Novanta (NOVT) FY2016 results: revenue $385 million, up 3.0% on the year
Novanta Inc. (NOVT) reported revenue of $385 million for fiscal 2016, the year ended 31 December 2016, up 3.0% on the year before. Net income was $22 million, down 38.2%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2017.
Revenue
$385 million
+3.0% on the year
FY2009FY2016
Operating margin
8.6%
7.7% a year earlier
FY2009FY2016
Net income
$22 million
-38.2% on the year
FY2009FY2016
Diluted EPS
$0.63
-38.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
385
374
365
+3.0%
Cost of revenue
222
216
215
+3.1%
Gross profit
162
158
150
+2.9%
Gross margin
42.2%
42.3%
41.2%
Research and development
32.0
31.0
29.0
+3.1%
Selling, general and administrative
81.3
82.0
84.4
-0.9%
Operating income
33.0
28.9
-16.8
+13.9%
Operating margin
8.6%
7.7%
-4.6%
Interest expense
4.6
n/a
n/a
Pre-tax income
32.5
46.0
-17.9
-29.3%
Income tax
10.5
10.4
-1.0
+1.2%
Effective tax rate
32.3%
22.6%
n/a
Net income
22.0
35.6
-24.3
-38.2%
Net margin
5.7%
9.5%
-6.6%
Diluted EPS
$0.63
$1.02
-$0.70
-38.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
47.8
33.4
42.3
+43.0%
Capital expenditure
8.5
5.6
5.4
+52.4%
Free cash flow
39.3
27.9
36.9
+41.1%
Free cash flow margin
10.2%
7.5%
10.1%
Cash from investing
-12.9
-1.6
-89.8
Cash from financing
-23.2
-21.5
40.3
Depreciation and amortisation
21.0
20.2
24.4
+3.8%
Share-based compensation
4.3
4.4
4.3
-2.1%
Buybacks
1.6
1.6
n/a
+0.4%
Diluted shares, weighted
35m
35m
34m
+0.2%
Shares outstanding at period end
34m
34m
34m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
259
245
211
+5.8%
Non-controlling interest
n/a
n/a
0.4
Debt
77.9
95.8
112
-18.7%
Other liabilities
88.8
75.5
72.7
+17.6%
Total liabilities and equity
426
416
396
+2.3%
Fixed assets
35.4
40.5
40.1
-12.6%
Goodwill
108
103
90.7
+4.5%
Intangible assets
61.7
66.3
67.2
-6.8%
Cash and equivalents
68.1
60.0
51.1
+13.6%
Receivables
63.8
57.2
51.5
+11.5%
Inventory
59.7
59.6
62.9
+0.3%
Other assets
28.7
29.1
32.6
-1.1%
Total assets
426
416
396
+2.3%
10-K for the year ended 31 December 2016, filed 6 March 2017: the filing.