India, May 7 -- Novanta Inc. (NOVT) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $14.68 million, or $0.41 per share. This compares with $18.27 million, or $0.51 per share, in last year's first quarter.
Excluding items, Novanta Inc. reported adjusted earnings of $26.63 million or $0.74 per share for the period.
Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.4% to $230.92 million from $219.13 million last year.
Novanta Inc. earnings at a glance (GAAP) :
-Earnings (Q1):...