Novanta (NASDAQ: NOVT) reported Q1 EPS of $0.47, $0.07 better than the analyst estimate of $0.40. Revenue for the quarter came in at $147 million versus the consensus estimate of $139.55 million.

• First Quarter 2018 GAAP Revenue of $147.0 million, up 35% year over year
• First Quarter 2018 GAAP Net Income of $11.9 million
• First Quarter 2018 GAAP Diluted Earnings Per Share of $0.18
• First Quarter 2018 Adjusted Earnings Per Share of $0.47
• First Quarter 2018 Adjusted EBITDA of $28.4 million
• Raising Full Year 2018 Guidance

Financial Outlook

"With a more favorable tax rate outlook and the strong first quarter, we are raising our full year 2018 outlook for revenue, Adjusted EBITDA, and Adjusted Diluted EPS," said Robert Buckley, Chief Financial Officer.

For the full year 2018, the Company expects GAAP revenue of approximately $590 million to $605 million, Adjusted EBITDA in the range of $119 million to $125 million, and Adjusted Diluted EPS to be in the range of $1.93 to $2.02. The Company\'s Adjusted Diluted EPS assumes no significant changes in foreign exchange rates.

For the second quarter of 2018, the Company expects GAAP revenue of approximately $146 million to $149 million. The Company expects Adjusted Diluted EPS to be in the range of $0.47 to $0.50, and Adjusted EBITDA to be approximately $29 million to $31 million. The Company\'s Adjusted Diluted EPS and EBITDA guidance assumes no significant foreign exchange gains or losses.

GUIDANCE:

Novanta sees FY2018 EPS of $1.93-$2.02, versus the consensus of $1.89. Novanta sees FY2018 revenue of $590-605 million, versus the consensus of $592.91 million.

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