NOVANTA INC [NOVT] has reported a net loss of $72.9 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $881.7 million
Based in BEDFORD, Massachusetts, NOVANTA INC operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, the reported revenue was $881.66 million, showing an increase compared to the previous year's figure of $860.90 million in 2022 and $706.79 million in 2021.
The cost of revenue for the same period was $481.77 million, slightly lower than the previous year's $482.43 million in 2022 but higher than the $406.47 million in 2021.
Gross profit for the period was $399.90 million, up from $378.47 million in 2022 and significantly higher than the $300.33 million reported in 2021.
Operating income for the 12 months ended December 31, 2023, amounted to $110.50 million, showing an increase compared to $103.08 million in 2022 and $64.05 million in 2021.
The net income for the period was $72.88 million, slightly lower than the $74.05 million reported in 2022 but higher than the $50.33 million in 2021.
Regarding earnings per share, the basic earnings per share for 2023 were $2.03, a decrease from $2.08 in 2022 but an improvement from $1.42 in 2021. The diluted earnings per share were $2.02 in 2023, compared to $2.06 in 2022 and $1.41 in 2021.
These results reflect a positive trend in the company's financial performance, with steady revenue growth and improved profitability compared to the previous reporting periods.
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