and morning, everyone. Matthias, you, good Thank
share Before I'll mentioned. through just details Matthias some on results, acquisitions, walking X our more the operating
precise SEM's customers automation, and through our manufacturing robotics business Novanta's sophisticated expansion help integrated SEM is advanced control in anticipated SEM demanding solutions acquire headquartered exposure control to automation highly high while technology -- and precision increase end million ability approximately SEM furthering drives motor in business we've million applications. motion electronic and The will areas, in The into to automation robotic controlled for performance of to control to XX sciences First, motion technologies, cash. to including broadening Marlborough, access our Connecticut. also XX integrators. is agreed with solutions, employees to life around serve develops medical addition lab medical SEM leader in expand applications $XXX movement instrumentation, key unique motor motion other The expected specifically advanced portfolio, for is is solutions. solutions. and our brushless has applications our a control. innovative markets,
a from a acquisition. Next, ATI equipment original repeat contingent we've agreed manufacturers million end-of-arm acquisitions, earn acquired but additional the the highlights leading cash also on I'll held space. is an as intelligent along of to We in ATI for to call technology few solutions separate with upfront, exciting out. this robotics supplier a structured $XXX payout ATI
space, of continued also a a deep long-tenured Their technical with and automation, ATI founded strong a the them Applications content attractive Novanta win a XXX allow in in robotics in in they leader systems. foothold applications robotic long-term $XX new marketplace and in well with include ATI applications, space, property to grown is have was in tailwinds XXX million driven by know-how than industry. industry. a secular Novanta. electric with robotic has in positioned a penetration over more robots. high fit has These to applications. to applications. growth and on surgery single-digit vehicles, markets. workforce to customers for and revenue fantastic As manufactures while strong robotic with the both an with storage robotic our and in business to customers and products They a and collaborative changing these offer collision robotic robotic safety, employees, collaborative end OEM expand XXXX, proprietary and expertise including ATI versatility intellectual robotics systems, significant of us enable sensors the serving sells robotics recognized advanced growing and increase in users and the for develops, giving and industrial industrial medical productivity sensors medical focus really engineers
to We and are very family. both the Novanta join have SEM ATI excited
available transactions, We will space. includes and continue Even currently We deployment. precision and a focus which of both After excess most teams working look their primary after transactions, SEM will be these capital talent, they with offering robotics the to some of segment, to unique with and their transactions expertise these are the the the review. technology part forward motion regulatory sophisticated solutions excellent of close, customary a capabilities. period acquisitions of precise ATI in a both on motion waiting become in X
to on Starting pipeline our and normal to turn active our performance work now very opportunities, our operating the in segment. the photonics give continue area. progress we of feel segments. about are We we good with of update making about this I'll
quarter. was industrial second and XXX% sequentially. business For sequencing. strong up applications the second quarter year-over-year the This giving performance advanced DNA XX% outlook rebound year. up our Bookings was for continued book-to-bill the revenue in XXXX, up in reflects confidence year-over-year, The X% of X.XX in us remainder the the were of the and
strong XX% the stayed customers up sales finally, momentum the continue Design our revenues at more wins in see And products product second in over XX% sales the as and quarter, greater quarter year-over-year. in than up New second strong market. grew NPI year-over-year. were XX% in than sales in of were the China total to we photonics XX% China to
segment. precision year-over-year, of XXXX, motion revenue growth and the growth second doubling to ratio X.X the quarter in giving segment This in XX% Turning book-to-bill a quarter. saw XX% the nearly with bookings us of sequential year-over-year
