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ORBOTECH LTD. | |||||||
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RECONCILIATION OF GAAP TO NON-GAAP RESULTS | |||||||
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U.S. dollars in thousands (except per share data) | |||||||
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(Unaudited) | |||||||
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Year ended |
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Three months ended | ||||
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December 31 |
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December 31 | ||||
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2016 |
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2015 |
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2016 |
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2015 |
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Reported operating income on GAAP basis |
$116,945 |
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$94,704 |
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$36,064 |
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$23,841 |
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Equity-based compensation expenses |
6,356 |
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3,816 |
|
2,037 |
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1,219 |
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Amortization of intangible assets |
27,456 |
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30,224 |
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6,706 |
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6,677 |
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Gain from the sale of the Thermal product business |
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(628) |
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Non-GAAP operating income |
$150,757 |
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$128,116 |
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$44,807 |
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$31,737 |
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Reported net income attributable to Orbotech Ltd. on GAAP basis |
$79,438 |
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$56,771 |
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$25,631 |
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$16,047 |
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Equity-based compensation expenses |
6,356 |
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3,816 |
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2,037 |
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1,219 |
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Amortization of intangible assets |
27,456 |
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30,224 |
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6,706 |
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6,677 |
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Gain from the sale of the Thermal product business |
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(628) |
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Tax adjustments re non-GAAP adjustments |
(3,205) |
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(46) |
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(795) |
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(775) |
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Share in losses of equity method investee |
600 |
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615 |
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150 |
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200 |
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Charges associated with the retirement of the 2014 Credit Agreement |
6,228 |
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Non-GAAP net income |
$116,873 |
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$90,752 |
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$33,729 |
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$23,368 |
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GAAP earnings per diluted share |
$1.71 |
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$1.31 |
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$0.53 |
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$0.37 |
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Non-GAAP earnings per diluted share |
$2.52 |
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$2.09 |
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$0.70 |
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$0.54 |
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Shares used in earnings per diluted share computation- in thousands |
46,461 |
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43,322 |
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48,513 |
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43,575 |
