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Supplementary Information (Tables)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

The following tables reflect the Company’s unaudited condensed consolidated statements of operations (in thousands except per share data):

 

 

 

Three Months Ended

 

 

December 31,

 

 

October 2,

 

 

July 3,

 

 

April 3,

 

 

2015

 

 

2015

 

 

2015

 

 

2015

 

Revenue

$

90,219

 

 

$

92,271

 

 

$

96,494

 

 

$

94,614

 

Cost of revenue

 

53,590

 

 

 

52,361

 

 

 

55,149

 

 

 

54,608

 

Gross profit

 

36,629

 

 

 

39,910

 

 

 

41,345

 

 

 

40,006

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development and engineering

 

7,295

 

 

 

7,693

 

 

 

7,840

 

 

 

8,215

 

Selling, general and administrative

 

19,080

 

 

 

19,979

 

 

 

20,922

 

 

 

22,068

 

Amortization of purchased intangible assets

 

2,018

 

 

 

1,852

 

 

 

1,852

 

 

 

1,889

 

Restructuring, acquisition and divestiture related costs

 

4,022

 

 

 

1,379

 

 

 

416

 

 

 

2,437

 

Total operating expenses

 

32,415

 

 

 

30,903

 

 

 

31,030

 

 

 

34,609

 

Operating income from continuing operations

 

4,214

 

 

 

9,007

 

 

 

10,315

 

 

 

5,397

 

Interest income (expense), foreign exchange transaction gains (losses), other income (expense), net and gain on disposal of business

 

1,721

 

 

 

13

 

 

 

15,506

 

 

 

(151

)

Income from continuing operations before income taxes

 

5,935

 

 

 

9,020

 

 

 

25,821

 

 

 

5,246

 

Income tax provision (benefit)

 

(168

)

 

 

2,452

 

 

 

6,310

 

 

 

1,800

 

Income from continuing operations

 

6,103

 

 

 

6,568

 

 

 

19,511

 

 

 

3,446

 

Loss from discontinued operations, net of tax

 

—

 

 

 

—

 

 

 

(13

)

 

 

—

 

Consolidated net income

$

6,103

 

 

$

6,568

 

 

$

19,498

 

 

$

3,446

 

Earnings per common share from continuing operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.18

 

 

$

0.19

 

 

$

0.56

 

 

$

0.10

 

Diluted

$

0.18

 

 

$

0.19

 

 

$

0.56

 

 

$

0.10

 

Loss per common share from discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

—

 

 

$

—

 

 

$

(0.00

)

 

$

—

 

Diluted

$

—

 

 

$

—

 

 

$

(0.00

)

 

$

—

 

Earnings per common share attributable to GSI Group Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.18

 

 

$

0.19

 

 

$

0.56

 

 

$

0.10

 

Diluted

$

0.18

 

 

$

0.19

 

 

$

0.56

 

 

$

0.10

 

 

 

 

 

 

Three Months Ended

 

 

December 31,

 

 

September 26,

 

 

June 27,

 

 

March 28,

 

 

2014

 

 

2014

 

 

2014

 

 

2014

 

Revenue

$

94,012

 

 

$

94,656

 

 

$

96,905

 

 

$

79,133

 

Cost of revenue

 

54,284

 

 

 

54,973

 

 

 

58,254

 

 

 

47,028

 

Gross profit

 

39,728

 

 

 

39,683

 

 

 

38,651

 

 

 

32,105

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development and engineering

 

7,837

 

 

 

7,735

 

 

 

7,525

 

 

 

5,857

 

Selling, general and administrative

 

21,840

 

 

 

21,512

 

 

 

21,410

 

 

 

19,618

 

Amortization of purchased intangible assets

 

2,799

 

 

 

2,843

 

 

 

2,876

 

 

 

1,744

 

Restructuring, acquisition and divestiture related costs

 

(14

)

 

 

771

 

 

 

360

 

 

 

818

 

Impairment of goodwill and intangible assets

 

41,442

 

 

 

—

 

 

 

—

 

 

 

—

 

Total operating expenses

 

73,904

 

 

 

32,861

 

 

 

32,171

 

 

 

28,037

 

Operating income (loss) from continuing operations

 

(34,176

)

 

 

6,822

 

 

 

6,480

 

 

 

4,068

 

Interest income (expense), foreign exchange transaction gains (losses) and other income (expense), net

 

(127

)

 

 

310

 

 

 

(1,017

)

 

 

(275

)

Income (loss) from continuing operations before income taxes

 

(34,303

)

 

 

7,132

 

 

 

5,463

 

 

 

3,793

 

Income tax provision (benefit)

 

(6,013

)

 

 

2,013

 

 

 

2,057

 

 

 

937

 

Income (loss) from continuing operations

 

(28,290

)

 

 

5,119

 

 

 

3,406

 

 

 

2,856

 

Loss from discontinued operations, net of tax

 

(790

)

 

 

(273

)

 

 

(2,678

)

 

 

(1,866

)

Loss on disposal of discontinued operations, net of tax

 

(1,405

)

 

 

(321

)

 

 

—

 

 

 

—

 

Consolidated net income (loss)

 

(30,485

)

 

 

4,525

 

 

 

728

 

 

 

990

 

Less: Net income attributable to noncontrolling interest

 

—

 

 

 

—

 

 

 

(3

)

 

 

(7

)

Net income (loss) attributable to GSI Group Inc.

$

(30,485

)

 

$

4,525

 

 

$

725

 

 

$

983

 

Earnings (loss) per common share from continuing operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(0.82

)

 

$

0.15

 

 

$

0.10

 

 

$

0.08

 

Diluted

$

(0.82

)

 

$

0.15

 

 

$

0.10

 

 

$

0.08

 

Loss per common share from discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(0.06

)

 

$

(0.02

)

 

$

(0.08

)

 

$

(0.05

)

Diluted

$

(0.06

)

 

$

(0.02

)

 

$

(0.08

)

 

$

(0.05

)

Earnings (loss) per common share attributable to GSI Group Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(0.88

)

 

$

0.13

 

 

$

0.02

 

 

$

0.03

 

Diluted

$

(0.88

)

 

$

0.13

 

 

$

0.02

 

 

$

0.03