Orbotech Reports Third Quarter 2017 Results

 



                                                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

                                                                                        (Unaudited)









Nine months ended


Three months ended



September 30,


September 30,



2017


2016


2017


2016











Revenues

$643,976


$591,360


$245,664


$204,953


Cost of revenues

340,224


319,634


127,652


108,739


Gross profit

303,752


271,726


118,012


96,214











Operating expenses:









Research and development, net

90,662


80,049


31,921


27,345


Selling, general and administrative

103,019


92,357


36,563


31,068


Equity in earnings ofP.C.B. Solutions L.P ("Frontline")

(3,235)


(2,311)


(880)


(634)


Amortization of intangible assets

18,635


20,750


6,371


7,615


Total operating expenses

209,081


190,845


73,975


65,394











Operating income

94,671


80,881


44,037


30,820


Financial expenses - net

4,890


15,318


1,317


1,171











Income before taxes on income

89,781


65,563


42,720


29,649


Taxes on income

14,256


11,599


6,569


4,885


Share in losses of equity method investee



450




150











Net income

75,525


53,514


36,151


24,614


Net loss attributable to non-controlling interests

(979)


(293)


(403)


(99)











Net income attributable to Orbotech Ltd.

$76,504


$53,807


$36,554


$24,713




















Basic earnings per share

$1.60


$1.20


$0.76


$0.52











Diluted earnings per share

$1.57


$1.17


$0.75


$0.51











Weighted average number of shares (in thousands)









used in computation of:









Basic earnings per share

47,914


44,867


47,995


47,397


Diluted earnings per share

48,812


45,813


48,903


48,385












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