Novanta Inc. (NASDAQ:NOVT) Q1 2020 Earnings Conference Call - Final Transcript

May 12, 2020 • 10:00 am ET


Novanta Inc. (NASDAQ:NOVT) Q1 2020 Earnings Conference Call - Final Transcript


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Good morning. My name is Chuck, and I will be your conference operator for today. At this time, I would like to welcome everyone to Novanta Incorporated 2020 First Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Ray Nash, Corporate Finance Leader. Please go ahead, sir.

Ray Nash

Thank you very much. Good morning, and welcome to Novanta's first quarter 2020 earnings conference call. I'm Ray Nash, Corporate Finance Leader of Novanta. With me on today's call is our Chief Executive Officer, Matthijs Glastra; and our Chief Financial Officer, Robert Buckley.

If you have not received a copy of our earnings press release issued today, you may obtain it from the investor relations section of our website at Please note, this call is being webcast live and will be archived on our website shortly after the call.

Before we begin, we need to remind everyone of the Safe Harbor for Forward-Looking Statements that we have outlined in our Earnings Press Release issued earlier today and also those in our SEC filings. We may make some comments today both in our prepared remarks and in our responses to questions that may include forward-looking statements.

These involve inherent assumptions with known and unknown risks and other factors that could cause our future results to differ materially from our current expectations. Any forward-looking statements made today represent our views only as of this time. We disclaim any obligation to update forward-looking statements in the future even if our estimates change. So you should not rely on any of these forward-looking statements as representing our views as of any time after this call.

During this call, we will also be referring to certain non-GAAP financial measures. A reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures, is available as an attachment to our earnings press release. To the extent that we use non-GAAP financial measures during this call that are not reconciled to GAAP measures in the earnings press release, we will provide reconciliations promptly on the investor relations section of our website after this call.

I'm now pleased to introduce the Chief Executive Officer of Novanta, Matthijs Glastra.

Matthijs Glastra

Thank you, Ray. Good morning, everybody. And thanks for joining our call. I hope all of you and your families are healthy and safe. Before we start our normal quarterly results review, I would like to first talk about the topic on everybody's mind which is the COVID-19 pandemic. I want to take a moment to thank our employees, our customers and our suppliers all of whom are making extraordinary efforts to maintain supply of our mission critical products to the people who need them most.

I have been extremely impressed and I could not be more proud of how my colleagues around the world have stepped