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GSI Group Announces Financial Results for the Third Quarter 2013
Date:11/5/2013

BEDFORD, Mass., Nov. 5, 2013 /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, industrial, electronics and scientific markets, today reported financial results for the third quarter of 2013.
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 Semiconductor Systems and Laser Systems business lines, which were classified as discontinued operations beginning in the second quarter of 2012.

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Third Quarter"We are pleased to report strong financial results across the board for the third quarter," said John Roush, Chief Executive Officer.  "We delivered profitable growth, which reflects progress against our strategic goals as well as improved conditions in some of our end markets." 

During the third quarter of 2013, GSI generated revenue of $85.5 million, an increase of 23% from $69.5 million in the third quarter of 2012.  The acquisition of NDS Surgical Imaging ("NDS") accounted for a 21% increase in revenue year over year, while changes in foreign exchange rates contributed to a (1%) decrease in revenue.  Excluding the impact of the NDS acquisition and changes in foreign exchange rates, the Company's revenue increased 3% compared to the third quarter of 2012.

In the third quarter of 2013, income from operations was $5.7 million, or 6.7% of revenue, compared to $3.8 million, or 5.5% of revenue, during the same period in 2012.  Included in the third quarter of 2013 income from operati
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