of the first Thank Matthijs. in And XXXX, and a revenue of decline good basis. everyone. X% an you, We X% on a decrease reported $XXX.X basis organic of morning delivered on quarter a year-over-year million in
to basis with requested in the concerned guided already slightly customers product up ended under than disruptions better supply demand hence of the we to Matthijs indicated, of stock being in first our pandemic. early previously finished As safety some weather the shipment quarter build chains, largely that goods and were
continue revenue to quarter. sales the shift end-markets in the year-over-year our rose of a DNA more quarter. to X% XX% who This increased and the market to In Sales sequencing first medical end customers towards despite serve by total the quarter, double-digit in our these OEM was market. first in decline first
medical Key and include well performed products. smoke barcoding evacuation consumables end-markets have business integrated and our our RFID with integrated
saw the into continued our products. strong also medical growth We new end-markets new integrated Informatics as introduced such in products OR
the The industrial Novanta’s PMI by markets year-over-year trends. saw climate of first overall industrial to environment the in economic capital as latest all the spending and declined was total sales and XX% evidenced sales quarter. XX% declines,
in across expectations majority with many and markets. our with what of same declines seen are the OEM high The end-markets, double-digit our those consistent decline was industrial which broad customers industrial seeing based is
is improvement we market saw and customers up the XX% are microelectronics significant less XXXX. This the networking cloud-based based One for low-single first a area are quarter. decline of still our in is seeing high-speed the in specific But is declines digit of first we Sales company to infrastructure. quarter. sales microelectronics demand a the a our that market than semiconductor XG, little adoption the on made in increased with total
the were weakening our and On first disruptions industrial U.S. were those reflecting the quarter year-over-year by X% in X% sales the down actually geographical climate to despite year-over-year the up Sales countries. China Europe to a caused basis, pandemic.
only the sales the first of Our overall XX% XX% U.S. XXXX. of revenue mix versus shifted quarter of total in with in
sales can the be is the trends. is figures on these different headquartered. where Nevertheless, are reminder, sometimes where product which than our As represent to, customer a shipped we feel a channel locations of directional based
$XX XXXX. .Our of sales or On XX% basis million the $XX non-GAAP profit to to or million was was the gross sales, to first adjusted Turning gross in or first $XX.X of XX.X% quarter quarter profit million GAAP or of sales, of in profits $XX.X XX% of a XX.X% first compared million compared XXXX. quarter
at margins quarter compared drove during gross were mixed of our XXXX, growth The mainly margin gross medical product by to consumables our adjusted first impacted unfavorable which the quarter. lack For the roughly expansion line, was XXXX. effects continued flat
This will seeing technology. the for our producing record particularly efforts incredible and our to smoke all for that of our evacuation are is consumables incorporate which factories the remained safe key infection doctors in operating those demand We all of employees, hospital keep a products Thanks from customers. medical and staff innovation room. our open
challenges lockdowns, restrictions chains, significant travel challenges. supply around and logistics the Despite disruptions,
and As low an of today, level a we are maintaining high extremely engagement. absenteeism from our employees of
on Moving expenses. operating to
$XX to were expenses or X.X% XXXX. R&D sales sales, or quarter of in the of first quarter First million million $XX compared of X.X%
headwinds to pipelines. in lean continue We the and innovation invest our into
to provides challenges. in track in take The significant opportunity Novanta within customer significant despite to market our current climate, the view, our remain economic both more and opportunities growth beyond. growth on and with XXXX us capture share our The and drive customers programs the
or of sales or $XX million First the for compared Quarter XX% of XX.X% first to sales quarter expenses XXXX. were of SG&A $XX million
other operating million in the income $XX $XX GAAP in financial million of results, to quarter first XXXX, on to compared XXXX. was Moving
quarter or of first million And quarter $XX million to non-GAAP XXXX. compared or was the in $XX was million XX% in first prior quarter operating income of year. XX% sales XXXX, the Adjusted $XX.X first sales the of the $XX.X EBITDA to in of in million compared
benefits first windfall rate jurisdictional On from of of GAAP based driven Canadian awards. the the rate zero from differed stock the tax by for tax of largely tax compensation income, mix front quarter was the or nearly and XX% statutory XXXX,
is fall X%. benefits rest a tax we result quarter impacts first year. more rates compensation in On the based and the from not first only anticipated, than awards. This favorable the wind of a quarter tax non-GAAP of with reoccur stock This will as the basis our for
adjusted a was share of in non-GAAP first was quarter to On On per a GAAP compared year. share share $X.XX basis in per earnings compared to quarter prior the the diluted the in diluted per first quarter in last earnings earnings of year. $X.XX $X.XX $X.XX the
This quarter cash moderate of need. the good working capital was $X.X First and net was compared operating profit in driven reduction million XXXX. to flow quarter first or result operating a million $XX.X by
$XXX the with was our X.X of growth end - At gross of quarter million ratio first times. the leverage and
was the debt or times. net X.X roughly as of end the million $XXX Our quarter, of first
XXXX December and we our until expense. our amendment Following extension credit of facility, reducing the XXXX, extended date end interest maturity of the also our while
accordion to from facility million we XXXX, by and end the reset revolving the under million to again facility the $XXX credit option exercised our our and accordion features potential credit amended for revolving of $XXX $XXX future the committee’s $XXX million credit At agreement the facility. amendment March committed This credit million increased expansion.
