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Supplementary Information | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
Supplementary Information | Supplementary Information (Unaudited) The Company’s interim financial statements are prepared on a quarterly basis ending on the Friday closest to the end of the calendar quarter, with the exception of the fourth quarter which always ends on December 31. On April 15, 2015, the Company completed the sale of certain assets and liabilities of the JK Lasers business for $29.6 million in cash, net of the final working capital adjustments and transaction costs, and recorded a pre-tax gain on sale of $19.6 million. In December 2014, the Company determined that an impairment test of the NDS goodwill and intangible assets was required, resulting in an impairment charge of $41.4 million in operating expenses. On March 14, 2014, the Company acquired JADAK and started to include the operating results of JADAK in the consolidated financial statements as of the acquisition date. In July 2014, the Company completed the sale of certain assets and liabilities of the Scientific Lasers business for $6.5 million in cash, net of working capital adjustments, and recorded a $1.7 million loss on sale. The following tables reflect the Company’s unaudited condensed consolidated statements of operations (in thousands except per share data):
| Three Months Ended |
| December 31, |  |  | October 2, |  |  | July 3, |  |  | April 3, |
| 2015 |  |  | 2015 |  |  | 2015 |  |  | 2015 |
Revenue | $ | 90,219 |  |  | $ | 92,271 |  |  | $ | 96,494 |  |  | $ | 94,614 |
Cost of revenue |  | 53,590 |  |  |  | 52,361 |  |  |  | 55,149 |  |  |  | 54,608 |
Gross profit |  | 36,629 |  |  |  | 39,910 |  |  |  | 41,345 |  |  |  | 40,006 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development and engineering |  | 7,295 |  |  |  | 7,693 |  |  |  | 7,840 |  |  |  | 8,215 |
Selling, general and administrative |  | 19,080 |  |  |  | 19,979 |  |  |  | 20,922 |  |  |  | 22,068 |
Amortization of purchased intangible assets |  | 2,018 |  |  |  | 1,852 |  |  |  | 1,852 |  |  |  | 1,889 |
Restructuring, acquisition and divestiture related costs |  | 4,022 |  |  |  | 1,379 |  |  |  | 416 |  |  |  | 2,437 |
Total operating expenses |  | 32,415 |  |  |  | 30,903 |  |  |  | 31,030 |  |  |  | 34,609 |
Operating income from continuing operations |  | 4,214 |  |  |  | 9,007 |  |  |  | 10,315 |  |  |  | 5,397 |
Interest income (expense), foreign exchange transaction gains (losses), other income (expense), net and gain on disposal of business |  | 1,721 |  |  |  | 13 |  |  |  | 15,506 |  |  |  | (151 | )
Income from continuing operations before income taxes |  | 5,935 |  |  |  | 9,020 |  |  |  | 25,821 |  |  |  | 5,246 |
Income tax provision (benefit) |  | (168 | ) |  |  | 2,452 |  |  |  | 6,310 |  |  |  | 1,800 |
Income from continuing operations |  | 6,103 |  |  |  | 6,568 |  |  |  | 19,511 |  |  |  | 3,446 |
Loss from discontinued operations, net of tax |  | — |  |  |  | — |  |  |  | (13 | ) |  |  | — |
Consolidated net income | $ | 6,103 |  |  | $ | 6,568 |  |  | $ | 19,498 |  |  | $ | 3,446 |
Earnings per common share from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.18 |  |  | $ | 0.19 |  |  | $ | 0.56 |  |  | $ | 0.10 |
Diluted | $ | 0.18 |  |  | $ | 0.19 |  |  | $ | 0.56 |  |  | $ | 0.10 |
