Latest news with #Robotics
National Post
3 days ago
- Business
- National Post
OPEX® Corporation Named Platinum Winner of Pinnacle Technology Awards for IoT, Robotics and Automation
Article content MOORESTOWN, N.J. — OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has received Platinum designation from the Pinnacle Technology Awards in the category of IoT, Robotics and Automation. The Pinnacle Technology Awards recognize the most groundbreaking innovations and companies across the technology landscape, honoring excellence and showcasing the power of technology to shape the future. OPEX was lauded for its exceptional achievements and contributions to the technology community. Article content 'We're very honored to receive the Pinnacle Technology Platinum Award,' said Alex Stevens, President of Warehouse Automation, OPEX. 'For 50 years and counting, OPEX has been committed to pushing the boundaries of innovation, creating increasingly more advanced solutions to automate tasks that would otherwise need to be performed manually. This distinguished recognition means so much to our entire team.' Article content OPEX offers a comprehensive suite of technology solutions that enable clients around the world to improve workflow, reduce costs and drive efficiencies in infrastructure. The company's impressive portfolio of more than 300 patents underscores its dedication to lead industry trends, and continuously reimagine automation technology that solves the most significant business challenges, today and in the future. Article content 'It's exciting to recognize the extraordinary talent and innovation shaping our future at the 2025 Pinnacle Tech Awards,' said Kate Lang, Executive Director of the Pinnacle Awards. 'This year's finalists have truly elevated the bar, and their dedication embodies the spirit of technological progress: bold, purposeful and transformative. We're proud to shine a spotlight on these game-changers, and we're confident that their achievements will continue to inspire and reshape the global tech landscape.' Article content This year's Pinnacle Technology Awards spanned 14 categories, with the mission of honoring companies, products, and individuals demonstrating exceptional innovation, creativity and impact in their fields. Submissions were judged by a panel of industry executives, media professionals and consultants. Article content OPEX is celebrating its 50 th anniversary in 2025, marking five decades as a trusted partner to clients around the world in need of customized, scalable solutions that transform how business is conducted. The company continues to provide multi-generational industry expertise, a proven track record developing first-class automation capabilities and advanced engineering, and a heritage of excellence. Article content About OPEX Article content OPEX® Corporation Article content is a global leader in Next Generation Automation, providing innovative, unique solutions for warehouse, document and mail automation. With headquarters in Moorestown, NJ—and facilities in Pennsauken, NJ; Plano, TX; France; Germany; Switzerland; the United Kingdom; and Australia—OPEX has nearly 1,600 employees who are continuously reimagining and delivering customized, scalable technology solutions that solve the business challenges of today and in the future. The year 2025 marks the company's 50 Article content Article content Article content Article content Article content Contacts Article content For Additional Information Article content Article content Laura Evans Article content Article content Article content
Business Wire
4 days ago
- Business
- Business Wire
Novanta Announces Financial Results for the Second Quarter 2025
BOSTON--(BUSINESS WIRE)--Novanta Inc. (Nasdaq: NOVT) ('Novanta' or the 'Company'), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the second quarter 2025. Second Quarter 'Novanta delivered solid second quarter financial results, meeting or exceeding expectations in revenue, margins, and profitability, while rapidly adapting to the ongoing challenging macroeconomic environment,' said Matthijs Glastra, Chair and Chief Executive Officer of Novanta. 'Notably, we achieved 10% growth in bookings, with sequential improvement in the industrial business, and an overall book-to-bill ratio of 1.02 reflecting a strengthening outlook. We are very encouraged by mid-teens revenue growth in our Advanced Surgery and Robotics & Automation businesses, underscoring our strategic focus on high-growth markets and the diversity of our portfolio.' 