Orbotech Reports First Quarter 2015 Results

 

 

ORBOTECH LTD.


RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA


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

 (Unaudited)










3   m o n t h s   e n d e d 


12 months ended



  March 3 1


  December 31



2015


2014


2014
















Net income attributable to Orbotech Ltd. on GAAP basis

$11,802


$6,287


$35,380


Minority interest and equity losses 

253


134


301


Tax expenses

1,752


1,350


3,419


Financial expenses

6,471


327


9,046


Depreciation and amortization 

12,660


3,471


30,333


Equity- based compensation expenses

889


816


3,192


SPTS acquisition costs





6,761


ADJUSTED EBITDA

$33,827


$12,385


$88,432
















 

 

ORBOTECH LTD.

RECONCILIATION OF GAAP NET INCOME TO CREDIT FACILITY EBITDA

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

 (Unaudited)











12 months ended




  March 31




2015










Net income attributable to Orbotech Ltd. on GAAP basis


$40,895


Minority interest and equity losses 


420


Tax expenses


3,821


Financial expenses


15,191


Depreciation and amortization 


39,521


Equity- based compensation expenses


3,265


SPTS acquisition costs


6,761


SPTS full 12 months contribution (1)


5,028


Litigation expenses


1,261


Other (2)




CREDIT FACILITY EBITDA (3)


$116,163










(1) The SPTS Acquisition was completed on August 7, 2014.  This adjustment gives full year effect to the SPTS Acquisition by reflecting SPTS's contribution to Credit Facility EBITDA for the period from April 1, 2014 to August 7, 2014, determined in accordance with the Credit Agreement.  This adjustment has been derived from SPTS's books and records, is unaudited and does not correspond to SPTS's historical accounting periods. This presentation does not reflect our pro forma results and should not used as indicative of our future results.


(2) Reflects adjustments permitted by the Credit Agreement, including with respect to employee and other matters.




(3) Credit Facility EBITDA does not reflect any annualized expense reductions anticipated as a result of operational changes made as part of the SPTS Acquisition estimated by us in good faith as permitted by the Credit Agreement.  Because we are in the preliminary stages of assessing our operations after the SPTS Acquisition, this adjustment does not include the approximately $10 million of annual cost savings that we believe may be available from our supply chain optimization project.  Although we are carefully assessing the efficiency of our business, we may not identify additional cost savings or achieve the estimated cost savings in the timeframe or amount we anticipate, if at all.  Accordingly, you should not place undue reliance on our ability to achieve cost savings or synergies.



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article
Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Job Openings: Can EDA Predict the Future
More Editorial  
Jobs
Engr, Elec Des 2 for KLA-Tencor at Milpitas, CA
Senior FPGA Designer for Fidus Electronic Product Development at Fremont, CA
Technical Support Engineer for EDA Careers at Freemont, CA
Verification Engineer for Ambarella at Santa Clara, CA
Technical Support Engineer Germany/UK for EDA Careers at San Jose, CA
Upcoming Events
CDNLive Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Apr 11 - 12, 2017
10th Anniversary of Cyber-Physical Systems Week at Pittsburgh, PA, USA PA - Apr 18 - 21, 2017
DVCon 2017 China, April 19, 2017, Parkyard Hotel Shanghai, China at Parkyard Hotel Shanghai Shanghai China - Apr 19, 2017
Zuken Innovation World 2017 at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
S2C: FPGA Base prototyping- Download white paper



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy