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up XX% compared which Our adjusted XX% margin the quarter margin XXXX. XXX gross excluded gross of was $XXX Motion a or acquisitions impact year-over-year, to Solutions adjusted in but a Adjusted profit our million fourth margins, million quarter basis or core of flat fourth the XXXX adjusted gross were $XXX margins points. gross the non-GAAP gross adjusted were
year was a or adjusted full million or million For adjusted XX% the margin gross XXXX. XXXX, full $XXX gross of the $XXX profit gross year adjusted non-GAAP margin compared XX% to for
into embracing Our teams of our manage better expected volumes, gross factory the on-time was system deep execution performance improve from better production quarter growth customer performance drive cost Novanta result and strong and a in than processes. margin chains our to of the as supply productivity
adjusted the margins were XXX but flat year, For adjusted full were gross nearly year-over-year, basis gross core margins points. up
XX% sales. or fourth approximately were and full Adjusted the million expenses XX% margin expenses $XX the growth And $XXX $XX quarter, demonstrating were or the for full For million $XX versus sales. year-over-year. prior of expenses million the fourth quarter XX% quarter, in in of $XX EBITDA R&D of SG&A year, XX% $XX million. year, for were million a million R&D EBITDA was the roughly year, adjusted Fourth
$XXX For year. prior the was EBITDA full million year versus $XXX approximately in XXXX, the adjusted million
the tax in On quarter rate front, tax our XX%. fourth the non-GAAP was
rate XX% year. versus tax XXXX prior was the year of Our the in for full XX%
increased due tax changes pretax jurisdictional implications increased year-over-year to Our in of Pillar geographical mix tax the X rate and rates. income,
up was Our adjusted XX% share $X.XX quarter, non-GAAP versus the year. earnings the prior per in fourth
in cash a XX% full non-GAAP adjusted year quarter year-over-year of the For $XX for represents was quarter. record Fourth was earnings our share and a $X.XX. operating single up XXXX, million, flow per flow cash nearly
flow versus million, was capital performance and cash up $XXX and our improvements operating from our to XXXX. enhance needs, year more For solid approximately and improving XXXX our on-time working for delivery. cash the our driven quality best-ever flow XX% improve product efficient processes in year reducing profitability XXXX XX% manufacturing full up net by XXXX, was delivering
was fourth the net ratio of debt debt of ratio leverage with $XXX quarter $XXX million, approximately ended less our of and a than We X.Xx. gross us a leverage Xx, million, gross giving with net
of great by goal acquisition on to achieved reducing in net and We pipeline. leverage sheet Novanta's our balance execute year-end, growth our our putting position a
in We our products XX% quarter, Surgery pump book-to-bill endoscopic bookings business our Advanced as are continued surgical Bookings as in the the up formerly sequentially. business, new book-to-bill X% For known in orders posting that X.XX. and strength fourth minimum invasive saw took ramping Novanta a was XXXX. insufflators were X.XX and year-over-year for we
industrial this sciences, OEM advanced demand in and Offsetting DNA life customers was further in sequencing in softness applications.
turning operating our to segments. new Now
the customers segments X second, and and And serving medicine has our manufacturing automation automation industrial which first, serves applications. bioprocessing our customers the health just OEM robotics our Solutions the in and advanced Medical explained, technology segments: and Matthijs space. our operating As care customers mainly we've our enabling precision OEM industry segment, serves science into mainly industry, segment, updated our which medical precision OEM life
also new and updated end segments exposures better market also structure groups. consolidate These reflect our our leadership common into
sales year-over-year, continued grew Automation driven robotics Technologies the segment. and So in now turning Fourth Enabling to applications. quarter by X% recovery automation
the The capital year, continued X.XX, full fourth in was Managers the softness in the declined For book-to-bill as segment Purchasing and quarter for industrial in in sales year X.XX X%. this evident in full was the spending the which demand Index. reflects
in XX% somewhat investments warehouse productivity demand applications nearly in mobile applications. year-over-year, and fourth robotics other in robotic from segment quarter, our robotic by margins Adjusted and niche gross automation was by points in strong offset returning basis this the automation, industry were in This XXX industrial driven factories. up
year-over-year. XX gross points basis For full saw the up a the adjusted XX% year, segment margin
in digits our team solid customer in sockets Design fourth sales upcoming single the by this win execution wins high of and year-over-year new segment quarter, driven to were platforms. up
revenues year-over-year in Index in New Vitality strong sales, the to of year teens the quarter fourth grew and in with prior double percent product line the digit expectations and guidance. similar with
of a by Next, largely organic and organic the revenue next-generation last applications, discussed an call our The experienced as as the high our levels the we into demand growth applications. surgical partially of DNA well decline was product sales our broader in This of declined invasive by which sales minimum from saw our X%. decline caused in weakness growth was advanced insufflator. segment on applications, offset launch surgery reported new basis, as sequencing well science year-over-year Medical as technologies XX% which on for Solutions in life double-digit
for as book-to-bill end XX% weakness year, year-over-year. quarter, DNA and in of the life life For the organic the applications. science surgery by This reported in segment with grew sales full declines the decline of sequencing saw saw revenue XX% offset grew some display as strength in of surgical bookings this well segment X% core general and a and X.XX being advanced in in an products fourth by
was full For book-to-bill the X.XX. the year,
a XXXX. As launches for already new by line, offset orders continue for below we as placing product a of continued result book-to-bill mentioned, to advanced partially large our surgery see business This applications X.XX was weakness in medicine had customers scheduled we saw X. strong precision book-to-bill
in in the decreased the year-over-year tripled the by caused higher in quarter, full business. sequencing fourth gross vitality production Design Adjusted quarter Solutions of XX% driven by Motion the the revenue The sales driven and solid in of Manchester wins this in before our Surgery stoppage segment index the facility on lower year. basis acquisition market. was and fourth margin of the wins factory in year-over-year by XXX in in nearly points in Sigma quarter mix Advanced our products DNA roughly mentioned segment above a utilization for our the fourth
Motion gross approximately gross XXX full Solutions roughly impact improvements Motion increased business. decreased Excluding adjusted of basis Surgery And basis declined in our by year, XXX points, in margins margins Advanced driven XXX the the but points, Solutions, margin excluding the mainly by quarter basis for points. the
saw growth million turning and our reconfirm We of business in medical $XX to our guidance. in product confidently sales strong incremental outlook Now new for XXXX.
new calls, surgical past rooms the majority equipment products of targeting in centers. are operating at hospital sales mentioned and these surgical the As the
gradually demand science in environment to to bioprocessing and volatile and geopolitical in government trade spending capital life continue spending, And depressed markets although are we improving. due see semiconductor impacting evolving remains industrial the capital spending and in
as ordering policy our would and cautiously due outlook behavior optimistic. actions decisions these full characterize retaliatory associated trade in we ever-changing However, customers' to from year volatility the
launch of strong products ability successfully in to from basis which are for us these gives our XXXX, outlook. delivering specific revenue their year in extremely products for in confident revenue into We demand new million full our confidence areas. environment application incremental a $XX the is This
science Our industrial and capital deferred. semiconductors, full life in presumes spending remains bioprocessing volatile year forecast and
OEM Effectively, tariffs of cycle we by such China are line pursuing actions caused news the as in trade with certain and blacklisting retaliatory disruptions first quarter customers.
and volatility incorporating China, National February. and for Europe weakness overall experienced We federal U.S. what our in January spending we customer outlook the also of order and for the including U.S. long cuts, with demand with Health pressures macroeconomic in are in line Institute
dynamics, are of experiencing applications. a in end strong improving. there We these and and in semiconductor already these recession recovery some are despite customers signs However, capital and industrial solely markets. from investments are gradually still automation good launches new robotics and on semiconductor After and spending see growth in in short-cycle industrial X-year product markets, applications leaning demand
and Furthermore, new in hospitals, financial of this contributing we Patient to our specifically and care in critical continue product performance. space, launches growth see a are backdrop our excellent solid to near-term which business medical room remain units. already our operating centers strong at upper for creating some volumes surgical hospital single-digit spending for strength despite
guidance So strengthened given million but growth a product is we our overall the of is $XX risks the or signs, delivering Novanta. to based prudent be year enough on sales eliminate end incremental guidance volatility. full new optimistic associated it XXXX with these Therefore, in our initial X% year more growth markets, our full early are to conservative revenue with positive to of year we and believe better trends
overall year represents mentioned. growth we approximately $X revenue starting so just be to XXXX, of revenue X% with And of the expect approximately the billion, now which GAAP full
is of of to points the to expansion for gross which margins, expect year margin XX% For versus total adjusted approximately XXX the XXXX, XX.X%. basis we full results company deliver
and in Novanta to expect believe We heavily we this growth drive a system XXXX. ability do achieve again the results continue in momentum XXXX, We've to operating we to strong XXXX to demonstrated even to have environment. and our in on continued lean difficult this
be were percent should XX% for is expect be to in $XX should approximately We million, and Stock the and million be sales million as $XXX for similar of $XX for year full expense which R&D sales or XXXX. a between approximately the SG&A to the million expenses year. of Depreciation they what $XXX full full compensation approximately expense year.
year between EBITDA adjusted XXXX, or it expect $XXX we a be $XXX margin. the For million for million to XX% full approximately and EBITDA
the be was Interest to million lower is in market expense, year-over-year of $XX full does potential driven for XXXX. million nearly year rates. interest debt assume XXXX not from drawdown interest The is and future levels any debt current by which expected This the $XX acquisitions. expense roughly paydown
an of tax global rate to non-GAAP This jurisdictional our and average OECD of expect to be pretax X -- XX% year This approximately be to we geographical adjusted for the tax expect tax view our XXXX. around rates approximately the diluted We of outstanding income, mix year minimum current weighted includes the for $XX XXXX of XX% XX% in share guidance Pillar full year-over-year. full impact shares $X.XX. increase million will represents earnings rates. growth Diluted per X% $X.XX and
than demonstrate XXXX. similar Finally, than to conversion non-GAAP net full or growth at we to and expect achieve rate flow cash XXXX, the greater flows we ratios a greater year EBITDA a in for witnessed we cash income to expect of conversion and of XXX% cash solid
compounder, of strategy. this Novanta's acquisition flow essential an cash As component is growth
the teams X the acquisitions. the on rewards that Through entire Two manufacturing years our we accelerate to training teams the deploy compounding ago, these and capital NGS. plans flow establishing to change. progress of years NGS on compensation of incentivize we have while to and towards here by terrific maintain a maintaining expect that cash compensation deployment seen changed last the our And incentives, even foundation
quarter for guidance XXXX. the to now of Moving first
on volatility of we GAAP guide trade market Therefore, a to improving, blacklisting spending The plus their shipments. million increases NIH, growth volatility prudent government near-term of U.S. from been to $XXX certain place factors and had million, revenue customer range ordering represents customers China the revenue customers and actions, flat shipping causing the is which and sentiment the a other particularly significant the in $XXX X%. conservatively. disruptions expect while feel product, cuts, ordering conservative and in war the be impact We at therefore, OEM these and has and geopolitical to of
level, percent by quarter, manufacturing. low to we grow segment continued driven automation mid-single-digit weakness in the Enabling by segment year-over-year At in growth robotics first expect Technology to in Automation the category, offset continued precision revenue and
Our Medical NIH show offset being expected by is Solutions medicine, single-digit segment uncertainties surgery impacted our actions. products by to mostly the as of low customers the China to U.S. new is advanced where now flat in retaliatory ramp-up growth surrounding continued funding weakness in precision and are trade
Moving on to adjusted gross margin.
first to quarter, approximately the XX.X%. expect to be For XX% we
our first the expect in a As be witnessed enabling seasonality some expenses. to In seasonality, to in reminder, gross lower we due fourth typically to than automation Solutions factory the to flat margins was we sees technologies are this of utilization quarter. due segment segment, flat for Medical margins down quarter whereas as expect better the normal to to be up the
We the of first and compensation $X expect be R&D million in and to million; quarter to stock depreciation million. $X expense million expense SG&A at $XX expenses
EBITDA expect to quarter. non-GAAP of Interest expense million. $XX we million first approximately adjusted our in $X a in and rate million tax quarter, the range the we For be first to $XX the be expect XX% quarter, will in first
Pillar changes jurisdictional of X and rate tax income. and in tax is particularly mix Europe Higher in the increases geographical rates,
of expect For a to adjusted share, per range $X.XX. earnings $X.XX diluted we
payments. compensation to the cash First be events expect due somewhat we flows vesting tax of and low equity compensation to payments, seasonal quarter timing of While incentive timing
in strategy. We to also cash position year great putting to the expect acquisition our as flow strengthen a us accelerate progresses,
in as the guidance this due not to the volatility in more trade quarter, dynamics. changes foreign in had FX assume seen significant some rates always, markets geopolitical fourth and does policy any exchange As part of
impact the it's past. than exchange have a recent reported meaningful have of our experienced the difficult results revenue rates may month-to-month And on we to while so predict in more trend
of to anticipated more we intact, we're and the platforms. on product customers our summary, well multiple to about growth feel time. in resiliency markets secular include upside work end does new their In The with potential remains and their of long-term long-term outlook the guidance in acquisitions strength successful continue on and with not end X% of we we this any sales see our markets. optimistic our launches XXXX launches that new customers diligently growth depends at remain our Finally, prospects, positioned to growth our support
As a strategy company, fundamentals business the are confident we and long-term strong. in remains our of the
on promises the are which year We team's pleased and execute consistently Growth the operating fourth us System quarter deeper in model, with ability giving as and is adoption results to the full by of solid the Novanta deliver our XXXX. and evidenced the the
the prepared the what excellence we brings This company business a us. remarks. focused control executing matter on As top and concludes controlling can remain no with on our priorities environment XXXX, for
call I up the questions. open now for will
