Orbotech Reports First Quarter 2016 Results

 

ORBOTECH LTD.

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

U.S. dollars in thousands (except per share data)

 (Unaudited)














3 months ended


12 months ended


March 31


December 31


2016


2015


2015







Reported operating income on GAAP basis

$23,352


$20,278


$94,704

Equity based compensation expenses

1,680


889


3,816

Amortization of intangible assets

6,295


8,918


30,224

Gain from the sale of the Thermal activity





(628)

Non-GAAP operating income

$31,327


$30,085


$128,116







Reported net income attributable to Orbotech Ltd. on GAAP basis

$15,754


$11,801


$56,771

Equity- based compensation expenses

1,680


889


3,816

Amortization of intangible assets

6,295


8,918


30,224

Gain from the sale of the Thermal activity, net of tax effect





(628)

Tax adjustments re non-GAAP adjustments

(729)


(949)


(46)

Share in losses of associated company

150


100


615

Non-GAAP net income

$23,150


$20,759


$90,752







Non-GAAP earnings per diluted share

$0.53


$0.48


$2.09







Shares used in earnings per diluted share calculation-in thousands

44,062


42,860


43,322








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