NOVANTA INC
For the period ended Sep 27, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 27, 2024 · Filed Nov 5, 2024
NOVT$123.71-15.3%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
| Nine Months Ended | ||
|---|---|---|
| September 27, | September 29, | |
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $47,623 | $60,367 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 41,200 | 35,065 |
| Provision for inventory excess and obsolescence | 7,325 | 6,563 |
| Impairment of assets | — | 1,421 |
| Share-based compensation | 18,672 | 18,378 |
| Deferred income taxes | (11,908) | (12,328) |
| Inventory acquisition fair value adjustments | 2,777 | — |
| Other | 1,273 | 1,289 |
| Changes in assets and liabilities which (used)/provided cash, excluding effects from business acquisitions: | ||
| Accounts receivable | (16,087) | (6,371) |
| Inventories | 416 | 5,619 |
| Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets | (2,378) | (3,444) |
| Accounts payable, income taxes payable, accrued expenses and other current liabilities | 7,506 | (24,759) |
| Other non-current assets and liabilities | 531 | (717) |
| Net cash provided by operating activities | 96,950 | 81,083 |
| Cash flows from investing activities: | ||
| Cash paid for business acquisitions, net of working capital adjustments | (191,200) | — |
| Purchases of property, plant and equipment | (14,913) | (13,741) |
| Net cash used in investing activities | (206,113) | (13,741) |
| Cash flows from financing activities: | ||
| Borrowings under revolving credit facilities | 198,000 | — |
| Repayments under term loan and revolving credit facilities | (95,983) | (82,047) |
| Payments of withholding taxes from share-based awards | (8,924) | (10,171) |
| Other financing activities | (534) | (565) |
| Net cash provided by (used in) financing activities | 92,559 | (92,783) |
| Effect of exchange rates on cash and cash equivalents | 4,243 | 1,297 |
| Decrease in cash and cash equivalents | (12,361) | (24,144) |
| Cash and cash equivalents, beginning of the period | 105,051 | 100,105 |
| Cash and cash equivalents, end of the period | $92,690 | $75,961 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $25,376 | $19,290 |
| Cash paid for income taxes | $18,807 | $28,684 |
| Income tax refunds received | $1,069 | $275 |
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