'Our Novanta team continues to execute effectively using the Novanta Growth System. As a result, we are seeing strong traction from our new product introductions and remain firmly on track to achieving our target of $50 million in new product sales this year. In addition, we secured several significant design wins with global leaders in the medical device and warehouse robotics sectors—key strategic areas that we expect will serve as long-term growth engines for Novanta.' During the second quarter of 2025, Novanta generated GAAP revenue of $241.0 million, an increase of 2.2% or $5.2 million, versus the second quarter of 2024. The Company's acquisition activities resulted in a net increase in revenue of $5.3 million, or 2.3%, compared to the second quarter of 2024. Year-over-year changes in foreign currency exchange rates favorably impacted revenue by 2.0% or $4.8 million, during the second quarter of 2025. Organic Revenue Growth, which excludes the net impact of acquisitions and changes in foreign currency exchange rates, was (2.1)% for the second quarter of 2025 (see 'Organic Revenue Growth' in the non-GAAP reconciliations below). In the second quarter of 2025, GAAP operating income was $14.9 million, compared to $25.7 million in the second quarter of 2024. GAAP net income was $4.5 million in the second quarter of 2025, compared to $13.8 million in the second quarter of 2024. GAAP diluted earnings per share ('EPS') was $0.12 in the second quarter of 2025, compared to $0.38 in the second quarter of 2024. Diluted weighted average shares outstanding was 36.1 million in the second quarter of 2025. Adjusted Diluted EPS was $0.76 in the second quarter of 2025, compared to $0.73 in the second quarter of 2024. Adjusted EBITDA was $52.2 million in the second quarter of 2025, compared to $51.1 million in the second quarter of 2024. Operating cash flow for the second quarter of 2025 was $15.1 million, compared to $41.1 million for the second quarter of 2024. The year-over-year decrease in operating cash flow was primarily driven by the timing of tax payments, and an increase in inventory purchases related to mitigating risks from global trade dynamics as well as the Company's recent acquisition activities. Financial Guidance 'In the coming quarters, we expect to drive sequential revenue and profit growth driven by our innovation pipeline, robust customer demand in secular growth markets, and operational discipline,' Matthijs Glastra continued. For the full year 2025, the Company expects GAAP revenue of approximately $970 million to $985 million. The Company expects Adjusted EBITDA to be in the range of $225 million to $230 million and Adjusted Diluted EPS to be in the range of $3.22 to $3.36. The Company's guidance assumes no significant changes in foreign exchange rates. For the third quarter of 2025, the Company expects GAAP revenue of approximately $244 million to $247 million. The Company expects Adjusted EBITDA to be in the range of $57 million to $60 million and Adjusted Diluted EPS to be in the range of $0.78 to $0.85. The Company's guidance assumes no significant changes in foreign exchange rates. Novanta provides earnings guidance on a non-GAAP basis and does not provide earnings guidance on a GAAP basis, with the exception of GAAP revenue guidance. A reconciliation of the Company's forward-looking Adjusted Gross Profit Margin, Adjusted EBITDA and Adjusted Diluted EPS guidance to the most directly comparable GAAP financial measures is not provided because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including acquisitions and related expenses; impact of purchase price allocations for recently completed acquisitions; future changes in the fair value of contingent considerations; future restructuring expenses; foreign exchange gains/(losses); significant discrete income tax expenses (benefits); benefits or expenses associated with the completion of tax audits; divestitures and related expenses; gains and losses from sale of real estate assets; costs related to product line closures; intangible asset impairment charges and related asset write-offs; and other charges reflected in the Company's reconciliation of historical non-GAAP financial measures, the amounts of which, based on past experience, could be material. For additional information regarding Novanta's non-GAAP financial measures, see 'Use of Non-GAAP Financial Measures' below. Conference Call Information The Company will host a conference call on Tuesday, August 5, 2025 at 10:00 a.m. ET to discuss these results and to provide a business update. To access the call, please dial (888) 346-3959 prior to the scheduled conference call time. Alternatively, the conference call can be accessed online via a live webcast on the Events & Presentations page of the Investors section of the Company's website at A replay of the audio webcast will be available approximately three hours after the conclusion of the call in the Investor Relations section of the Company's website at The replay will remain available until Monday, September 29, 2025. Use of Non-GAAP Financial Measures The non-GAAP financial measures used in this press release are Organic Revenue Growth, Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted Operating Income, Adjusted Operating Margin, Adjusted Income Before Income Taxes, Adjusted Income Tax Provision/(Benefit) and Effective Tax Rate, Adjusted Net Income, Adjusted Diluted EPS, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow as a Percentage of Net Income, and Net Debt. The Company believes that these non-GAAP financial measures provide useful and supplementary information to investors regarding the operating performance of the Company. It is management's belief that these non-GAAP financial measures would be particularly useful to investors because of the significant changes that have occurred outside of the Company's day-to-day business in accordance with the execution of the