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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 03, 2020
Jun. 28, 2019
Jul. 03, 2020
Jun. 28, 2019
Income Statement [Abstract]        
Revenue $ 144,728 $ 155,145 $ 300,196 $ 312,331
Cost of revenue 86,026 89,363 177,049 180,260
Gross profit 58,702 65,782 123,147 132,071
Operating expenses:        
Research and development and engineering 14,440 13,388 29,774 27,385
Selling, general and administrative 24,908 29,204 55,663 61,051
Amortization of purchased intangible assets 3,410 3,772 6,855 7,770
Restructuring, acquisition, and related costs 2,243 4,313 3,904 6,367
Total operating expenses 45,001 50,677 96,196 102,573
Operating income 13,701 15,105 26,951 29,498
Interest income (expense), net (1,701) (2,160) (3,379) (4,204)
Foreign exchange transaction gains (losses), net (282) 27 (28) 68
Other income (expense), net (22) (70) 61 (138)
Income before income taxes 11,696 12,902 23,605 25,224
Income tax provision (benefit) 36 2,522 (2) 2,591
Consolidated net income $ 11,660 [1] $ 10,380 [2] $ 23,607 [1] $ 22,633 [2]
Earnings per common share (Note 5):        
Basic $ 0.33 [1] $ 0.30 [2] $ 0.67 [1] $ 0.65 [2]
Diluted $ 0.33 [1] $ 0.29 [2] $ 0.66 [1] $ 0.64 [2]
Weighted average common shares outstanding—basic 35,137 [1] 34,998 [2] 35,145 [1] 34,981 [2]
Weighted average common shares outstanding—diluted 35,579 [1] 35,503 [2] 35,570 [1] 35,491 [2]
[1] 71 thousand non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 thousand shares of restricted stock issued to the former Laser Quantum non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of July 3, 2020.
[2] 45 thousand non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 thousand shares of restricted stock issued to the former Laser Quantum non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of June 28, 2019.