Novanta (NOVT) FY2017 results: revenue $521 million, up 35.5% on the year
Novanta Inc. (NOVT) reported revenue of $521 million for fiscal 2017, the year ended 31 December 2017, up 35.5% on the year before. Net income was $60 million, up 172.9%, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$521 million
+35.5% on the year
FY2010FY2017
Operating margin
11.0%
8.6% a year earlier
FY2010FY2017
Net income
$60 million
+172.9% on the year
FY2010FY2017
Diluted EPS
$1.13
+79.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
521
385
374
+35.5%
Cost of revenue
301
222
216
+35.3%
Gross profit
221
162
158
+35.8%
Gross margin
42.3%
42.2%
42.3%
Research and development
41.7
32.0
31.0
+30.2%
Selling, general and administrative
102
81.3
82.0
+25.0%
Operating income
57.6
33.0
28.9
+74.7%
Operating margin
11.0%
8.6%
7.7%
Interest expense
7.2
4.6
n/a
+57.2%
Pre-tax income
76.1
32.5
46.0
+134.1%
Income tax
13.8
10.5
10.4
+31.4%
Effective tax rate
18.2%
32.3%
22.6%
Net income
60.1
22.0
35.6
+172.9%
Net margin
11.5%
5.7%
9.5%
Diluted EPS
$1.13
$0.63
$1.02
+79.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
63.4
47.8
33.4
+32.6%
Capital expenditure
9.1
8.5
5.6
+7.5%
Free cash flow
54.3
39.3
27.9
+38.0%
Free cash flow margin
10.4%
10.2%
7.5%
Cash from investing
-177
-12.9
-1.6
Cash from financing
143
-23.2
-21.5
Depreciation and amortisation
30.8
21.0
20.2
+46.7%
Share-based compensation
5.5
4.3
4.4
+28.0%
Buybacks
0.4
1.6
1.6
-77.4%
Diluted shares, weighted
35m
35m
35m
+1.0%
Shares outstanding at period end
35m
34m
34m
+0.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
312
259
245
+20.3%
Redeemable equity
46.9
n/a
n/a
Debt
235
77.9
95.8
+201.1%
Other liabilities
134
88.8
75.5
+50.4%
Total liabilities and equity
727
426
416
+70.7%
Fixed assets
61.7
35.4
40.5
+74.2%
Goodwill
211
108
103
+95.1%
Intangible assets
155
61.7
66.3
+151.1%
Cash and equivalents
100
68.1
60.0
+46.9%
Receivables
81.5
63.8
57.2
+27.8%
Inventory
91.3
59.7
59.6
+52.8%
Other assets
26.1
28.7
29.1
-9.0%
Total assets
727
426
416
+70.7%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.