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Earnings per Share
 6 Months Ended
Jun. 28, 2013
Earnings per Share

5. Earnings per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. For diluted earnings per common share, the denominator also includes the dilutive effect of outstanding restricted stock units determined using the treasury stock method. For periods in which net losses are generated, the dilutive potential common shares are excluded from the calculation of diluted earnings per share as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

 

     Three Months Ended     Six Months Ended  
     June 28,
2013		     June 29,
2012		     June 28,
2013		     June 29,
2012		  

Numerators:

         

Consolidated net income

    $ 842      $ 4,467      $ 2,311      $ 5,544   

Less: Income attributable to noncontrolling interest

      (18 )      (8 )      (54 )      (26 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Income from continuing operations

      824        4,459        2,257        5,518   

Income (loss) from discontinued operations

      (1,695 )      414        (1,046 )      736   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net (loss) income attributable to GSI Group Inc.

    $ (871 )    $ 4,873      $ 1,211      $ 6,254   
  

 

 

    

 

 

    

 

 

    

 

 

  

Denominators:

         

Weighted average common shares outstanding- basic

      34,088        33,782        34,036        33,731   

Dilutive potential common shares (1)

      197        171        243        184   
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average common shares outstanding - diluted

      34,285        33,953        34,279        33,915   
  

 

 

    

 

 

    

 

 

    

 

 

  

Antidilutive common shares excluded from above

      570        —          472        —     

Basic Earnings (Loss) per Common Share:

         

From continuing operations

    $ 0.02      $ 0.13      $ 0.07      $ 0.16   

From discontinued operations

    $ (0.05 )    $ 0.01      $ (0.03 )    $ 0.03   

Basic earnings (loss) per share attributable to GSI Group Inc.

    $ (0.03 )    $ 0.14      $ 0.04      $ 0.19   

Diluted Earnings (Loss) per Common Share:

         

From continuing operations

    $ 0.02      $ 0.13      $ 0.07      $ 0.16   

From discontinued operations

    $ (0.05 )    $ 0.01      $ (0.03 )    $ 0.02   

Diluted earnings (loss) per share attributable to GSI Group Inc.

    $ (0.03 )    $ 0.14      $ 0.04      $ 0.18   

 

(1) 

Due to the Company’s net loss attributable to GSI Group Inc. for the three months ended June 28, 2013, all potentially dilutive shares were excluded as their effect would have been anti-dilutive.