and today about good I'll our giving some by Matthijs Matthijs, so morning, you, Thank details start everyone. discussed company the results. revenue, additional
better XXXX. basis margin profit was quarter In of $XX.X adjusted third gross gross to system or the gross in our $XX.X and improvement margin facility, which day-to-day our optics or unexpected to came factory the leverage factories Taunton margins result in production their that of relation drive in third an growth points in to million drive non-GAAP as to have stoppage. to from chain in deeper costs Our production aging XX% go third ongoing we of The our supply resulted operating a the results infrastructure gross spite million down facility a the compared our strong quarter XX% work the year-over-year. facility, and Taunton adjusted in allowing XXX significant productivity. that issue work, adjusted quarter. adjusted In challenges increased comes This the quarter, Novanta in the disruption teams caused
the margins. We to associated approximately costs XXX basis estimated this the gross have disruption points Novanta with overall at
now running, is back to impacting to some fourth us experience production and in While up costs additional continue we quarter. expect the
$XX minimize existing are However, calls, a the in completed phased prior meantime, our made mentioned to week. we end make keys to Taunton second last investment production we mitigate be million continue processes capital of is new the we us over expected the improvements our the quarter. And in for as to significant facility In we were to move, than future in facility. disruptions. preparing The which to that handed have a and production production by more
below were expectations. In chain. Taunton supply in to disruption disruptions addition companies these and these in the impact what negative Novanta the quarter, are The range. XX% other experience those supply -- The this, overall of supply dates. constraints none for we the had Taunton product rescheduled organic mid-single-digit we similar chain customers' reporting, in a impact sales and than and resulted reductions, had to obviously were anticipated, overall in net shipping they of less impact our disruptions we the continue other delivered as to chain future our shortages growth Despite revenue lost of the than to of more
ways this we being new with next to the While minimize us the few to impact the customers. expect through stay and mitigate our to disruptions to continue That and quarters. find grow, we continue theme said, continue to the company to
XX% roughly were Moving were SG&A on, third expenses of or quarter $XX or third XX.X% the And quarter million million R&D sales. of $XX.X sales. expenses
Therefore, EBITDA the EBITDA This the partial quarter XXXX of both artificially in we're quarter, SG&A for R&D two expecting dollar acquisitions to or the full of were low as the million a was quarter to and $XX included basis margin. the quarter. expenses a XX% Adjusted on acquisitions. fourth due of a sales quarter third and related having percent step-up in
our performance partial Our the from quarter through mainly beat guidance, from the the profit EBITDA the adjusted higher our sales by acquisition. driven volume previously of ATI effect expectations and expenses operating and flowing issued some
On earnings third rate was front, tax the per This and The were mainly compensation. the a year. was third non-GAAP income, the the to driven a XX% driven compared in of statutory quarter tax rate XX%. prior by On our by profit tax the our the quarter rate an of non-GAAP a more from versus results quarter XXXX share adjusted in of again strong $X.XX from increase sales jurisdictional XXXX, significant windfall from benefit EPS for year-over-year. $X.XX basis, of favorable adjusted higher equity favorable in differed along with mix
Third quarter in nearly million, operating with $XX our flow line cash was was which expectations.
the operating than reminder, flow was a third lower we quarter cash experienced of factors. As two because normally
earn-out The where the which And paid was by to the the the The Zettlex the out transactions. an not corresponding second did of acquisition financing yet first earned the associated IMS those acquisitions, $X was our later cash flows deals the cash caused ATI years reason from with and cash. quarter of from versus was few flows. due a timing generate is issue in income ago, operating million
fourth We in expect the to normalize operating quarter. cash flow
in the as down new is a new manufacturing for the quarter in the as our manufacturing facility United just of Taunton, issue, we million In in production third replacement experienced result facility was progress $X CapEx the Kingdom. addition, line discussed. optics This site plant that the
were $XXX the the performance The quarter, a customer to factory the XX% of by the pay both deals Finally, Photonics industrial quarter revolving the sequential $XXX close the an was revenue sequentially, by unprecedented nearly of were the down to in all caused in Starting an and performance segment on balances transactions. XXXX the segments. to despite to ending by operating Since million segment which were debt revenue year-over-year the cash borrowed credit I hit with we experience up use Taunton our million shortages. now book-to-bill the factor X.XX was quarter, chain to quarter the the sequencing. business start in various the in third able third the third our will on facility additional for million. year-over-year we strong $XX X resulted and closed, was Photonics our of year-over-year applications decline at debt supply was up DNA and XX% hard in million $XXX to the ratio closed margin Despite challenges were turn and the update quarter. XX% demand disruption. net help down in Taunton and disruption continues Bookings the the gross
In and Design in additive excellent up greater sales doubled third drilling platform XX% in micro-machining. manufacturing, sales were wins total driven welding XX% and hole of NPI product year-over-year addition battery quarter such year-over-year. via the revenues were by than applications strong laser as stayed wins e-mobility new
the China. motion the XX% for acquisitions. basis. by And a of tells lease to heavily the Novanta win beat quarter. and growth of sequential motion year-over-year. with the XX% doubled an segment sales, $XX product XX% which the over expectations. help cannot segment the customers segment, performance this contributed The new motion the third year-over-year than more the This the still margin was in quarter XX% and acquisitions potential We're they more businesses Design the Combined In of in new segment impacted happy new that experienced so up Turning approximately sales to these this precision growth represents segment this Precision year far. excluding grew say year-to-date And teams quarter revenue this and X.XX really segment the the the it's and was ratio businesses and partial year-over-year double XX% year-over-year booking finally year-over-year growth the revenue and saw million be impressive in precision from the that quarter. also precision excluding strong initial bring the is in opportunities our acquisitions. segment. was of impact on having on it's XX% motion product this book-to-bill fair was than activity profit fantastic doubled with
