|
ORBOTECH LTD. | ||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
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U.S. dollars in thousands (except per share data) | ||||||||
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(Unaudited) | ||||||||
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Six months ended |
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Three months ended |
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June 30, |
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June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Revenues |
$398,312 |
|
$386,407 |
|
$210,663 |
|
$195,980 |
|
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Cost of revenues |
212,572 |
|
210,895 |
|
112,048 |
|
106,071 |
|
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Gross profit |
185,740 |
|
175,512 |
|
98,615 |
|
89,909 |
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Operating expenses: |
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Research and development, net |
58,741 |
|
52,704 |
|
30,066 |
|
26,135 |
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Selling, general and administrative |
66,456 |
|
61,289 |
|
32,503 |
|
31,266 |
|
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Equity in earnings of Frontline |
(2,355) |
|
(1,677) |
|
(1,305) |
|
(1,041) |
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Amortization of intangible assets |
12,264 |
|
13,135 |
|
6,371 |
|
6,840 |
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Total operating expenses |
135,106 |
|
125,451 |
|
67,635 |
|
63,200 |
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Operating income |
50,634 |
|
50,061 |
|
30,980 |
|
26,709 |
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Financial expenses - net |
3,573 |
|
14,147 |
|
1,567 |
|
9,483 |
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Income before taxes on income |
47,061 |
|
35,914 |
|
29,413 |
|
17,226 |
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Taxes on income |
7,687 |
|
6,714 |
|
4,819 |
|
3,869 |
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Share in losses of equity method investee |
|
|
300 |
|
|
|
150 |
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|
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|
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|
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|
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Net income |
39,374 |
|
28,900 |
|
24,594 |
|
13,207 |
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Net loss attributable to non-controlling interests |
(576) |
|
(194) |
|
(436) |
|
(133) |
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Net income attributable to Orbotech Ltd. |
$39,950 |
|
$29,094 |
|
$25,030 |
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$13,340 |
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Basic earnings per share |
$0.83 |
|
$0.67 |
|
$0.52 |
|
$0.30 |
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Diluted earnings per share |
$0.82 |
|
$0.65 |
|
$0.51 |
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$0.30 |
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Weighted average number (in thousands) of shares |
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used in computation of: |
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Basic earnings per share |
47,909 |
|
43,603 |
|
47,907 |
|
44,019 |
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|
Diluted earnings per share |
48,806 |
|
44,527 |
|
48,868 |
|
44,992 |
|
