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Selected Consolidated Financial Data (Tables)
12 Months Ended
Dec. 31, 2013
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,
2013
    September 27,
2013
    June 28,
2013
    March 29,
2013
 

Sales

   $ 87,707      $ 85,484      $ 85,307      $ 83,114   

Cost of goods sold

     51,711        49,693        50,808        49,951   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     35,996        35,791        34,499        33,163   

Operating expenses

     29,319        30,073        30,152        32,214   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations

     6,677        5,718        4,347        949   

Interest income (expense) and other income (expense), net

     (847     (1,936     (1,048     670   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations before income taxes

     5,830        3,782        3,299        1,619   

Income tax provision

     1,463        1,610        2,457        150   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations

     4,367        2,172        842        1,469   

Income (loss) from discontinued operations, net of tax.

     (79     (113     (1,384     649   

Loss on disposal of discontinued operations, net of tax

     —          (281     (311     —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated net income (loss)

     4,288        1,778        (853     2,118   

Net (income) loss attributable to noncontrolling interest

     20        12        (18     (36
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to GSI Group Inc

   $ 4,308      $ 1,790      $ (871   $ 2,082   
  

 

 

   

 

 

   

 

 

   

 

 

 

Earnings from continuing operations per common share:

        

Basic

   $ 0.13      $ 0.06      $ 0.02      $ 0.04   

Diluted

   $ 0.13      $ 0.06      $ 0.02      $ 0.04   

Earnings (loss) from discontinued operations per common share:

        

Basic

   $ —        $ (0.01   $ (0.05   $ 0.02   

Diluted

   $ —        $ (0.01   $ (0.05   $ 0.02   

Net income (loss) per common share:

        

Basic

   $ 0.13      $ 0.05      $ (0.03   $ 0.06   

Diluted

   $ 0.13      $ 0.05      $ (0.03   $ 0.06   

 

     Three Months Ended  
     December 31,
2012
    September 28,
2012
    June 29,
2012
    March 30,
2012
 

Sales

   $ 66,413      $ 69,520      $ 70,379      $ 65,186   

Cost of goods sold

     39,138        40,667        39,712        37,505   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     27,275        28,853        30,667        27,681   

Operating expenses

     23,978        25,061        25,570        24,860   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations

     3,297        3,792        5,097        2,821   

Interest income (expense) and other income (expense), net

     (772     (1,174     (13     (1,514
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations before income taxes

     2,525        2,618        5,084        1,307   

Income tax provision (benefit)

     (12,350     563        617        230   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations

     14,875        2,055        4,467        1,077   

Income (loss) from discontinued operations, net of tax

     (1,317     (4,570     414        322   

Gain on disposal of discontinued operations, net of tax.

     2,255        —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated net income (loss)

     15,813        (2,515     4,881        1,399   

Net (income) loss attributable to noncontrolling interest

     5        (19     (8     (18
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to GSI Group Inc

   $ 15,818      $ (2,534   $ 4,873      $ 1,381   
  

 

 

   

 

 

   

 

 

   

 

 

 

Earnings from continuing operations per common share:

        

Basic

   $ 0.44      $ 0.06      $ 0.13      $ 0.03   

Diluted

   $ 0.44      $ 0.06      $ 0.13      $ 0.03   

Earnings (loss) from discontinued operations per common share:

        

Basic

   $ 0.03      $ (0.13   $ 0.01      $ 0.01   

Diluted

   $ 0.03      $ (0.13   $ 0.01      $ 0.01   

Net income (loss) per common share:

        

Basic

   $ 0.47      $ (0.07   $ 0.14      $ 0.04   

Diluted

   $ 0.47      $ (0.07   $ 0.14      $ 0.04