Orbotech Reports Second Quarter 2018 Results

 

 

ORBOTECH LTD.

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

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

 (Unaudited)


















Six months ended


Three months ended


June 30,


June 30


2018


2017


2018


2017

















Reported operating income on GAAP basis

80,671


50,634


44,746


30,980

Equity-based compensation expenses

6,193


4,502


3,161


2,284

Amortization of intangible assets

12,741


12,264


6,370


6,371

Transaction cost pending merger with KLA

3,762




1,281











Non-GAAP operating income

$103,367


$67,400


$55,558


$39,635









Reported net income attributable to Orbotech Ltd. on GAAP basis

$66,386


$39,950


$36,119


$25,030

Equity-based compensation expenses

6,193


4,502


3,161


2,284

Amortization of intangible assets

12,741


12,264


6,370


6,371

Tax effect of non-GAAP adjustments

(2,301)


(1,496)


(1,242)


(748)

Transaction cost pending merger with KLA

3,762




1,281



Non-GAAP net income

$86,781


$55,220


$45,689


$32,937









GAAP earnings per diluted share

$1.35


$0.82


$0.73


$0.51









Non-GAAP earnings per diluted share

$1.77


$1.13


$0.92


$0.67









Shares used in earnings per diluted share computation - in thousands

48,998


48,806


49,443


48,868


















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