ORBOTECH LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

 (Unaudited)

12 months ended

3 months ended

December 31

December 31

2015

2014

2015

2014

Revenues 

$752,517

$582,746

$188,235

$197,491

Cost of revenues

412,719

329,553

103,623

112,614

Gross profit

339,798

253,193

84,612

84,877

Operating expenses: 

Research and development, net

103,854

88,651

27,596

28,045

Selling, general and administrative

117,493

96,169

28,371

32,426

Equity in earnings of Frontline

(5,849)

(5,769)

(1,873)

(1,028)

Amortization of intangible assets

30,224

19,235

6,677

8,805

Gain from the sale of the Thermal activity

(628)

SPTS acquisition costs

6,761

Total operating expenses

245,094

205,047

60,771

68,248

Operating income

94,704

48,146

23,841

16,629

Financial expenses - net

23,585

9,046

5,180

5,232

Income before taxes on income

71,119

39,100

18,661

11,397

Taxes on income

13,788

3,419

2,651

(1,660)

Share in losses of equity method investee

615

417

200

102

Net income

56,716

35,264

15,810

12,955

Net loss attributable to 

the non-controlling interests

(55)

(116)

(237)

(167)

Net income attributable to Orbotech Ltd. 

$56,771

$35,380

$16,047

$13,122

Basic earnings per share

$0.37

$0.31

Diluted earnings per share

$1.31

$0.83

$0.37

$0.31

Weighted average number of shares (in thousands)

used in computation of:

Basic earnings per share

42,412

41,703

42,852

41,707

Diluted earnings per share

43,322

42,757

43,575

42,626