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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 28, 2019
Jun. 29, 2018
Jun. 28, 2019
Jun. 29, 2018
Income Statement [Abstract]        
Revenue $ 155,145 $ 150,400 $ 312,331 $ 297,365
Cost of revenue 89,363 85,171 180,260 169,977
Gross profit 65,782 65,229 132,071 127,388
Operating expenses:        
Research and development and engineering 13,388 12,551 27,385 24,540
Selling, general and administrative 29,204 29,231 61,051 58,451
Amortization of purchased intangible assets 3,772 3,893 7,770 7,591
Restructuring and acquisition related costs 4,313 2,439 6,367 2,464
Total operating expenses 50,677 48,114 102,573 93,046
Operating income 15,105 17,115 29,498 34,342
Interest income (expense), net (2,160) (2,561) (4,204) (4,919)
Foreign exchange transaction gains (losses), net 27 177 68 (230)
Other income (expense), net (70) (46) (138) (87)
Income before income taxes 12,902 14,685 25,224 29,106
Income tax provision 2,522 3,060 2,591 4,644
Consolidated net income 10,380 [1] 11,625 [2] 22,633 [1] 24,462 [2]
Less: Net income attributable to noncontrolling interest [2]   (625)   (1,551)
Net income attributable to Novanta Inc. $ 10,380 [1] $ 11,000 [2] $ 22,633 [1] $ 22,911 [2]
Earnings per common share attributable to Novanta Inc. (Note 5):        
Basic $ 0.30 [1] $ 0.32 [2] $ 0.65 [1] $ 0.51 [2]
Diluted $ 0.29 [1] $ 0.32 [2] $ 0.64 [1] $ 0.50 [2]
Weighted average common shares outstanding—basic 34,998 [1] 34,949 [2] 34,981 [1] 34,919 [2]
Weighted average common shares outstanding—diluted 35,503 [1] 35,474 [2] 35,491 [1] 35,451 [2]
[1] 45,252 non-GAAP EPS performance-based 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 June 28, 2019.
[2] 53,968 non-GAAP EPS performance-based 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 June 29, 2018.