Camtek Announces Record Results For The Fourth Quarter And Full Year Of 2020

 

 

 

Net income per ordinary share:


Year ended December 31,

Three Months ended December 31,


2020

2019

2020

2019


U.S. dollars

U.S. dollars






Basic earnings from continuing operation

0.55

0.55

0.19

0.12






Basic earnings from discontinued





operation *

-

0.03

-

-






Basic net earnings

0.55

0.58

0.19

0.12






Diluted earnings from continuing





 operation

0.54

0.54

0.18

0.12






Diluted earnings from discontinued





operation *

-

0.03

-

-






Diluted net earnings

0.54

0.57

0.18

0.12






Weighted average number of





  ordinary shares outstanding:










Basic

39,383

37,626

40,894

38,630






Diluted

40,372

38,432

41,964

39,497

 

 

 

Reconciliation of GAAP To Non-GAAP results


(In thousands, except share data)


Year ended December 31,

Three Months ended December 31,


2020

2019

2020

2019


U.S. dollars

U.S. dollars






Reported net income attributable to 
     Camtek Ltd. on GAAP basis

21,778

21,986

7,666

4,607

Share-based compensation

4,224

2,892

1,171

824

Chroma transaction expenses (1)

-

136

-

-

Attributable to discontinued operations

-

(1,163)

-

-

Non-GAAP net income

26,002

23,851

8,837

5,431






Non–GAAP net income per diluted share

0.63

0.62

0.21

0.14

Gross margin on GAAP basis

47.0%

48.3%

47.9%

47.7%

Reported gross profit on GAAP basis

73,321

64,784

23,306

15,841

Share-based compensation

429

292

121

85

Non-GAAP gross margin

47.3%

48.6%

48.2%

48.0%

Non-GAAP gross profit  

73,750

65,076

23,427

15,926






Reported operating income (loss)
attributable to Camtek Ltd. on GAAP
basis

 

 

22,624

 

 

21,972

 

 

8,025

 

 

4,588

Share-based compensation

4,224

2,892

1,171

824

Chroma transaction expenses (1)

-

136

-

-

Non-GAAP operating income

26,848

25,000

9,196

5,412





(1)  In the second and third quarters of 2019, certain transaction expenses were incurred in relation to the technological cooperation agreement with Chroma. These were recorded under operating expenses.






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