liquidity us cash economic these result a now is our of us weighted interest million, capacity. actions, presented being interest of million capacity $XXX our rate than itself. $X full-year million nearly of in anticipated give all the $XXX be right than capacity and the of expense Because this of around million climate revolver opportunity actual our X.X%. consequence average consists $XX more The hand and is more acquisition gives on is immediate weather quickly XXXX to overall and which to unused slightly This
moment the other the this and or for are including time economic at the XXXX. recovery, and uncertain reliably environment of not we to the we and what pandemic, of duration quarter first are the Due and COVID-XX the Novanta’s speak I’ll business, to of to seeing that beyond scope to full-year operations results. timing estimate results, take pandemic now the of future public the the a financial uncertain current the global able health and impact impact
at are today perspective we demand. seeing what terms in of can we Thought some give around least you
the at behaviors and and quarter. the economies clearly quarter, first the of the our third As worldwide in more second second than March of economic implications to are in the quarter, closures April, and look customers first impact going we our quarter
lag by customers XX revenue XX-days. could revenue our to Novanta’s
So weaker of while to than impact in we were expecting revenue quarter. the the felt rationally be second majority the our first quarter quarter, third
risks today, their second reflects customers. we quarter than bottom the be does the chain it million stand from disruptions we disruptions expect here $XXX end As customer supply The to revenue at to the more $XXX of range million. factories our in of and/or range risks demand of
we are customer end In perspective, range. other words, upper the from a trending to of demand the
sold As which we for or majority the medical the our equipment, of industrial is the either the advanced before, in products capital discussed prevalent markets more for are end-markets.
Over focused the last we years, secular on investment. win our have want we have cycles. on maximize have applications relentlessly Knowing feel design and two we longevity year we to And because growth return to them.
