Novanta (Nasdaq: NOVT) saw its stock shoot up 20% in value this morning after announcing that it nearly doubled its profits in the third quarter, a set of results that beat Wall Street expectations.
Bedford, Mass.–based Novanta – which provides photonics, vision and precision motion technologies to medical equipment makers and advanced manufacturers – earned $14.6 million, or 60 cents per share, off $160.8 million in revenue for the quarter ended Sept. 28. The results were up from earnings of $7.5 million off $146.3 million in revenue for the same quarter a year before.
Get the full story on our sister site Medical Design & Outsourcing.
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