Company's strategy. This strategy includes streamlining the Company's existing operations through site and functional consolidations, strategic divestitures and product line closures, expanding the Company's business through significant internal investments, and broadening the Company's product and service offerings through acquisitions of innovative and complementary technologies and solutions. The financial impact of certain elements of these activities, particularly acquisitions, divestitures, and site and functional restructurings, is often large relative to the Company's overall financial performance and can adversely affect the comparability of its operating results and investors' ability to analyze the business from period to period. The Company's Adjusted EBITDA, Organic Revenue Growth and Adjusted Gross Profit Margin are used by management to evaluate operating performance, communicate financial results to the Board of Directors, benchmark results against historical performance and the performance of peers, and evaluate investment opportunities, including acquisitions and divestitures. In addition, Adjusted EBITDA, Organic Revenue Growth and Adjusted Gross Profit Margin are used to determine bonus payments for senior management and employees. The Company has also used in the past, and may use in the future, Adjusted Diluted EPS and Adjusted EBITDA as performance targets for certain performance-based restricted stock units. Accordingly, the Company believes that these non-GAAP financial measures provide greater transparency and insight into management's method of analysis. Non-GAAP financial measures should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material effect on the Company's reported results and, therefore, should not be relied upon as the sole financial measures to evaluate the Company's financial results. The non-GAAP financial measures are meant to supplement, and to be viewed in conjunction with, GAAP financial measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release. Safe Harbor and Forward-Looking Information Certain statements in this release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as 'expect,' 'intend,' 'anticipate,' 'estimate,' 'believe,' 'future,' 'could,' 'should,' 'plan,' 'aim,' and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding anticipated financial performance and financial position, including our financial outlook for the full year 2025 and third quarter of 2025; expectations for new product sales; expectations for our end markets and market position; macroeconomic expectations; our competitive position, including our positioning for long-term growth, capital spending and momentum from new product launches; our acquisition strategy; and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various important factors, including, but not limited to, the following: economic and political conditions and the effects of these conditions on our customers' businesses, capital expenditures and level of business activities; our dependence upon our ability to respond to fluctuations in product demand; our ability to continuously innovate, to introduce new products in a timely manner, and to manage transitions to new product innovations effectively; customer order timing and other similar factors; disruptions or breaches in security of our or our third-party providers' information technology systems; risks associated with our operations in foreign countries; our increased use of outsourcing in foreign countries; risks associated with increased outsourcing of components manufacturing; our exposure to increased tariffs, trade restrictions or taxes on our products; our ability to contain or reduce costs; violations of our intellectual property rights and our ability to protect our intellectual property against infringement by third parties; risk of losing our competitive advantage; our failure to successfully integrate recent and future acquisitions into our business; our ability to attract and retain key personnel; our restructuring and realignment activities; product defects or problems integrating our products with other vendors' products; disruptions in the supply of certain key components and other goods from our suppliers; our failure to accurately forecast component and raw material requirements leading to additional costs and significant delays in shipments; production difficulties and product delivery delays or disruptions; our exposure to extensive medical device regulations, which may impede or hinder the approval, certification or sale of our products and, in some cases, may ultimately result in an inability to obtain approval or certification of certain products or may result in the recall or seizure of previously approved or certified products; potential penalties for violating foreign and U.S. federal and state healthcare laws and regulations; impact of healthcare industry cost containment and healthcare reform measures; changes in governmental regulations related to our business or products; actual or perceived failures to comply with applicable data protection, privacy and security laws, regulations, standards, and other requirements; our failure to implement new information technology systems