Orbotech Reports First Quarter 2015 Results

 

 


ORBOTECH LTD


CONDENSED CONSOLIDATED BALANCE SHEETS


U. S. dollars  in  thousands


(Unaudited)





March 31


December 31





2015


2014



ASSETS













CURRENT ASSETS:







    Cash and cash equivalents


$154,460


$136,367



    Restricted cash


13,244


10,000



    Short-term bank deposits


7,024


10,000



    Accounts receivable:







      Trade


249,739


248,071



      Other


36,148


39,076



    Deferred income taxes


6,818


8,213



    Inventories


158,002


157,030



              T o t a l  current assets


625,435


608,757









INVESTMENTS AND NON-CURRENT ASSETS:







    Marketable securities


5,910


5,890



    Funds in respect of employee rights upon retirement


9,620


9,755



    Deferred income taxes


11,630


13,067



    Equity method investee and other receivable


9,453


8,926



    Deferred financing costs


7,158


7,470





43,771


45,108









PROPERTY, PLANT AND EQUIPMENT, net


53,108


55,580









OTHER INTANGIBLE ASSETS, net


136,164


145,082









GOODWILL


179,445


179,445










              T o t a l  assets


1,037,923


1,033,972

















LIABILITIES AND EQUITY













CURRENT LIABILITIES:







   Current maturities of long-term loan


$2,508


$2,636



    Accounts payable and accruals:







      Trade


66,994


64,683



      Other


71,188


81,747



    Deferred income


37,162


38,008



              T o t a l  current liabilities


177,852


187,074









LONG-TERM LIABILITIES:







    Long-term  loan


293,349


293,851



    Liability for employee rights upon retirement


22,804


22,763



    Deferred income taxes


19,687


20,185



    Other tax liabilities


12,681


13,218



              T o t a l  long-term liabilities


348,521


350,017










              T o t a l  liabilities


526,373


537,091









EQUITY:







    Share capital


2,171


2,163



    Additional paid-in capital


296,089


293,056



    Retained earnings


315,752


303,950



    Accumulated other comprehensive income (loss)


(2,307)


(1,980)





611,705


597,189



    Less treasury shares, at cost


(99,539)


(99,539)



               T o t a l  Orbotech Ltd. shareholders' equity


512,166


497,650



    Non-controlling interest


(616)


(769)



               T o t a l  equity


511,550


496,881










              T o t a l  liabilities and equity


$1,037,923


$1,033,972










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