GSI Group Expects Impairment Charge Of $38-43 Mln In Q4

(RTTNews) - GSI Group Inc. (GSIG) Monday said it expects to record a non-cash impairment charge of $38 million to $43 million in the fourth quarter, related to its NDS Surgical Imaging business.

The company determined that a write-down of the goodwill and intangible assets related to NDS was required, following its annual budgeting and long-term strategic planning cycle, which established lower expectations for sales and income for the business.

"While we are disappointed in the deterioration of the NDS financial outlook, we continue to see meaningful strategic value and growth opportunity in the business," said CEO John Roush.