Orbotech Reports First Quarter 2018 Results

 

 


CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

 (Unaudited)







Three months ended


Year ended



March 31,


December 31,



2018


2017


2017









Revenues 

$250,551


$187,649


$900,856


Cost of revenues

132,642


100,524


475,538


Gross profit

117,909


87,125


425,318









Operating expenses: 







Research and development, net

33,595


28,675


125,434


Selling, general and administrative

41,066


33,953


143,363


Gain from the release of AMST earn out payment obligation





(1,471)


Equity in earnings of P.C.B. Solutions L.P ("Frontline")

(1,529)


(1,050)


(4,524)


Amortization of intangible assets

6,371


5,893


25,006


Transaction cost pending merger with KLA

2,481






Total operating expenses

81,984


67,471


287,808









Operating income

35,925


19,654


137,510


Financial expenses (income) - net

(1,645)


2,006


5,535









Income before taxes on income

37,570


17,648


131,975


Taxes on income

7,671


2,868


1,088









Net income

29,899


14,780


130,887


Net loss attributable to non-controlling interests

(368)


(140)


(1,498)









Net income attributable to Orbotech Ltd. 

$30,267


$14,920


$132,385
















Basic earnings per share

$0.62


$0.31


$2.76









Diluted earnings per share

$0.61


$0.31


$2.71









Weighted average number of shares (in thousands)







used in computation of:







Basic earnings per share

48,437


47,839


47,989


Diluted earnings per share

49,331


48,768


48,850










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