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

n net operating losses, which will result in the refund of tax payments made in the carryback periods and lower income tax payments in the carryforward period.

"While we continue to operate in a sluggish capital spending environment, we are making strong progress on our agenda," said John Roush.  "Our growth initiatives are gaining momentum, our restructuring actions have improved our global competitiveness and our strong balance sheet gives us the financial flexibility to continue to invest in growth while delivering attractive returns to our shareholders."

Strategic UpdateThe Company's focus on laser scanning applications continues to deliver strong growth, with overall scanning revenue up roughly 16% compared to the prior year and scanning solutions products growing approximately 75% compared to the prior year.
The majority of this growth is driven by the Company's Lightning II digital scanning subsystem, which is seeing strong demand in the via hole drilling and scribing applications.  These applications address the growth in smartphones, tablets, and other similar consumer electronic device markets.  The Company has also experienced new design wins and is seeing stronger demand from rapid prototyping and converting applications, which are experiencing increased penetration of laser-based manufacturing processes.GSI's medical strategy continues to demonstrate solid progress.  The Company's Encoders business line received a $2.8 million production order for a major medical OEM in the quarter, with the majority of the shipments expected to be made over the next five months.  In addition, NDS launched a new high definition surgical display, specifically designed for emerging markets and engineered for multiple applications within any operating room setting.  NDS was also awarded an over $2 million order for its Dome branded radiology displays. 

During the quarter, the Company implemented a more selective
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SOURCE GSI Group Inc.
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