successfully; changes in foreign currency rates; our failure to realize the full value of our intangible assets; our reliance on original equipment manufacturer customers; the loss of sales, or significant reduction in orders from, any major customers; increasing scrutiny and changing expectations from investors, customers, governments and other stakeholders and third parties with respect to corporate sustainability policies and practices; the effects of climate change and related regulatory responses; our exposure to the credit risk of some of our customers and in weakened markets; being subject to U.S. federal income taxation even though we are a non-U.S. corporation; changes in tax laws and fluctuations in our effective tax rates; any need for additional capital to adequately respond to business challenges or opportunities and repay or refinance our existing indebtedness, which may not be available on acceptable terms or at all; our existing indebtedness limiting our ability to engage in certain activities; volatility in the market price for our common shares; and our failure to maintain appropriate internal controls in the future. Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect the Company's operating results and financial condition are discussed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as updated by our subsequent filings with the Securities and Exchange Commission. Such statements are based on the Company's beliefs and assumptions and on information currently available to the Company. The Company disclaims any obligation to publicly update or revise any such forward-looking statements as a result of developments occurring after the date of this document except as required by law. About Novanta Novanta is a leading global supplier of core technology solutions that give medical, life science, and advanced industrial original equipment manufacturers a competitive advantage. We combine deep proprietary expertise and competencies in precision medicine, precision manufacturing, robotics and automation, and advanced surgery with a proven ability to solve complex technical challenges. This enables Novanta to engineer proprietary technology solutions that deliver extreme precision and performance, tailored to our customers' demanding applications. The driving force behind our growth is the team of innovative professionals who share a commitment to innovation, the Novanta Growth System, and our customers' success. Novanta's common shares are quoted on Nasdaq under the ticker symbol 'NOVT.' NOVANTA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars) (Unaudited) June 27, December 31, 2025 2024 ASSETS Current Assets Cash and cash equivalents $ 109,912 $ 113,989 Accounts receivable, net 161,202 151,026 Inventories 168,065 144,606 Prepaid expenses and other current assets 22,921 24,027 Total current assets 462,100 433,648 Property, plant and equipment, net 118,876 113,135 Operating lease assets 44,107 42,908 Intangible assets, net 203,630 185,844 Goodwill 649,093 584,098 Other assets 33,263 28,878 Total assets $ 1,511,069 $ 1,388,511 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Current portion of long-term debt $ 5,203 $ 4,691 Accounts payable 88,973 76,890 Accrued expenses and other current liabilities 87,762 86,210 Total current liabilities 181,938 167,791 Long-term debt 454,037 411,949 Operating lease liabilities 41,086 40,548 Other long-term liabilities 32,562 22,525 Total liabilities 709,623 642,813 Stockholders' Equity: Total stockholders' equity 801,446 745,698 Total liabilities and stockholders' equity $ 1,511,069 $ 1,388,511 Expand NOVANTA INC. (In thousands of U.S. dollars) (Unaudited) June 27, June 28, 2025 2024 Cash flows from operating activities: Net Income $ 4,497 $ 13,755 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 15,581 14,116 Share-based compensation 7,498 6,231 Deferred income taxes (2,781 ) (4,000 ) Other 1,895 4,869 Changes in assets and liabilities which (used)/provided cash, excluding effects from business acquisitions: Accounts receivable 9,937 5,385 Inventories (14,196 ) (2,805 ) Other operating assets and liabilities (7,359 ) 3,544 Net cash provided by operating activities 15,072 41,095 Cash flows from investing activities: Cash paid for business acquisition, net of working capital adjustments (63,173 ) — Purchases of property, plant and equipment (3,388 ) (4,937 ) Net cash used in investing activities (66,561 ) (4,937 ) Cash flows from financing activities: Borrowings under revolving credit facilities 72,805 — Repayments under term loan and revolving credit facilities (11,298 ) (31,368 ) Payments of debt issuance costs (3,391 ) — Payments of withholding taxes from share-based awards (518 ) (476 ) Other financing activities (2,766 ) (179 ) Net cash provided by (used in) financing activities 54,832 (32,023 ) Effect of exchange rates on cash and cash equivalents 524 813 Increase (decrease) in cash and cash equivalents 3,867 4,948 Cash and cash equivalents, beginning of period 106,045 93,520 Cash and cash equivalents, end of period $ 109,912 $ 98,468 Expand NOVANTA INC. Revenue by Reportable Segment (In thousands of U.S. dollars) (Unaudited) Three Months Ended June 27, June 28, 2025 2024 Revenue Automation Enabling