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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Oct. 02, 2020
Sep. 27, 2019
Oct. 02, 2020
Sep. 27, 2019
Income Statement [Abstract]        
Revenue $ 142,929 $ 154,066 $ 443,125 $ 466,397
Cost of revenue 83,824 90,012 260,873 270,272
Gross profit 59,105 64,054 182,252 196,125
Operating expenses:        
Research and development and engineering 15,231 13,811 45,005 41,196
Selling, general and administrative 26,788 27,926 82,451 88,977
Amortization of purchased intangible assets 3,533 3,970 10,388 11,740
Restructuring, acquisition, and related costs 1,687 5,546 5,591 11,913
Total operating expenses 47,239 51,253 143,435 153,826
Operating income 11,866 12,801 38,817 42,299
Interest income (expense), net (1,698) (2,153) (5,077) (6,357)
Foreign exchange transaction gains (losses), net (136) 387 (164) 455
Other income (expense), net (14) (48) 47 (186)
Income before income taxes 10,018 10,987 33,623 36,211
Income tax provision 1,760 2,064 1,758 4,655
Consolidated net income $ 8,258 [1] $ 8,923 [2] $ 31,865 [1] $ 31,556 [2]
Earnings per common share (Note 5):        
Basic $ 0.23 [1] $ 0.25 [2] $ 0.91 [1] $ 0.90 [2]
Diluted $ 0.23 [1] $ 0.25 [2] $ 0.89 [1] $ 0.89 [2]
Weighted average common shares outstanding—basic 35,142 [1] 35,074 [2] 35,144 [1] 35,012 [2]
Weighted average common shares outstanding—diluted 35,688 [1] 35,585 [2] 35,609 [1] 35,523 [2]
[1] 73 thousand non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 thousand shares of restricted stock issued to the former Laser Quantum 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 October 2, 2020.
[2] 47 thousand non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 thousand shares of restricted stock issued to the former Laser Quantum 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 September 27, 2019.