Orbotech Reports First Quarter 2016 Results

 

ORBOTECH LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

 (Unaudited)


3 months ended


12 months ended


March 31


December 31


2016


2015


2015







Revenues 

$190,427


$184,784


$752,517

Cost of revenues

104,824


101,707


412,719

Gross profit

85,603


83,077


339,798

Operating expenses: 






Research and development, net

26,569


25,779


103,854

Selling, general and administrative

30,023


28,973


117,493

Equity in earnings of Frontline

(636)


(871)


(5,849)

Amortization of intangible assets

6,295


8,918


30,224

Gain from the sale of the Thermal activity





(628)

Total operating expenses

62,251


62,799


245,094

Operating income

23,352


20,278


94,704

Financial expenses - net

4,664


6,471


23,585

Income before taxes on income

18,688


13,807


71,119

Taxes on income

2,845


1,752


13,788

Share in losses of equity method investee

150


100


615

Net income

15,693


11,955


56,716

Net gain (loss) attributable to 






the non-controlling interests

(61)


153


(55)

Net income attributable to Orbotech Ltd. 

$15,754


$11,801


$56,771

 Basic earnings per share

$0.36


$0.28


$1.34

Diluted earnings per share

$0.36


$0.28


$1.31

Weighted average number of shares (in thousands)






used in computation of:






Basic earnings per share

43,186


41,961


42,412

Diluted earnings per share

44,062


42,860


43,322


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