This press release provides financial measures that exclude: (i) share based compensation expenses; (ii) certain Chroma transaction expenses; and (iii) discontinued operations, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release.
CAMTEK LTD. and its subsidiaries
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(In thousands) | |||||
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| September 30, | December 31, | |||
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| 2020 | 2019 | |||
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| U.S. Dollars (In thousands) | ||||
Assets |
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Current assets |
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Cash and cash equivalents | 26,042 | 38,047 | |||
Short-term deposits | 80,000 | 51,500 | |||
Trade accounts receivable, net | 33,747 | 31,443 | |||
Inventories | 34,436 | 23,803 | |||
Other current assets | 3,032 | 2,909 | |||
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Total current assets | 177,257 | 147,702 | |||
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Fixed assets, net | 18,886 | 18,526 | |||
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Long term inventory | 4,090 | 2,791 | |||
Deferred tax asset, net | 8 | 746 | |||
Other assets, net | 80 | 113 | |||
Intangible assets, net | 619 | 491 | |||
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| 4,797 | 4,141 | |||
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Total assets | 200,940 | 170,369 | |||
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Liabilities and shareholders' equity |
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Current liabilities |
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Trade accounts payable | 20,468 | 11,334 | |||
Other current liabilities | 24,283 | 20,272 | |||
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Total current liabilities | 44,751 | 31,606 | |||
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Long term liabilities |
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Other long term liabilities | 2,191 | 2,461 | |||
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| 2,191 | 2,461 | |||
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Total liabilities | 46,942 | 34,067 | |||
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Commitments and contingencies |
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Shareholders' equity |
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Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at September 30, 2020 and at December 31, 2019; |
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41,303,757 issued shares at September 30, 2019 and 40,742,355 at December 31, 2019; |
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39,211,381 shares outstanding at September 30, 2020 and 38,649,979 at December 31, 2019 |
159 |
157 | |||
| Additional paid-in capital | 104,909 | 101,327 | |||
| Retained earnings | 50,828 | 36,716 | |||
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| 155,896 | 138,200 | |||
| Treasury stock, at cost (2,092,376 as of September 30, 2020 and December 31, 2019) |
(1,898) |
(1,898) | |||
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| Total shareholders' equity | 153,998 | 136,302 | |||
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| Total liabilities and shareholders' equity | 200,940 | 170,369 | |||
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