Technologies $ 121,672 $ 116,729 Medical Solutions 119,377 119,135 Total $ 241,049 $ 235,864 Expand NOVANTA INC. Reconciliation of GAAP to Non-GAAP Financial Measures (In thousands of U.S. dollars) (Unaudited) Adjusted Gross Profit and Adjusted Gross Profit Margin by Reportable Segment (Non-GAAP): Three Months Ended June 27, June 28, 2025 2024 Automation Enabling Technologies Gross Profit (GAAP) $ 58,206 $ 54,995 Gross Profit Margin (GAAP) 47.8 % 47.1 % Amortization of intangible assets 1,330 1,566 Adjusted Gross Profit (Non-GAAP) $ 59,536 $ 56,561 Adjusted Gross Profit Margin (Non-GAAP) 48.9 % 48.5 % Medical Solutions Gross Profit (GAAP) $ 49,514 $ 49,337 Gross Profit Margin (GAAP) 41.5 % 41.4 % Amortization of intangible assets 2,890 2,119 Inventory related charges associated with a product line closure 65 2,493 Adjusted Gross Profit (Non-GAAP) $ 52,469 $ 53,949 Adjusted Gross Profit Margin (Non-GAAP) 44.0 % 45.3 % Unallocated Gross Profit (GAAP) $ (974 ) $ (643 ) Adjusted Gross Profit (Non-GAAP) $ (974 ) $ (643 ) Novanta Inc. Gross Profit (GAAP) $ 106,746 $ 103,689 Gross Profit Margin (GAAP) 44.3 % 44.0 % Amortization of intangible assets 4,220 3,685 Inventory related charges associated with a product line closure 65 2,493 Adjusted Gross Profit (Non-GAAP) $ 111,031 $ 109,867 Adjusted Gross Profit Margin (Non-GAAP) 46.1 % 46.6 % Expand NOVANTA INC. Reconciliation of GAAP to Non-GAAP Financial Measures (Amounts in thousands except per share amounts) (Unaudited) Adjusted Operating Income and Adjusted Diluted EPS (Non-GAAP): Three Months Ended June 27, 2025 GAAP results $ 14,911 6.2 % $ 5,789 $ 1,292 22.3 % $ 4,497 $ 0.12 Non-GAAP Adjustments: Amortization of intangible assets 11,091 4.6 % 11,091 Restructuring costs 10,221 4.2 % 10,221 Acquisition and related costs 2,351 1.0 % 2,351 Planning and design phase of the ERP system implementation 1,693 0.7 % 1,693 Costs incurred for insurance recovery claim 324 0.1 % 324 Inventory related charges associated with a product line closure 65 0.1 % 65 Write-off of unamortized deferred financing costs 426 Foreign exchange transaction (gains) losses, net 2,744 Tax effect of non-GAAP adjustments 6,249 Non-GAAP tax adjustments (293 ) Total non-GAAP adjustments 25,745 10.7 % 28,915 5,956 22,959 0.64 Weighted average shares outstanding - Diluted 36,076 Expand NOVANTA INC. Reconciliation of GAAP to Non-GAAP Financial Measures (In thousands of U.S. dollars) (Unaudited) Adjusted EBITDA (Non-GAAP): Three Months Ended June 27, June 28, 2025 2024 Net Income (GAAP) $ 4,497 $ 13,755 Net Income Margin 1.9 % 5.8 % Interest (income) expense, net 5,815 8,266 Income tax provision (benefit) 1,292 3,375 Depreciation and amortization 15,581 14,116 Share-based compensation 7,498 6,231 Restructuring, acquisition and related costs 12,091 2,548 Planning and design phase of the ERP system implementation 1,693 — Costs incurred for insurance recovery claim 324 — Inventory related charges associated with a product line closure 65 2,493 Other, net 3,307 319 Adjusted EBITDA (Non-GAAP) $ 52,163 $ 51,103 Adjusted EBITDA Margin (Non-GAAP) 21.6 % 21.7 % Expand Organic Revenue Growth (Non-GAAP): Three Months Ended June 27, 2025 Compared to Three Months Ended June 28, 2024 Reported Revenue Growth/(Decline) (GAAP) 2.2 % Less: Change attributable to acquisitions 2.3 % Plus: Change due to foreign currency (2.0 )% Organic Revenue Growth/(Decline) (Non-GAAP) (2.1 )% Expand Net Debt (Non-GAAP): June 27, December 31, 2025 2024 Total Debt (GAAP) $ 459,240 $ 416,640 Plus: Deferred financing costs 5,838 2,519 Gross Debt 465,078 419,159 Less: Cash and cash equivalents (109,912 ) (113,989 ) Net Debt (Non-GAAP) $ 355,166 $ 305,170 Expand Non-GAAP Financial Measures The following provides additional explanations for non-GAAP financial measures used by the Company, including explanations for certain non-GAAP adjustments that may not be present in the quarterly disclosures included in the current earnings release but have been used by the Company in the two most recent fiscal years. See the tables above for the calculations of the non-GAAP financial measures used in this earnings release. Organic Revenue Growth The Company defines the term 'organic revenue' as revenue excluding the impact from business acquisitions, divestitures, product line discontinuations, and the effect of foreign currency translation. The Company uses the related term 'organic revenue growth' to refer to the financial performance metric of comparing current period organic revenue with the reported revenue of the corresponding period in the prior year. The Company believes that this non-GAAP financial measure, when taken together with our GAAP financial measures, allows the Company and its investors to better measure the Company's performance and evaluate long-term performance trends. Organic revenue growth also facilitates easier comparisons of the Company's performance with prior and future periods and relative comparisons to its peers. The Company excludes the effect of foreign currency translation from these measures because foreign currency translation is subject to volatility and can obscure underlying business trends. The Company excludes the effect of acquisitions and divestitures because these