Camtek Announces Third Quarter 2016 Results

 

Reconciliation of GAAP To Non-GAAP results





(In thousands, except share data)














Nine Months ended

 September 30,


Three Months ended

September 30,


Year ended

December 31,


2016


2015


2016


2015


2015


U.S. dollars


U.S. dollars


U.S. dollars

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

2,387


1,694


1,078


995


(10,113)

Effect of FIT reorganization (1)

872


-


872


-


-

Acquisition of Sela and Printar related expenses (2)

183


463


-


122


751

Inventory write-downs (3)

-


-


-


-


1,041

Loss from litigation, net of tax (4)

-


-


-


-


13,286

Share-based compensation

319


212


118


92


270

Non-GAAP net income

3,761


2,369


2,068


1,209


5,235











Non –GAAP net income  per share ,

basic and diluted

 

0.06


0.07


0.04


0.03


0.16

Gross margin on GAAP basis

38.1%


44.2%


26.2%


44.8%


43.4%

Reported gross profit on GAAP basis

 

30,540


32,480


7,469


11,806


43,126

Effect of FIT reorganization (1)

4,931


-


4,931


-


-

Inventory write-downs (3)

-


-


-


-


1,041

Share-based compensation

33


17


10


7


24

Non- GAAP gross margin

35,504


32,497


12,410


11,813


44,191

Non-GAAP gross profit

44.3%


44.2%


43.6%


44.9%


44.5%











 

Reported operating income attributable
to Camtek Ltd. on GAAP basis

 

 

3,771


 

 

4,019


 

 

1,664


 

 

1,788


 

 

(10,059)

Effect of FIT reorganization (1)

872


-


872


-


-

Acquisition of Sela and Printar related

expenses (2)

 

-


 

-


 

-


 

-


 

138

Inventory write-downs (3)

-


-


-


-


1,041

Share-based compensation

319


212


118


92


271

Loss from litigation (4)

-


-


-


-


14,600

Non-GAAP operating income

4,962


4,231


2,654


1,880


5,991


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