Camtek Announces Second Quarter 2014 Results

 

Reconciliation of GAAP To Non-GAAP results

(In thousands, except share data)











Six Months ended

June 30,


Three Months ended

June 30,


Year ended

December 31,


2014


2013


2014


2013


2013


U.S. dollars


U.S. dollars


U.S. dollars











Reported net income (loss) attributable to Camtek Ltd. on GAAP basis

2,651


(531)


2,012


335


7











Acquisition of Sela and Printar related expenses (1)

412


 

994


206


 

516


 

(1,949)

Inventory and fixed asset write –downs (2)

-


-


-


-


4,433

Share-based compensation

131


285


92


141


377

Realization of deferred tax assets (3)

-


-


-


-


(1,287)

Employee related charges (4)

-


-


-


-


490











Non-GAAP net income

3,194


748


2,310


992


2,071











Non –GAAP net income  per share, basic and diluted

0.10


0.03


0.08


0.03


0.07











Gross margin on GAAP basis

47.7%


44.7%


49.5%


44.1%


40.3%

Reported gross profit on GAAP basis

21,598


18,022


11,468


9,819


34,402











Acquisition of Sela and Printar related expenses (1)

-


 

150


-


 

75


 

225

Inventory and fixed asset write –downs (2)

-


-


-


-


3,915

Share-based compensation

24


27


8


21


55

Employee related charges (4)

-


-


-


-


25

Non- GAAP gross margin

47.7%


45.1%


49.5%


44.4%


45.2%

Non-GAAP gross profit

21,622


18,199


11,476


9,915


38,622











Reported operating income attributable to Camtek Ltd. on GAAP basis

3,734


 

 

840


2,564


 

 

993


 

 

1,136











Acquisition of Sela and Printar related expenses (1)

-


150


-


75


(3,241)

Inventory and fixed asset write-downs (2)

-


-


-


-


4,433

Share-based compensation

123


285


84


141


377

Employee related charges



-




-


490











Non-GAAP operating income

3,857


1,275


2,648


1,209


3,195


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