activities can vary dramatically between reporting periods and between the Company and its peers, which the Company believes makes comparisons of long-term performance trends difficult for management and investors. Organic Revenue Growth is also used as a performance metric to determine bonus payments for senior management and employees. Adjusted Gross Profit and Adjusted Gross Profit Margin The calculation of Adjusted Gross Profit and Adjusted Gross Profit Margin excludes amortization of acquired intangible assets because: (i) the amounts are non-cash; (ii) the Company cannot influence the timing and amount of future expense recognition; and (iii) excluding such expenses provides investors and management better visibility into the underlying trends and performance of our businesses. The Company also excludes inventory related charges associated with product line closures as these costs occurred outside of the Company's day-to-day business for the reasons described above in the introductory paragraphs of the 'Use of Non-GAAP Financial Measures.' Adjusted Operating Income and Adjusted Operating Margin The calculation of Adjusted Operating Income and Adjusted Operating Margin excludes amortization of acquired intangible assets and inventory related charges associated with product line closures for the reasons described above for Adjusted Gross Profit and Adjusted Gross Profit Margin. The Company also excludes restructuring costs, acquisition and related costs, discrete costs related to the planning and design phase of an ERP system implementation, and charges related to an insurance recovery, as the significant charges have occurred outside of the Company's day-to-day business for the reasons described above in the introductory paragraphs of the 'Use of Non-GAAP Financial Measures.' Adjusted Income Before Income Taxes The calculation of Adjusted Income Before Income Taxes excludes amortization of acquired intangible assets, restructuring, acquisition and related costs, discrete costs related to the planning and design phase of an ERP system implementation, inventory-related charges associated with a product line closure, and charges related to an insurance recovery, for Adjusted Operating Income and Adjusted Operating Margin. The Company also excludes foreign exchange transaction gains (losses) as well as the write-off of costs related to our debt refinancing from the calculation of Adjusted Income Before Income Taxes as the Company cannot fully influence the timing and amount of foreign exchange transaction gains (losses). Non-GAAP Income Tax Provision/(Benefit) and Effective Tax Rate Non-GAAP Income Tax Provision/(Benefit) and Effective Tax Rate are calculated based on the Adjusted Income Before Income Taxes by jurisdiction, the applicable tax rates in effect for the respective jurisdictions and the income tax effect of non-GAAP adjustments discussed above. In addition, the Company excludes significant discrete income tax expenses (benefits) related to releases of valuation allowances and uncertain tax positions not related to current year activity, tax audits, certain changes in tax laws, and acquisition related tax planning actions on the Company's effective tax rate. Adjusted Net Income Because Income Before Income Taxes is included in determining Net Income, the calculation of Adjusted Net Income also excludes amortization of acquired intangible assets, restructuring, acquisition and related costs, discrete costs related to the planning and design phase of an ERP system implementation, inventory-related charges associated with a product line closure, and charges related to an insurance recovery, the write-off of costs related to our debt refinancing and foreign exchange transaction gains (losses) for the reasons described above for Adjusted Income Before Income Taxes. In addition, the Company excludes (i) significant discrete income tax expenses (benefits) related to releases of valuation allowances and uncertain tax positions, tax audits or amendments to prior year returns, certain changes in tax laws, and acquisition related tax planning actions on the Company's effective tax rate; and (ii) the income tax effect of non-GAAP adjustments discussed above. Adjusted Diluted EPS Because Net Income is used in the calculation of Diluted EPS, Adjusted Diluted EPS excludes: (i) amortization of acquired intangible assets; (ii) restructuring, acquisition and related costs; (iii) discrete costs related to the planning and design phase of an ERP system implementation; (iv) inventory-related charges associated with a product line closure; (v) charges related to an insurance recovery; (vi) foreign exchange transaction gains (losses); (vii) costs related to our debt refinancing; (viii) significant discrete income tax expenses (benefits) related to releases of valuation allowances, uncertain tax positions, tax audits or amendments to prior year returns, certain changes in tax laws, and acquisition related tax planning actions on the Company's effective tax rate; and (ix) the income tax effect of non-GAAP adjustments for the reasons described above for Adjusted Net Income. Adjusted EBITDA and Adjusted EBITDA Margin The Company defines Adjusted EBITDA as income before deducting interest (income) expense, income tax provision (benefit), depreciation, amortization, non-cash share-based compensation, restructuring, acquisition and related costs, discrete costs related to the planning and design phase of an ERP system implementation, inventory-related charges associated with a product line closure, and charges related to an insurance recovery, and other non-operating (income) expense items, including foreign exchange transaction (gains) losses, costs related to our debt refinancing and net periodic pension costs of the Company's frozen U.K. defined benefit pension plan for the reasons described above in the introductory paragraphs of the 'Use of Non-GAAP Financial Measures.' Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of Revenue. In evaluating Adjusted EBITDA and Adjusted EBITDA Margin, you should be aware that in the future the Company may incur expenses that are the same as, or similar to, some of the adjustments in this presentation. Free Cash Flow and Free Cash Flow as a Percentage of Net Income The Company defines Free Cash Flow as net cash provided by operating activities less cash paid for purchases of property, plant and equipment and plus cash proceeds from sales of property, plant and equipment. Free Cash Flow as a Percentage of Net Income is defined as Free Cash Flow divided by Net Income. Management believes these non-GAAP financial measures are important indicators of the Company's liquidity as well as its ability to service its outstanding debt and to fund future growth. Net Debt The Company defines Net Debt as its total debt as reported on the consolidated balance sheet plus unamortized deferred financing costs and less its cash and cash equivalents as of the end of the period presented. Management uses Net Debt to monitor the Company's outstanding debt obligations that could not be satisfied by its cash and cash equivalents on hand.
Business Wire
01-08-2025
- Business
- Business Wire
Surf Air Mobility to Present at the 14th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech 1x1 Conference
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('Surf Air Mobility'), a leading regional air mobility platform, today announced that CEO and COO, Deanna White and CFO, Oliver Reeves, will host meetings at the 14th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech 1x1 Conference on August 18. If you like to schedule a meeting with Surf Air Mobility, please reach out to your Needham representative or email investors@ About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability. Forward-Looking Statement This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company and reflect the Company's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company's other filings with the SEC, which are accessible on the SEC's website at before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.
Time of India
24-07-2025
- General
- Time of India
State launches initiative to bridge learning gap among students
Chennai: The Tamil Nadu school education department on Thursday launched the 'Thiran' (Targeted Help for Improving Remediation and Academic Nurturing) initiative to bridge learning gaps among students studying in Classes VI to IX. Deputy chief minister Udhayanidhi Stalin released the workbook for remedial coaching under the scheme. According to the plan, teachers will select students who are struggling to read, write, and do basic maths in upper primary and give them focused coaching for six months. The recent state-level learning achievement survey conducted among Classes III, V, and VIII students revealed that students studying in Class VIII lacked reading, writing, and basic maths skills. "In Aug, all students will learn basic reading, writing, and maths prescribed for lower classes. After conducting a survey, students who need remedial coaching will be selected, and they will be given focused coaching. Their progress will be assessed every month," an official said. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai They will undergo remedial coaching from Sept to Feb for six months. The state govt is implementing a literacy and numeracy campaign to improve basic reading, writing, and maths skills for students studying in Classes I to V. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo "High schools and higher secondary schools used to concentrate on board exam students alone. This remedial coaching will improve the quality of education as all students will attain minimum learning levels," another official said. The state council for educational research and training (SCERT) has prepared the workbook for students and a handbook for teachers under this initiative. Udhayanidhi also launched another scheme, TNSPARK (Tamil Nadu School Programme for Artificial Intelligence, Robotics, and Knowledge of Online Tools), to introduce artificial intelligence and coding to students studying in Classes VI to IX. As many as 2,457 newly recruited secondary grade teachers received their appointment orders at the event. School education minister Anbil Mahesh Poyyamozhi, school education secretary B Chandra Mohan, school education director S Kannappan, elementary education director P A Naresh and others participated in the event.
