GSI Group Inc. Expects to Record Non-Cash Impairment Charge for the Fourth Quarter of 2014; Provides Earnings Guidance for the Full Year of 2015
January 12, 2015 at 10:23 pm
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GSI Group Inc. announced that it expects to record a non-cash impairment charge in the range of $38 million to $43 million in the fourth quarter of 2014, related to its NDS Surgical Imaging (NDS) business.
For the full year 2015, the company expects the total sales from Medical customers, across all businesses, to be up mid-to-low teens on a reported basis, and up mid-single digit on an organic basis. The company expects its amortization expense in 2015 to be approximately $11 million, $3 million lower than originally anticipated as a consequence of this charge. The company also re-affirmed that it expects its sales and adjusted EBITDA for the full year of 2014 to be consistent with the guidance it provided in its press release on November 5, 2014.
Novanta Inc. is a supplier of core technology solutions, which give medical and advanced industrial original equipment manufacturers. The Company has three segments. Precision Medicine and Manufacturing segment designs, manufactures and markets photonics-based solutions, including laser scanning, laser beam delivery, carbon dioxide laser, solid state laser, ultrafast laser, and optical light engine products to customers worldwide. Medical Solutions segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators, pumps and related disposables; visualization solutions; wireless technologies, video recorders and video integration technologies, and others. Robotics and Automation segment designs, manufactures and markets optical and inductive encoders, precision motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, and air bearing spindles to customers worldwide.
NOVANTA INC. 
