UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 8, 2012
GSI GROUP INC.
(Exact name of registrant as specified in its charter)
New Brunswick, Canada | 001-35083 | 98-0110412 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
125 Middlesex Turnpike Bedford, Massachusetts |
01730 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code (781) 266-5700
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure
As disclosed in GSI Group Inc. (the Company) 2012 second quarter Form 10-Q, beginning in the second quarter ended June 29, 2012, the Company committed to a plan for the sale of the Semiconductor Systems and Laser Systems businesses. As a result, these businesses have been reported as discontinued operations in the consolidated financial statements. Therefore, the Company reports its continuing operations under the Laser Products and Precision Motion and Technologies segments.
The Company is providing, in Exhibit 99.1 to this Current Report on Form 8-K, unaudited historical reportable segment data for each quarter of 2011 and the first two quarters of 2012, to reflect the change in reportable segments. The information contained in this Current Report, including Exhibit 99.1, shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
This information is provided as supplemental financial information that may be of interest to the Companys shareholders.
Item 9.01. Financial Statements and Exhibits
(d) | Exhibits: 99.1 Sales and Gross Profit by Reportable Segment for Interim Periods in 2011 and 2012 (Unaudited) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GSI Group Inc. | ||||
(Registrant) | ||||
Date: August 8, 2012 | By: | /s/ Robert J. Buckley | ||
| ||||
Robert J. Buckley | ||||
Chief Financial Officer |
Exhibit 99.1
GSI GROUP INC.
Sales and Gross Profit by Reportable Segment
(UNAUDITED)
The following table sets forth the external sales, gross profit and gross profit margin for each of our reportable segments for the periods noted (dollars in thousands):
Three Months Ended | Twelve Months Ended |
Three Months Ended | Six Months Ended |
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April 1, 2011 |
July 1, 2011 |
September 30, 2011 |
December 31, 2011 |
December 31, 2011 |
March 30, 2012 |
June 29, 2012 |
June 29, 2012 |
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Sales: |
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Laser Products |
$ | 26,875 | $ | 29,971 | $ | 29,763 | $ | 26,305 | $ | 112,914 | $ | 25,715 | $ | 26,299 | $ | 52,014 | ||||||||||||||||
Precision Motion and Technologies |
50,628 | 52,638 | 48,941 | 39,175 | 191,382 | 39,471 | 44,080 | 83,551 | ||||||||||||||||||||||||
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Total |
$ | 77,503 | $ | 82,609 | $ | 78,704 | $ | 65,480 | $ | 304,296 | $ | 65,186 | $ | 70,379 | $ | 135,565 | ||||||||||||||||
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Gross profit: |
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Laser Products |
$ | 10,153 | $ | 12,332 | $ | 11,719 | $ | 9,744 | $ | 43,948 | $ | 9,264 | $ | 8,612 | $ | 17,876 | ||||||||||||||||
Precision Motion and Technologies |
24,027 | 25,198 | 23,374 | 18,543 | 91,142 | 18,599 | 22,290 | 40,889 | ||||||||||||||||||||||||
Corporate (1) |
(438 | ) | (530 | ) | (508 | ) | (514 | ) | (1,990 | ) | (182 | ) | (235 | ) | (417 | ) | ||||||||||||||||
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Total |
$ | 33,742 | $ | 37,000 | $ | 34,585 | $ | 27,773 | $ | 133,100 | $ | 27,681 | $ | 30,667 | $ | 58,348 | ||||||||||||||||
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Gross profit percentages: |
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Laser Products |
37.8 | % | 41.1 | % | 39.4 | % | 37.0 | % | 38.9 | % | 36.0 | % | 32.7 | % | 34.4 | % | ||||||||||||||||
Precision Motion and Technologies |
47.5 | % | 47.9 | % | 47.8 | % | 47.3 | % | 47.6 | % | 47.1 | % | 50.6 | % | 48.9 | % | ||||||||||||||||
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Total |
43.5 | % | 44.8 | % | 43.9 | % | 42.4 | % | 43.7 | % | 42.5 | % | 43.6 | % | 43.0 | % | ||||||||||||||||
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(1) | Corporate costs primarily represent unallocated overhead related to discontinued operations. |