Zawya
24-07-2025
- Business
- Zawya
BITS Pilani Dubai first to launch Bachelor's Degree in Robotics & Industrial Automation across all BITS campuses
Dubai, UAE – BITS Pilani Dubai Campus (BPDC) has announced the launch of its new B.E. programme in Robotics and Industrial Automation, a forward-looking initiative designed to prepare students for careers in the rapidly evolving landscape of intelligent automation. This is the first time this specialized programme is being introduced across any BITS Pilani campus, placing the Dubai campus at the forefront of robotics education within the institution's global network. This launch comes at a time when the global robotics market—valued at USD 62.75 billion in 2019—is projected to nearly triple by 2027. The UAE and wider GCC region are already emerging as leaders in robotics and automation, driven by smart city development, AI innovation, and growing investments in sectors such as logistics, manufacturing, energy, and healthcare. In this dynamic environment, BPDC's new programme aims to equip students with a strong foundation in robotics, industrial automation, and artificial intelligence, combined with hands-on experience and interdisciplinary learning. What makes this programme truly unique is that the courses and curriculum have been jointly developed by the Departments of Mechanical, Electrical, and Computer Science at BITS Pilani Dubai. Equal emphasis has been placed on theory and lab-based learning—twelve courses in the programme include dedicated lab sessions, supported by the institute's advanced facilities. According to Prof. Souri Banerjee, Director of BPDC, 'Robotics is no longer science fiction. It's the future of every industry—from manufacturing and healthcare to logistics, agriculture, and even space exploration. With this programme, we are preparing our students to be leaders in this transformation, empowering them with advanced technical skills and the ability to innovate.' The curriculum includes foundational courses in mechanical, electronic, and computer systems, alongside specialized subjects such as Introduction to Mechanisms and Robotics, AI for Robotics, Robot Dynamics and Control, Embedded System for Robotics, Industrial Automation & Control, Computer Vision and Sensors, Actuators & Signal Conditioning . Students will also gain practical experience with industry-relevant tools like Programmable Logic Controllers (PLC), SCADA systems, STM32 microcontrollers, CAD/CAE platforms, and Human-Machine Interfaces (HMI). Commenting on the new programme, Ms. Nahid Afshan, Head of Admissions at BPDC, said, 'The introduction of this programme reflects our ongoing commitment to offering cutting-edge, industry-relevant education. With the world rapidly embracing automation, this is an exciting opportunity for students to gain a competitive edge in a high-growth field.' Prof. Vincent Shantha Kumar, Associate Professor and Head of the Programme, added: 'It's the right time that we have launched this particular programme. Professionally, Robotics and Industrial Automation is one of the fastest growing engineering fields and there's a huge demand in the field of aerospace, industries, manufacturing industries, energy industries and students will be developing high employability rate with this programme. We have benchmarked this programme with the top universities across the globe offering Robotics education, which makes it truly unique compared to other programmes offered by other universities.' In addition, students can choose from a wide range of electives in cutting-edge areas such as Deep Learning, Autonomous Aerial Vehicles, Machine Learning, Digital Twins in Mechanical Engineering, Cyber Physical Systems and Security, AR/VR in Robotics, and Bio-Inspired Intelligence. This ensures a holistic education aligned with the demands of modern industries. The career prospects for graduates of this programme are both diverse and promising. Students can explore roles such as Robotics Engineer, Mechatronics Engineer, Controls Engineer, Robotics Software Developer, Automation Engineer, and Field Robotics Technician. The programme also opens up opportunities to work with leading companies in the UAE and India such as Siemens, Schneider Electric, Honeywell, Emerson Automation, Weidmuller, FESTO, Digi Robotics, IQ Robotics, Ameca Robotics, DEWA, Emirates Airlines, Techrobotix, and Larsen & Toubro, among others. As an international campus of the prestigious BITS Pilani, BPDC offers students a globally benchmarked education. The vibrant multicultural environment and state-of-the-art infrastructure at BPDC enhance the learning experience. Students may also opt for Minor Programmes in complementary areas like Data Science and Entrepreneurship to broaden their academic and career pathways. Admissions are now open for the B.E. in Robotics and Industrial Automation. High school students with a background in Physics and Mathematics are encouraged to apply. For more information and to apply, please visit:
