XML 38 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Earnings (Loss) per Common Share (Tables)
 9 Months Ended
Sep. 29, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings (Loss) per Common Share

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

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 29,

 

 

September 30,

 

 

September 29,

 

 

September 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerators:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

8,366

 

 

$

7,470

 

 

$

52,630

 

 

$

14,247

 

Less: Net income attributable to noncontrolling interest

 

(834

)

 

 

—

 

 

 

(1,444

)

 

 

—

 

Net income attributable to Novanta Inc.

 

7,532

 

 

 

7,470

 

 

 

51,186

 

 

 

14,247

 

Less: Adjustment of redeemable noncontrolling interest to estimated redemption value (see Note 14)

 

(7,585

)

 

 

—

 

 

 

(11,303

)

 

 

—

 

Net income (loss) attributable to Novanta Inc. after adjustment of redeemable noncontrolling interest to estimated redemption value

$

(53

)

 

$

7,470

 

 

$

39,883

 

 

$

14,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominators:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding— basic

 

34,833

 

 

 

34,677

 

 

 

34,809

 

 

 

34,689

 

Dilutive potential common shares (1)

 

—

 

 

 

251

 

 

 

426

 

 

 

200

 

Weighted average common shares outstanding— diluted

 

34,833

 

 

 

34,928

 

 

 

35,235

 

 

 

34,889

 

Antidilutive common shares excluded from above

 

—

 

 

 

144

 

 

 

—

 

 

 

112

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings (Loss) per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share attributable to Novanta Inc.

$

(0.00

)

 

$

0.22

 

 

$

1.15

 

 

$

0.41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings (Loss) per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share attributable to Novanta Inc.

$

(0.00

)

 

$

0.21

 

 

$

1.13

 

 

$

0.41

 

 

(1)

Due to the Company’s net loss position after adjustment of redeemable noncontrolling interest to estimated redemption value for the three months ended September 29, 2017, all potentially dilutive shares are excluded from the calculation of the denominator as their effect would have been anti-dilutive.