XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 29, 2019
Mar. 30, 2018
Income Statement [Abstract]    
Revenue $ 157,186 $ 146,965
Cost of revenue 90,897 84,806
Gross profit 66,289 62,159
Operating expenses:    
Research and development and engineering 13,997 11,989
Selling, general and administrative 31,847 29,220
Amortization of purchased intangible assets 3,998 3,698
Restructuring and acquisition related costs 2,054 25
Total operating expenses 51,896 44,932
Operating income 14,393 17,227
Interest income (expense), net (2,044) (2,358)
Foreign exchange transaction gains (losses), net 41 (407)
Other income (expense), net (68) (41)
Income before income taxes 12,322 14,421
Income tax provision 69 1,584
Consolidated net income 12,253 [1] 12,837 [2]
Less: Net income attributable to noncontrolling interest [2]   (926)
Net income attributable to Novanta Inc. $ 12,253 [1] $ 11,911 [2]
Earnings per common share attributable to Novanta Inc. (Note 4):    
Basic $ 0.35 [1] $ 0.19 [2]
Diluted $ 0.35 [1] $ 0.18 [2]
Weighted average common shares outstanding—basic 34,958 [1] 34,887 [2]
Weighted average common shares outstanding—diluted 35,474 [1] 35,428 [2]
[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.