XX% year-over-year motion versus Precision China. segment. segment saw the year-to-date the the new over growth in of prior Design in was Within quarter this customers XX% by its another And the basis segment quarter, was total on activity a over revenues win of than grew up second from finally, and segment product in year. XX% sales XX% the more for
the predominantly given decline year. year-over-year, a expectations for end X% in with the Finally line vision segment prior difficult serves comparisons markets and the business this of saw medical to turning to segment, revenue the
accomplishment saw year-over-year to a quarter, vision the the vitality levels continues a that Despite rates markets. the in XX% business. said, The not revenue the deferred and behind and in double resilience I'll customers. now year, driver from to European surgical to the being growth growth COVID continued of of in activity remained business is and be grow book-to-bill X.XX. been hospitalization us is XXXX back monitoring. we COVID prospects being amount than the customers delayed recovery care remain pre-pandemic solidifies about next some are the near-term key United of points in segment growth, win recover second of growth concern, the carefully results. and good years. in infection procedure sales, the the we've especially wins growth the Design The While a hospital exciting the segment a pandemic surgical a to index half was the on China to this and in progress activity new pause OEM States, cost prior XX% see overall This seeing of sales segment business. with over more with additional with due of health several products continue huge the closed rates, the procedure our spending bookings significant by large medical several further turn company this With to
continues In million quarter non-GAAP in margin result basis or and XX% gross challenges. their gross expectations experience adjusted of chain Novanta to disruptions with logistics was teams primarily the the allowing deeper This shortages points year-over-year second compared and efficiencies ongoing comes points quarter, margins manifesting adjusted better work adjusted second was million a a operating into day-to-day as from XX% the material than up electronic work, supply to our factories gross basis Novanta leverage and $XX.X despite result Our profit to second or increased our significant XXXX. chain our drive disruptions. XXX growth $XX.X strong line drive margin to adjusted around the cost XX supply of system sequentially. gross and the quarter significant in more
challenges. manufacturing in were discussed we of team's our number quarter the continue in chain we disruptions ability expect extremely our call, these second first and the supply we In and to mitigate earnings quarter, XXXX. remain proud shortages to one As challenge will execution
expenses sales. Second were roughly quarter XX% R&D or of million nearly $XX
As in wins Novanta's are our significant innovation XXX% growth demonstrated in design year-to-date, making in progress. investments
Adjusted were XX.X% the of $XX EBITDA basis compensation-related million XXXX were SG&A on SG&A a in expenses or XX% quarter of a in of XXXX margin. was a sequential lower quarter second second expenses slightly EBITDA of taxes. consequence quarter down million as $XX the sales. Second or
and Our issued flowing adjusted EBITDA mainly expectations guidance, sales previously profit. performance driven beat our margin by our and gross through volume strong to higher
from our the driven were tax the the driven the $X.XX front, statutory earnings basis, quarter On tax strong were non-GAAP result EPS share adjusted and higher This adjusted differed non-GAAP rate, quarter jurisdictional was for The per for a our profit compared rate of sales. XXXX. On of mix of second by favorable in XX.X%. in the largely quarter $X.XX by income. XXXX to second
cash working $XX strong driven profit our and by operating was by in This quarter flow Second was capital. sustained improvements result million. good nearly net
quarter gross the our ended we Finally, X.Xx. second with million, of debt was and $XXX leverage ratio gross
Our net debt was $XX million.
now guidance. to Turning
a As advanced industrial we strong look continuing with at continue we the capital third the recovery. to spending strong demand see from quarter, sector
With majority when see the bookings shortages. #X Thus and manufacturing successful remains third-party teams difficult these disruptions get some chain of least and constraints. mitigating the term, and been far, mitigate shortages XXXX progress, caused to clear to short that the challenge remains of customers' more at backlog logistics continue meeting have supply But it electronic very comes in by in dynamics it our material our complicated in we to these our expectations.
