Earnings per Common Share (Tables)

3 Months Ended

Mar. 29, 2019

Computation of Basic and Diluted Earnings per Common Share

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

	Three Months Ended
	March 29,		March 30,
	2019 ⁽¹⁾		2018 ⁽²⁾
Numerators:
Consolidated net income	$	12,253	$	12,837
Less: Net income attributable to noncontrolling interest		—		(926	)
Net income attributable to Novanta Inc.		12,253		11,911
Redeemable noncontrolling interest redemption value adjustment		—		(5,399	)
Net income attributable to Novanta Inc. after adjustment for redeemable noncontrolling interest redemption value	$	12,253	$	6,512

Denominators:
Weighted average common shares outstanding— basic		34,958		34,887
Dilutive potential common shares		516		541
Weighted average common shares outstanding— diluted		35,474		35,428
Antidilutive common shares excluded from above		58		12

Earnings per Common Share Attributable to Novanta Inc.:
Basic	$	0.35	$	0.19
Diluted	$	0.35	$	0.18

(1)

45,252 non-GAAP EPS performance restricted stock units granted to certain members of the executive management team and 213,219 shares of restricted stock issued to Laser Quantum former non-controlling interest holders are considered contingently issuable shares and are excluded from the calculation of the denominator as the contingent conditions had not been met as of March 29, 2019.

(2)

53,968 non-GAAP EPS performance restricted stock units granted to certain members of the executive management team were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of March 30, 2018.