Orbotech Reports Fourth Quarter and Full Year 2015 Results

 

ORBOTECH LTD.

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

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

 (Unaudited)





















12 months ended


3 months ended



December 31


December 31



2015


2014


2015


2014




















Reported operating income on GAAP basis

$94,704


$48,146


$23,841


$16,629


Equity based compensation expenses

3,816


3,192


1,219


822


Amortization of intangible assets

30,224


19,235


6,677


8,805


Gain from the sale of the Thermal activity

(628)








Non-GAAP operating income

$128,116


$70,573


$31,737


$26,256











Reported net income attributable to Orbotech Ltd. on GAAP basis

$56,771


$35,380


$16,047


$13,122


Equity- based compensation expenses

3,816


3,192


1,219


822


Amortization of intangible assets

30,224


19,235


6,677


8,805


Gain from the sale of the Thermal activity, net of tax effect

(628)








Tax adjustments re non-GAAP adjustments

(46)


(1,823)


(775)


(935)


SPTS acquisition costs



6,761




0


Share in losses of associated company

615


417


200


102


Non-GAAP net income

$90,752


$63,162


$23,368


$21,916











Non-GAAP earnings per diluted share

$2.09


$1.48


$0.54


$0.51











Shares used in earnings per diluted share calculation-in thousands

43,322


42,757


43,575


42,626



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