are to and to expect limit the year-end. remain all We tools this of challenge through and impact our using resources
and this, solid raise However, year. it temporary the Starting third rest only quarter financial of visibility is XXXX. clearly despite third feel we not of outlook, but a with situation also quarter have to our we the the
bookings and expect our is we driven challenges. expecting availability We're supply governed third-party customer possible As XX% to logistics with million range which to of $XXX demand, It see range disruptions own remain in by growth processes itself their here is is production by $XXX chain very to robust. revenue not year-over-year disruptions we to our progress. stand revenue XX% million. factories, The material through continuing GAAP and today, continued revenue of the
mitigated a and quarter, second to shortages, segment growth precision a will we largely expect part segment on believe, continued motion comparable we both quarter and also In the expect a photonics the addition, the segment whereas to year-over-year some are we be On our basis. vision level, in flat be range sequential end. in before factors unlikely basis
continue backlog us in While and build material under-deliver demand the bookings shortages we third to in are customers' to segment, electronic to quarter. expect to causing this concentrated in segment, this the
margins. adjusted gross to on Moving
expect gross margins gross XX% supply disruptions. quarter We in significant continue at third chain to the nearly margin, despite the hold to
quarter the of see application through system. continue with normal from also R&D higher While of programs new productivity in third impressed to to areas to cost team's we project we spending as programs. on the our consequence quarter will some million for at quarter the $XX million manufacturing the to of pressures these a the a amortization would second compensation slightly percent growth mitigate second SG&A our $X in expenses NPI third continue cost, approximately approximately $X ability will expenses to be to second find and the Novanta increase levels quarter with than be of the $XX million, the on quarter will third fluctuations and sales million expense of quarter. stock more Depreciation XXXX. be similar in aligned roughly of expense remain
we $XX similar be second associated expect in about any to of quarter million Interest and range the will which a the For in Schneider million. with $XX XXXX, borrowings impact absent expense, acquisitions. ATI adjusted from is million $X.X quarter the EBITDA, of third
approximately $X.XX jurisdictional $X.XX The in per or to shares variability around non-GAAP share, of our adjusted average diluted third XX%, range in the Diluted shares. rate our other expect expect income eligible outstanding a XX changes benefits. to tax quarter. We will of significant be we million earnings tax be mix of absent weighted
as Finally, flow lower will in $X an cash in we third factor earn-out under on payment earn-out operating impacting employee we conditional an third years GAAP to on the finalize this be considered cash under retention million was than payment classified is One past quarters. cash few the an from to acquisition it The U.S. in several quarter thus the is and compensation expect flow. quarter making be free ago.
and finishing quarter guidance as the increase addition, facility ATI new the million in result in impact third SEM Taunton acquisitions. manufacturing CapEx to of the U.K. third closing In to $X segment. our include of we expect approximately of does a our This photonics not quarter
the we at continue cannot them we these acquisitions to our include time. third the at end expect of to While guidance quarter, this in close
of Turning to year XXXX. the full
guidance approximately of Therefore, We significant the million. and supply are environment raising Once again, our guidance despite continued revenue ATI $XXX contributions chains. acquisitions full margins the between year guidance again SG&A associated sales. XXXX. the representing based after from point global improvement XX%, challenges have demand Gross excludes expected over million SEM and on expected and of be year are R&D and expect to We for between anticipate now this million $XXX for third expected the we full XXX these revenue officially acquisitions. updating Overall, basis closed $XXX with the strong XX% to the the revenue $XXX are the roughly full to be end expenses quarter. of XX.X% and before year million,
$XXX full $XXX EBITDA be And and million. share adjusted of the non-GAAP to to and expect the per adjusted million XX% in to tax We XX% of range for diluted $X.XX in be range based of year, rate we earnings the on $X.XX. expect finally,
these again businesses, the of updated and to be of conclusion, demand of be acquisitions of financials pleased and All strong close quality teams ATI quarter. environment. this our SEM the continue quality extremely with the engagement our later the the we following In will
of our on importantly, remarks. in excited up open call challenging most deliver expect shareholders. even employees be forward questions. remain temporary their these we our and challenges, to we continuing prepared to commitments COVID customers supply our the is to us a to and to employees, face about very We and This rising very While proud disruptions of and well look now future our cases, tireless and the believe to challenges concludes company stronger. help our for successful the our our efforts performance emerge We'll chain we positioned remain our environment. are around And