Loss per common share from discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | — |  |  | $ | — |  |  | $ | (0.00 | ) |  | $ | — |
Diluted | $ | — |  |  | $ | — |  |  | $ | (0.00 | ) |  | $ | — |
Earnings per common share attributable to GSI Group Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.18 |  |  | $ | 0.19 |  |  | $ | 0.56 |  |  | $ | 0.10 |
Diluted | $ | 0.18 |  |  | $ | 0.19 |  |  | $ | 0.56 |  |  | $ | 0.10 |
| Three Months Ended |
| December 31, |  |  | September 26, |  |  | June 27, |  |  | March 28, |
| 2014 |  |  | 2014 |  |  | 2014 |  |  | 2014 |
Revenue | $ | 94,012 |  |  | $ | 94,656 |  |  | $ | 96,905 |  |  | $ | 79,133 |
Cost of revenue |  | 54,284 |  |  |  | 54,973 |  |  |  | 58,254 |  |  |  | 47,028 |
Gross profit |  | 39,728 |  |  |  | 39,683 |  |  |  | 38,651 |  |  |  | 32,105 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development and engineering |  | 7,837 |  |  |  | 7,735 |  |  |  | 7,525 |  |  |  | 5,857 |
Selling, general and administrative |  | 21,840 |  |  |  | 21,512 |  |  |  | 21,410 |  |  |  | 19,618 |
Amortization of purchased intangible assets |  | 2,799 |  |  |  | 2,843 |  |  |  | 2,876 |  |  |  | 1,744 |
Restructuring, acquisition and divestiture related costs |  | (14 | ) |  |  | 771 |  |  |  | 360 |  |  |  | 818 |
Impairment of goodwill and intangible assets |  | 41,442 |  |  |  | — |  |  |  | — |  |  |  | — |
Total operating expenses |  | 73,904 |  |  |  | 32,861 |  |  |  | 32,171 |  |  |  | 28,037 |
Operating income (loss) from continuing operations |  | (34,176 | ) |  |  | 6,822 |  |  |  | 6,480 |  |  |  | 4,068 |
Interest income (expense), foreign exchange transaction gains (losses) and other income (expense), net |  | (127 | ) |  |  | 310 |  |  |  | (1,017 | ) |  |  | (275 | )
Income (loss) from continuing operations before income taxes |  | (34,303 | ) |  |  | 7,132 |  |  |  | 5,463 |  |  |  | 3,793 |
Income tax provision (benefit) |  | (6,013 | ) |  |  | 2,013 |  |  |  | 2,057 |  |  |  | 937 |
Income (loss) from continuing operations |  | (28,290 | ) |  |  | 5,119 |  |  |  | 3,406 |  |  |  | 2,856 |
Loss from discontinued operations, net of tax |  | (790 | ) |  |  | (273 | ) |  |  | (2,678 | ) |  |  | (1,866 | )
Loss on disposal of discontinued operations, net of tax |  | (1,405 | ) |  |  | (321 | ) |  |  | — |  |  |  | — |
Consolidated net income (loss) |  | (30,485 | ) |  |  | 4,525 |  |  |  | 728 |  |  |  | 990 |
Less: Net income attributable to noncontrolling interest |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | (7 | )
Net income (loss) attributable to GSI Group Inc. | $ | (30,485 | ) |  | $ | 4,525 |  |  | $ | 725 |  |  | $ | 983 |
Earnings (loss) per common share from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.82 | ) |  | $ | 0.15 |  |  | $ | 0.10 |  |  | $ | 0.08 |
Diluted | $ | (0.82 | ) |  | $ | 0.15 |  |  | $ | 0.10 |  |  | $ | 0.08 |
Loss per common share from discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.06 | ) |  | $ | (0.02 | ) |  | $ | (0.08 | ) |  | $ | (0.05 | )
Diluted | $ | (0.06 | ) |  | $ | (0.02 | ) |  | $ | (0.08 | ) |  | $ | (0.05 | )
Earnings (loss) per common share attributable to GSI Group Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.88 | ) |  | $ | 0.13 |  |  | $ | 0.02 |  |  | $ | 0.03 |
Diluted | $ | (0.88 | ) |  | $ | 0.13 |  |  | $ | 0.02 |  |  | $ | 0.03 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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