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Earnings (Loss) per Common Share | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Earnings (Loss) per Common Share | 8. Earnings (Loss) per Common Share Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the year. For diluted earnings (loss) per common share, the denominator also includes the dilutive effect of outstanding restricted stock units determined using the treasury stock method. Dilutive effects of contingently issuable shares are included in the weighted average dilutive share calculation when the contingencies have been resolved. For years in which net losses are generated, the dilutive potential common shares are excluded from the calculation of diluted earnings per share as the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
| Year Ended December 31, |
| 2015 |  |  | 2014 |  |  | 2013 |
Numerators: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 35,628 |  |  | $ | (16,909 | ) |  | $ | 9,977 |
Consolidated loss from discontinued operations |  | (13 | ) |  |  | (7,333 | ) |  |  | (2,646 | )
Less: income attributable to noncontrolling interest |  | — |  |  |  | (10 | ) |  |  | (22 | )
Loss from discontinued operations attributable to GSI Group Inc. |  | (13 | ) |  |  | (7,343 | ) |  |  | (2,668 | )
Net income (loss) attributable to GSI Group Inc. | $ | 35,615 |  |  | $ | (24,252 | ) |  | $ | 7,309 |
Denominators: |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding— basic |  | 34,579 |  |  |  | 34,352 |  |  |  | 34,073 |
Dilutive potential common shares (1) |  | 248 |  |  |  | — |  |  |  | 323 |
Weighted average common shares outstanding— diluted |  | 34,827 |  |  |  | 34,352 |  |  |  | 34,396 |
Antidilutive common shares excluded from above |  | — |  |  |  | 439 |  |  |  | 246 |
Basic Earnings (Loss) per Common Share: |  |  |  |  |  |  |  |  |  |  |
From continuing operations | $ | 1.03 |  |  | $ | (0.49 | ) |  | $ | 0.29 |
From discontinued operations | $ | (0.00 | ) |  | $ | (0.21 | ) |  | $ | (0.08 | )
Basic earnings (loss) per share attributable to GSI Group Inc. | $ | 1.03 |  |  | $ | (0.70 | ) |  | $ | 0.21 |
Diluted Earnings (Loss) per Common Share: |  |  |  |  |  |  |  |  |  |  |
From continuing operations | $ | 1.02 |  |  | $ | (0.49 | ) |  | $ | 0.29 |
From discontinued operations | $ | (0.00 | ) |  | $ | (0.21 | ) |  | $ | (0.08 | )
Diluted earnings (loss) per share attributable to GSI Group Inc. | $ | 1.02 |  |  | $ | (0.70 | ) |  | $ | 0.21 |
| (1) | Due to the Company’s net loss position for the year ended December 31, 2014, all potentially dilutive shares were excluded as their effect would have been anti-dilutive.
Common Stock Repurchases In October 2013, the Company’s Board of Directors authorized a share repurchase plan under which the Company may repurchase outstanding shares of the Company’s common stock up to an aggregate amount of $10.0 million. The shares may be repurchased from time to time, at the Company’s discretion, based on ongoing assessment of the capital needs of the business, the market price of the Company’s common stock, and general market conditions. Shares may also be repurchased through an accelerated stock purchase agreement, on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. Repurchases may be made under certain SEC regulations, which would permit common stock to be purchased when the Company would otherwise be prohibited from doing so under insider trading laws. The share repurchase plan does not obligate the Company to acquire any particular amount of common stock. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. The Company expects to fund the share repurchase through cash on hand and future cash flow from operations. During 2015, the Company repurchased 122 thousand shares in the open market for an aggregate purchase price of $1.6 million at an average price of $13.29 per share. As of December 31, 2015, the Company had repurchased an aggregate of 172 thousand shares for an aggregate purchase price of $2.2 million at an average price of $12.48 per share.

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