extend the lease term from one to 10 years, and options to terminate the leases within one year.
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1870000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2042000
us-gaap Operating Lease Cost
OperatingLeaseCost
3907000
us-gaap Operating Lease Cost
OperatingLeaseCost
3865000
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
247000
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
177000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
495000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
355000
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
108000
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
101000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
218000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
206000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
344000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
408000
us-gaap Variable Lease Cost
VariableLeaseCost
723000
us-gaap Variable Lease Cost
VariableLeaseCost
546000
CY2020Q3 us-gaap Lease Cost
LeaseCost
2569000
CY2019Q2 us-gaap Lease Cost
LeaseCost
2728000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5043000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
33400000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
34108000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
38275000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
39151000
CY2019Q4 novt Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
19748000
CY2020Q3 novt Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
5215000
CY2019Q4 novt Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
4649000
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1307000
CY2020Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14607000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
15099000
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
9263000
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6194000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14845000
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
15457000
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16152000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0558
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0560
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0307
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0309
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
218000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
294000
us-gaap Operating Lease Payments
OperatingLeasePayments
3993000
us-gaap Operating Lease Payments
OperatingLeasePayments
4264000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
680000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
283000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2164000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5471000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2842000
CY2020Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
788000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6929000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
9314000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6036000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
907000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5091000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
930000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4559000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
954000
CY2020Q3 novt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
25975000
CY2020Q3 novt Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
4440000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
51432000
CY2020Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
17333000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13157000
CY2020Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1876000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
38275000
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
15457000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5648000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2378000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8847000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5105000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1300000
CY2020Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1300000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.114
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.112
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.057
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.103
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.106
CY2020Q3 us-gaap Restructuring Costs
RestructuringCosts
698000
CY2019Q2 us-gaap Restructuring Costs
RestructuringCosts
2134000
us-gaap Restructuring Costs
RestructuringCosts
1353000
us-gaap Restructuring Costs
RestructuringCosts
3370000
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1545000
CY2019Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2179000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2551000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2997000
CY2020Q3 novt Restructuring Acquisition And Related Costs
RestructuringAcquisitionAndRelatedCosts
2243000
CY2019Q2 novt Restructuring Acquisition And Related Costs
RestructuringAcquisitionAndRelatedCosts
4313000
novt Restructuring Acquisition And Related Costs
RestructuringAcquisitionAndRelatedCosts
3904000
novt Restructuring Acquisition And Related Costs
RestructuringAcquisitionAndRelatedCosts
6367000
us-gaap Restructuring Charges
RestructuringCharges
1353000
us-gaap Payments For Restructuring
PaymentsForRestructuring
1974000
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
-237000
CY2020Q3 us-gaap Restructuring Reserve
RestructuringReserve
1215000
us-gaap Legal Fees
LegalFees
600000
CY2020Q3 us-gaap Legal Fees
LegalFees
600000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
144728000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155145000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300196000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312331000
CY2020Q3 us-gaap Gross Profit
GrossProfit
58702000
CY2019Q2 us-gaap Gross Profit
GrossProfit
65782000
us-gaap Gross Profit
GrossProfit
123147000
us-gaap Gross Profit
GrossProfit
132071000
CY2020Q3 novt Gross Margin Percentage
GrossMarginPercentage
0.406
CY2019Q2 novt Gross Margin Percentage
GrossMarginPercentage
0.424
novt Gross Margin Percentage
GrossMarginPercentage
0.410
novt Gross Margin Percentage
GrossMarginPercentage
0.423
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
13701000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15105000
us-gaap Operating Income Loss
OperatingIncomeLoss
26951000
us-gaap Operating Income Loss
OperatingIncomeLoss
29498000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9437000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9040000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18767000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18114000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
144728000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155145000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300196000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312331000
novt Number Of Primary End Market Segments
NumberOfPrimaryEndMarketSegments
2
CY2020Q3 novt Percentage Of Revenue By End Market
PercentageOfRevenueByEndMarket
1
CY2019Q2 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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