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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Revenue $ 590,623 $ 626,099 $ 614,337
Cost of revenue 346,106 364,014 352,809
Gross profit 244,517 262,085 261,528
Operating expenses:      
Research and development and engineering 60,996 55,965 51,024
Selling, general and administrative 109,853 118,407 115,900
Amortization of purchased intangible assets 13,970 15,857 15,550
Restructuring and acquisition related costs 3,810 16,574 8,041
Total operating expenses 188,629 206,803 190,515
Operating income 55,888 55,282 71,013
Interest income (expense), net (6,564) (8,493) (9,814)
Foreign exchange transaction gains (losses), net (942) (780) 147
Other income (expense), net 21 (243) (44)
Income before income taxes 48,403 45,766 61,302
Income tax provision 3,882 4,993 10,207
Consolidated net income 44,521 [1] 40,773 [2] 51,095 [3]
Less: Net income attributable to noncontrolling interest [3]     (1,986)
Net income attributable to Novanta Inc. $ 44,521 [1] $ 40,773 [2] $ 49,109 [3]
Earnings per common share attributable to Novanta Inc. (Note 9):      
Basic $ 1.27 [1] $ 1.16 [2] $ 1.46 [3]
Diluted $ 1.25 [1] $ 1.15 [2] $ 1.43 [3]
Weighted average common shares outstanding—basic 35,144 [1] 35,030 [2] 34,913 [3]
Weighted average common shares outstanding—diluted 35,654 [1] 35,546 [2] 35,473 [3]
[1] For the year ended December 31, 2020, 45 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, 2020.
[2] 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 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, 2019.
[3] 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.