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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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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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2018 |
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2017 |
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2018 |
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2017 |
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Reported operating income on GAAP basis |
80,671 |
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50,634 |
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44,746 |
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30,980 |
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Equity-based compensation expenses |
6,193 |
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4,502 |
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3,161 |
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2,284 |
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Amortization of intangible assets |
12,741 |
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12,264 |
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6,370 |
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6,371 |
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Transaction cost pending merger with KLA |
3,762 |
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1,281 |
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Non-GAAP operating income |
$103,367 |
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$67,400 |
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$55,558 |
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$39,635 |
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Reported net income attributable to Orbotech Ltd. on GAAP basis |
$66,386 |
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$39,950 |
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$36,119 |
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$25,030 |
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Equity-based compensation expenses |
6,193 |
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4,502 |
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3,161 |
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2,284 |
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Amortization of intangible assets |
12,741 |
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12,264 |
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6,370 |
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6,371 |
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Tax effect of non-GAAP adjustments |
(2,301) |
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(1,496) |
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(1,242) |
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(748) |
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Transaction cost pending merger with KLA |
3,762 |
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1,281 |
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Non-GAAP net income |
$86,781 |
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$55,220 |
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$45,689 |
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$32,937 |
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GAAP earnings per diluted share |
$1.35 |
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$0.82 |
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$0.73 |
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$0.51 |
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Non-GAAP earnings per diluted share |
$1.77 |
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$1.13 |
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$0.92 |
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$0.67 |
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Shares used in earnings per diluted share computation - in thousands |
48,998 |
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48,806 |
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49,443 |
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48,868 |
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