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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 27, 2019
Sep. 28, 2018
Sep. 27, 2019
Sep. 28, 2018
Income Statement [Abstract]        
Revenue $ 154,066 $ 160,794 $ 466,397 $ 458,159
Cost of revenue 90,012 91,160 270,272 261,137
Gross profit 64,054 69,634 196,125 197,022
Operating expenses:        
Research and development and engineering 13,811 13,204 41,196 37,744
Selling, general and administrative 27,926 29,147 88,977 87,598
Amortization of purchased intangible assets 3,970 3,947 11,740 11,538
Restructuring and acquisition related costs 5,546 2,341 11,913 4,805
Total operating expenses 51,253 48,639 153,826 141,685
Operating income 12,801 20,995 42,299 55,337
Interest income (expense), net (2,153) (2,396) (6,357) (7,315)
Foreign exchange transaction gains (losses), net 387 66 455 (164)
Other income (expense), net (48) (44) (186) (131)
Income before income taxes 10,987 18,621 36,211 47,727
Income tax provision 2,064 3,632 4,655 8,276
Consolidated net income 8,923 [1] 14,989 [2] 31,556 [1] 39,451 [2]
Less: Net income attributable to noncontrolling interest [2]   (435)   (1,986)
Net income attributable to Novanta Inc. $ 8,923 [1] $ 14,554 [2] $ 31,556 [1] $ 37,465 [2]
Earnings per common share attributable to Novanta Inc. (Note 5):        
Basic $ 0.25 [1] $ 0.61 [2] $ 0.90 [1] $ 1.12 [2]
Diluted $ 0.25 [1] $ 0.60 [2] $ 0.89 [1] $ 1.11 [2]
Weighted average common shares outstanding—basic 35,074 [1] 34,899 [2] 35,012 [1] 34,918 [2]
Weighted average common shares outstanding—diluted 35,585 [1] 35,485 [2] 35,523 [1] 35,469 [2]
[1] 47,147 performance-based restricted stock units granted to certain members of the executive management team and 213,219 shares of restricted stock issued to Laser Quantum former non-controlling interest holders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of September 27, 2019.
[2] 53,968 performance-based restricted stock units granted to certain members of the executive management team and 213,219 shares of restricted stock issued to Laser Quantum former non-controlling interest holders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of September 28, 2018.