GSI Group Reports Revenue Growth in 2015
BEDFORD, Mass., March 17, 2016 — GSI Group Inc. has reported 2015 generated GAAP revenue of $373.6 million, up 2 percent from 2014’s total of $364.7 million. Adjusted revenue for the full year 2015 was $368 million, an increase of 7 percent from $342.5 million for the full year 2014.
The company acquired three technology businesses to enhance its product portfolio and competitive position. It also divested the non-core JK Lasers business for what GSI called an “attractive valuation.”
Year-end momentum in medical applications stabilized the company’s revenue base and offset slowing demand in certain industrial markets.
For the full year 2015, GAAP operating income from continuing operations was $28.9 million, compared to a loss of $16.8 million for 2014. Adjusted operating income from continuing operations was $49.9 million for the full year 2015, compared to $44.7 million for 2014.
GSI Group Inc. designs, develops, manufactures and sells precision photonics and motion control components and subsystems to OEMs in medical and advanced industrial markets.