Orbotech Reports Fourth Quarter and Full Year 2015 Results

 

ORBOTECH LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

 (Unaudited)








12 months ended


3 months ended


December 31


December 31


2015


2014


2015


2014









Revenues 

$752,517


$582,746


$188,235


$197,491

Cost of revenues

412,719


329,553


103,623


112,614

Gross profit

339,798


253,193


84,612


84,877









Operating expenses: 








Research and development, net

103,854


88,651


27,596


28,045

Selling, general and administrative

117,493


96,169


28,371


32,426

Equity in earnings of Frontline

(5,849)


(5,769)


(1,873)


(1,028)

Amortization of intangible assets

30,224


19,235


6,677


8,805

Gain from the sale of the Thermal activity

(628)







SPTS acquisition costs



6,761





Total operating expenses

245,094


205,047


60,771


68,248









Operating income

94,704


48,146


23,841


16,629

Financial expenses - net

23,585


9,046


5,180


5,232









Income before taxes on income

71,119


39,100


18,661


11,397

Taxes on income

13,788


3,419


2,651


(1,660)

Share in losses of equity method investee

615


417


200


102









Net income

56,716


35,264


15,810


12,955

Net loss attributable to 








the non-controlling interests

(55)


(116)


(237)


(167)









Net income attributable to Orbotech Ltd. 

$56,771


$35,380


$16,047


$13,122

















Basic earnings per share

$1.34


$0.85


$0.37


$0.31









Diluted earnings per share

$1.31


$0.83


$0.37


$0.31

















Weighted average number of shares (in thousands)








used in computation of:








Basic earnings per share

42,412


41,703


42,852


41,707

Diluted earnings per share

43,322


42,757


43,575


42,626


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