of far, April As that to and the to most our push customers the our return we of outs cash. expecting expenditures of rebound thus characterized drops as see the health public of to taken to experience consequences we customers we majority best a demand are capital expect are and do do deferrals growth. measures resurgence Absent conserve as revenue feel in
where exciting business there many design see of momentum around and Despite challenges, aspects we new are activities. the our products win particularly building,
processing and China’s seeing early are stabilizing and particularly capital infrastructure XG material applications. investments signs returning markets of spending laser growth around industrial based We some
impacting our first mentioned China As growth the despite still quarter, we previously, to manage show in there. pandemic
we than optional quarter that elective of an in this is procedures Whereas that one two surgery advance, this term elective we feel rather procedure tied drop that will is situation. plus strongly type quickly. or is elective the the to second in to is in simply one the emergency business done see rebound might third planned medical surgical that While our of halt imply and expecting months, are for
the the for hospitals are we equipment and when drive of suites growth demand growth. lockdowns, these new centers the then reemerge will Surgical patience pent from to our consumable start up profit and
end-markets and of As business than to base expected medical will to sales. is of possible of total year procedures of are the markets. medical more as finish their this back emergency to industrial faster some come a It point tied is our both reference, sales that sales than more surgical of market XX% elective our XX% at end
despite our impairing However, the improve to to long-term the our and to our control prospects maximize our without company our quickly. strategy in our we of employees recover need capabilities, our take costs, business, our profitability measures and ability or the we disenfranchising competence cash flows growth damaging recognize
have we following actions. the Therefore, taken
officers a base cash XX% in the of approximately agreed to million plans compensation. we have $X.X off, reduction our XXXX and reduction cash First the includes or in This of salaries. Novanta, our elimination bonus
across company, have increases eliminated we eliminated plans importantly, the our the we pay most base have XXXX. roles. And for Second, all annual annual for across bonus planned Novanta all of entire
million, employee special is February the single of every in made which of a stock have officers, four for fully than totaling we unit XXXX. Novanta restricted other But grant onetime April vesting in $XX.X
from of equity employees the because us our maintain recover of ownership employees and talent, pandemic. an will believe we on so quickly the through decided allow culture we strongly Create end grant focus this We keep crisis. time to can our and this grants, inevitable our this amongst capabilities mindset
strongly grant maximizing outlays. and engaged, also Company’s keep to our running adjusted work-from-home minimizing from EBITDA the while helps equity employees factories and cash environments this our We even actively believe
the of share amortization of our grant. should that investing, this by because will note be impacted earnings I per one-time accelerated the
XXXX, approximately full-year now the of $XX.X million. For to compensation be we expect expense stock
one other implemented to across our the of working are employee travel lines. compensations is globally, downturn. to have flow our the reduced we also bans discretionary strengthen areas, profitability company cash the spending we These during and In staff for changes way business economic
mentioned we Frozen employee million UK the upwards year. hiring in activity for call. including and $XX expenditures, of that capital in the of manufacturing expansion non-critical the in last our the facility recruiting time new Differed
a companywide program. implemented furlough We
certain March. Company’s And have the finally cash Act. temporary payroll of share new accordance taxes deferring program of are in the repurchase to payments stop we with end U.S. We Cares since
flow. focus of the our to the maximizing This these in cost R&D capabilities Our our as to or adjusted customers, protecting at is focus on time programs, over times. cash the and while pandemic on impacts same as our critical priority incremental few help next navigate terms employees our and preserving extraordinary us of well innovation the temporary be our months customer EBITDA demand, the and in operate will
specifically COVID-XX were a outbreak. shipping than the in costs incremental In to our the open products spent less stemming to our little the first and incurred These mitigate XXX,XXX we to challenges customers. safety our ensure the quarter, employees, from keeping factories continuing costs our of
we As higher. second expect these quarter, costs the look be to materially may we
disruptions the scenarios We protecting recognize company, scenarios the a were the the we a that predicting of we pandemics temporary. worst financial thus case model consequences remains the potential moving to aimed while in company actions of recognizing target, are conceive, and can took multitude therefore analyzed have under far the economic potential the
this, needs sufficient and more meet million of than nearly facilities, from on as would more $XX operating borrowing cash-on-hand we well flows capacity XX-months. of our under million strongly our than activities to Based revolving the believe credit the over $XXX be anticipated available are cash next as
economies that cash believe the secured and continue aggressively execute available to strategies. recover acquisition we pursue is addition, In and ample global to have now
environment. for the represent to into in more thankful different current the than areas. our of strongest well some customers than XX portfolio us world. niche positions selling The more are XXXX the weather diversity of our companies With customers We application financially
across model fabric Company. the this in to never the our deep the institutionalizing business have of go cultural Finally, crisis units, waste, of and Novanta aggressively system a into we operating and letting spirit growth progressing
processes way of through common accelerate system vigorously a working common is Novanta performance. sustained and a growth tools applied drive operating The growth and to set and
and achieving of XXXX, satisfaction, areas speed-to-market, applying rigorously growth in by optimization. will in Novanta goals in that assist feel enormously We customer our system margins especially gross in us inventory
of or very to been commitments and we look excited proud our difficult us our employees, continuing our our shareholders. forward on to and about to environment. commitment future helping And weather the their deliver customers and In performance importantly, most of summary, are employees this our
and questions. the now concludes our for This call will prepared we up remarks open
