Novanta (NASDAQ: NOVT) reported Q4 EPS of $0.53, $0.09 better than the analyst estimate of $0.44. Revenue for the quarter came in at $147.5 million versus the consensus estimate of $147.05 million.

“We are very pleased with the company’s performance in 2020, despite the challenges caused by the COVID-19 pandemic,” said Matthijs Glastra, Chief Executive Officer of Novanta. “The fourth quarter played out as expected; revenue increased sequentially, and our customer orders were up 26% sequentially, giving us a 1.09 book-to-bill. We also expanded our Adjusted EBITDA Margins and once again had record cash flows. This performance gives us significant confidence as we enter the new year, and we are excited to continue to execute on our strategy as a company.”

GUIDANCE:

Novanta sees Q1 2021 EPS of $0.35-$0.39, versus the consensus of $0.48. Novanta sees Q1 2021 revenue of $155-157 million, versus the consensus of $151.11 million.

• For the first quarter of 2021, the Company expects GAAP revenue of approximately $155 million to $157 million.
• The Company expects Adjusted EBITDA to be in the range of $27 million to $29 million and Adjusted Diluted EPS to be in the range of $0.35 to $0.39.

“We are encouraged by the increase in demand we are seeing across a number of applications, particularly in our advanced industrial markets. We expect to launch a record number of new products in 2021, double the number released in 2020, and we believe these will contribute to our growth trajectory this year,” said Matthijs Glastra.

For earnings history and earnings-related data on Novanta (NOVT) click here.