Novanta reports Q3 adjusted EPS 85c, consensus 85c

Reports Q3 revenue $244M, consensus $242.33M. “Our team delivered strong third quarter results, at the top end of our guidance range, driven by the strength of our diversified business and the Novanta (NOVT) Growth System operating model,” said Matthijs Glastra, Chair and Chief Executive Officer. “The third quarter demonstrated continued sequential improvement in our revenue growth rate, and customer bookings increased 13% year-over-year for our core businesses. We also saw our minimally invasive surgery products achieve a book-to-bill ratio of 1.4 in the quarter, signaling positive momentum with our new product launches.”