Orbotech Reports Third Quarter 2018 Results

 

 

ORBOTECH LTD.



RECONCILIATION OF GAAP TO NON-GAAP RESULTS



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



 (Unaudited)




















Nine months ended


Three months ended


September 30,


September 30,


2018


2017


2018


2017









Reported operating income on GAAP basis

118,075


94,671


37,404


44,037

Equity-based compensation expenses

10,015


6,982


3,822


2,480

Amortization of intangible assets

19,113


18,635


6,372


6,371

Transaction cost pending merger with KLA

4,706




944



Non-GAAP operating income

$151,909


$120,288


$48,542


$52,888









Reported net income attributable to Orbotech Ltd. on GAAP basis

$95,609


$76,504


$29,224


$36,554

Equity-based compensation expenses

10,015


6,982


3,822


2,480

Amortization of intangible assets

19,113


18,635


6,372


6,371

Tax effect of non-GAAP adjustments

(3,383)


(2,244)


(1,083)


(748)

Transaction cost pending merger with KLA

4,706




944



Non-GAAP net income

$126,060


$99,877


$39,279


$44,657









GAAP earnings per diluted share

$1.95


$1.57


$0.59


$0.75









Non-GAAP earnings per diluted share

$2.57


$2.05


$0.79


$0.91









Shares used in earnings per diluted share computation - in thousands

49,037


48,812


49,502


48,903


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