BEDFORD, Mass. (AP) — BEDFORD, Mass. (AP) — Novanta Inc. (NOVT) on Monday reported fourth-quarter profit of $17.5 million.
The Bedford, Massachusetts-based company said it had profit of 45 cents per share. Earnings, adjusted for non-recurring costs, were 91 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The photonic and motion control components maker posted revenue of $258.3 million in the period.
For the year, the company reported profit of $53.8 million, or $1.47 per share. Revenue was reported as $980.6 million.
For the current quarter ending in March, Novanta expects its per-share earnings to range from 75 cents to 80 cents.
The company said it expects revenue in the range of $250 million to $255 million for the fiscal first quarter.
Novanta expects full-year earnings in the range of $3.50 to $3.65 per share, with revenue ranging from $1.03 billion to $1.05 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOVT at https://www.zacks.com/ap/NOVT
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