the end-market with business difficult year. turning Finally comparisons vision of the year-over-year prior predominantly given of growth to plus experience segment, revenue serves the the in-line expectations medical segment the this X% the and
the is due As elective in Delta of the to pre-pandemic procedures the uptick mentioned, the despite The virus below continue world. volume our spike deferral significant remained XXXX to win surgical to design across following expected impact of Matthijs procedures activities. variant levels revenue the
segments up above this vitality of we've in business. been the new bookings being year. doubled However, sales in this XX% amount the The activities index XX% were X.XX. book-to-bill products of vision of more remained saw key than resilience the of year-over-year prior from especially and segment in win a seeing Design the growth good driver with the quarter activities a
closed years. over the on solidifies with This customers. several a the prospects OEM large wins some further business medial segment huge is next significant this exciting the accomplishment As growth several and has
strong sector Turning a capital look the with the we although The recovering, of still lingering dampered the industrial as continuing is it spending medical is somewhat to from also by at sector we demand the quarter, fourth to see guidance, continue advanced recovery. pandemic. strong effects
#X and logistics backlog our with constraints. supply rest progress, that of chain XXXX the it remains by material disruptions challenge and our bookings third-party be caused for shortages strong With the would clear very
the experienced our to on and we the increased We our and all fourth expectations. using tools quarter. and the challenges the third customers complexity in continue expect minimize resources we into And quarter to are impact
expect have our we feel a year with While continue, this we revenue. again Starting guidance. we headwind raise full solid visibility to to
For the fourth quarter of XXXX.
we As revenue in million here of we GAAP expect million. today, stand the range $XXX $XXX to
this year of the revenue in For the $XXX to into full $XXX XXXX, million million. GAAP translates range
to for disruptions supply to revenue quarter. demand their known today. as account from logistics strong and growth with XX% which XX% them currently and revenue expecting disruptions customer processes the continued are China This We fourth challenges. see range production we as as Energy supply into affecting takes products, disruptions see chain in chain our well our remains year-over-year own
addition, range quarter, in the of which we In from some factors rescheduled the earlier. spoke also the too demand third
strength with book-to-bill strength mid- segment high well gradually in in continued bookings, fourth double-digit of to growth segment the by we Photonics, quarter expect we will growth organic We expect core strong although On growth range. anticipate a the in a quarter, The the acquisitions. of a business normalize. the somewhere teens significant the have level, full continued Motion Precision will driven as as continued
sales the we be dollar a year expect consequence, basis. Xx As a prior to on approximately
see expect in continued to gradual year-over-year Finally, single-digit mid driven well our vision low vitro segment life surgical as we and sciences our to by growth sales. progress diagnostics in basis, on in as strength a
adjusted Moving margin. on to gross
approximately $XX a the basis associated with in representing a fourth fourth mainly is to the company hold as facility are gross XX% the a margins million quarter the quarter the SG&A again approximately driven the are Gross margins quarter continue expense higher be XXX acquisitions in disruptions. fourth $X increase production in in $X quarter. NPI impacted Both higher quarter approximately project margins average by acquisitions. margins. temporary million of the full XXXX. the be compensation be at having over third Amortization will slightly quarter, the Gross Taunton at fourth nearly to third expected and will in of and R&D the quarter more in the below the stock in margins in quarter will gross levels, XXXX $XX will with consequence XX% as expect in approximately the to combined acquisitions million, quarter quarter with gross in-line from quarter the $XX be costs fourth issues We to slightly improvement year to are quarter, million the million the $X expenses in point than over and the between third the XX.X%, will timing full for to the acquisitions. on nature. of be key our fourth million, of full as a was fourth $XX of $XX some million Depreciation by spend expense, expense million newly programs. result well acquired which at a as intangibles from
$XX EBITDA expect adjusted we million a range fourth For $XX million. of to quarter, in the
XXXX, was to For the Interest range million $XXX debt as acquisitions. EBITDA the year we the be from million. in $XXX the of full of a the approximately to quarter will higher quarter about $X the adjusted million average expect expense, third fourth balances $X.X million of in be in which result
income our in XX be consequence expected period. the benefits. will of XX%, compensation outstanding expecting because from mix approximately tax vesting expect significant the rate increase other in the is tax our of any The stock-based weighted no the million place jurisdictional windfall benefit in and taking tax We shares. there non-GAAP current of absent shares not average be rate events to eligible Diluted are quarter around variability changes
share, the diluted adjusted fourth quarter, For in translating $X.XX range of of $X.XX $X.XX XXXX. to full in a we $X.XX year per expect for the earnings to
flows operations. in operating prior despite our Taunton-based quarter cash the the inventory expecting in we're fourth the to and investments investments to to continued ratios return Finally, EBITDA period significant in
a be assume always, does year guidance XXXX foreign not this shaping measures, all significant By up any is Novanta. impacts record for exchange As from to rates.
a achieve per adjusted record level earnings sales, EBITDA share. adjusted of will and We
product wins revenues. pandemic-related amidst level the some significant We most design record experienced And are and also teams accomplishing the of activities, of challenges. this bookings new
the of in to be ability and the our deliver a our our commitments Given our prepared and employees, about importantly, very excited all most now questions. very efforts call the our their we And us company remain about the proud tireless concludes our to look open help sustain forward employees this, the We up This challenging successful we continuing We'll feel to environment. on remain of position, to the performance shareholders. future remarks. to progress. customers for great and
