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GSI Group Announces Financial Results for the Second Quarter 2014
Date:8/6/2014

BEDFORD, Mass., Aug. 6, 2014 /PRNewswire/ -- GSI Group Inc. (NASDAQ: GSIG) (the "Company", "we", "our", "GSI"),  a global leader and supplier of precision photonics and motion control components and subsystems to the medical equipment and advanced industrial technology markets, today reported financial results for the second quarter of 2014.
Unless otherwise noted, all financial results in this press release are GAAP measures from continuing operations. The reported results from continuing operations exclude the operating results of the Company's Scientific Lasers business, which is classified as discontinued operations. 

Second QuarterDuring the second quarter of 2014, GSI generated revenue of $96.9 million, an increase of 21.5% from $79.8 million in the second quarter of 2013.  The acquisition of JADAK accounted for a 19.5% increase in revenue year over year, and changes in foreign exchange rates contributed to a 1.4% increase in revenue.  Excluding the impact of the JADAK acquisition and changes in foreign exchange rates, the Company's revenue increased 0.6% compared to the second quarter of 2013.

"We are pleased to deliver another strong quarter that saw solid commercial progress across most of our businesses, as evidenced by our new product and customer wins and overall demand for our technologies," said John Roush, Chief Executive Officer.  "Our Laser Products segment was up 8.4%, our Precision Motion segment was up 6.3%, and our Medical Technologies segment was up 57.2%, which included strong organic revenue growth for JADAK."In the second quarter of 2014, operating income from continuing operations was $6.5 million, or 6.7% of revenue, compared to $5.4 million, or 6.8% of revenue, in the second quarter of 2013.  The increase in operating income from continuing operations was primarily attributable to an increase in gross profit
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SOURCE GSI Group Inc.
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