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CONDENSED CONSOLIDATED STATEMENTS OF OPERATION | |||||||||
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U.S. dollars in thousands (except per share data) | |||||||||
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(Unaudited) | |||||||||
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9 months ended |
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3 months ended |
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September 30 |
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September 30 |
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|
2016 |
|
2015 |
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2016 |
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2015 |
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|
|
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|
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|
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Revenues |
$591,360 |
|
$564,282 |
|
$204,953 |
|
$190,503 |
|
|
|
Cost of revenues |
319,634 |
|
309,096 |
|
108,739 |
|
104,158 |
|
|
|
Gross profit |
271,726 |
|
255,186 |
|
96,214 |
|
86,345 |
|
|
|
|
|
|
|
|
|
|
|
|
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Operating expenses: |
|
|
|
|
|
|
|
|
|
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Research and development, net |
80,049 |
|
76,258 |
|
27,345 |
|
25,439 |
|
|
|
Selling, general and administrative |
92,357 |
|
89,121 |
|
31,068 |
|
30,094 |
|
|
|
Equity in earnings of Frontline |
(2,311) |
|
(3,976) |
|
(634) |
|
(1,754) |
|
|
|
Amortization of intangible assets |
20,750 |
|
23,547 |
|
7,615 |
|
7,519 |
|
|
|
Gain from the sale of the Thermal product business |
|
|
(628) |
|
|
|
|
|
|
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Total operating expenses |
190,845 |
|
184,322 |
|
65,394 |
|
61,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Operating income |
80,881 |
|
70,864 |
|
30,820 |
|
25,047 |
|
|
|
Financial expenses - net |
15,318 |
|
18,406 |
|
1,171 |
|
6,138 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before taxes on income |
65,563 |
|
52,458 |
|
29,649 |
|
18,909 |
|
|
|
Taxes on income |
11,599 |
|
11,137 |
|
4,885 |
|
2,769 |
|
|
|
Share in losses of equity method investee |
450 |
|
415 |
|
150 |
|
200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net income |
53,514 |
|
40,906 |
|
24,614 |
|
15,940 |
|
|
|
Net gain (loss) attributable to |
|
|
|
|
|
|
|
|
|
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the non-controlling interests |
(293) |
|
182 |
|
(99) |
|
21 |
|
|
|
|
|
|
|
|
|
|
|
|
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Net income attributable to Orbotech Ltd. |
$53,807 |
|
$40,724 |
|
$24,713 |
|
$15,919 |
|
|
|
|
|
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|
|
|
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|
|
|
|
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|
|
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|
|
|
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Basic earnings per share |
$1.20 |
|
$0.96 |
|
$0.52 |
|
$0.37 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Diluted earnings per share |
$1.17 |
|
$0.94 |
|
$0.51 |
|
$0.37 |
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Weighted average number of shares (in thousands) |
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used in computation of: |
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
44,867 |
|
42,266 |
|
47,397 |
|
42,557 |
|
|
|
Diluted earnings per share |
45,813 |
|
43,237 |
|
48,385 |
|
43,491 |
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