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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Revenue $ 626,099 $ 614,337 $ 521,290
Cost of revenue 364,014 352,809 300,759
Gross profit 262,085 261,528 220,531
Operating expenses:      
Research and development and engineering 55,965 51,024 41,673
Selling, general and administrative 118,407 115,900 101,654
Amortization of purchased intangible assets 15,857 15,550 12,096
Restructuring and acquisition related costs 16,574 8,041 7,542
Total operating expenses 206,803 190,515 162,965
Operating income 55,282 71,013 57,566
Interest income (expense), net (8,493) (9,814) (7,165)
Foreign exchange transaction gains (losses), net (780) 147 (447)
Other income (expense), net (243) (44) (229)
Gain on acquisition of business     26,409
Income before income taxes 45,766 61,302 76,134
Income tax provision 4,993 10,207 13,827
Consolidated net income 40,773 [1] 51,095 [2] 62,307 [3]
Less: Net income attributable to noncontrolling interest   (1,986) [2] (2,256) [3]
Net income attributable to Novanta Inc. $ 40,773 [1] $ 49,109 [2] $ 60,051 [3]
Earnings per common share attributable to Novanta Inc. (Note 9):      
Basic $ 1.16 [1] $ 1.46 [2] $ 1.14 [3]
Diluted $ 1.15 [1] $ 1.43 [2] $ 1.13 [3]
Weighted average common shares outstanding—basic 35,030 [1] 34,913 [2] 34,817 [3]
Weighted average common shares outstanding—diluted 35,546 [1] 35,473 [2] 35,280 [3]
[1] For the year ended December 31, 2019, 46 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.
[2] For the year ended December 31, 2018, 54 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2018.
[3] For the year ended December 31, 2017, 59 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2017.