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ORBOTECH LTD. | ||||||||
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RECONCILIATION OF GAAP TO NON-GAAP RESULTS | ||||||||
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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 |
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2015 |
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2016 |
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2015 |
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Reported operating income on GAAP basis |
$80,881 |
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$70,864 |
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$30,820 |
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$25,047 |
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Equity-based compensation expenses |
4,319 |
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2,597 |
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1,361 |
|
848 |
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Amortization of intangible assets |
20,750 |
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23,547 |
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7,615 |
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7,519 |
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Gain from the sale of the Thermal product business |
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(628) |
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Non-GAAP operating income |
$105,950 |
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$96,380 |
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$39,796 |
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$33,414 |
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Reported net income attributable to Orbotech Ltd. on GAAP basis |
$53,807 |
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$40,724 |
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$24,713 |
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$15,919 |
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Equity-based compensation expenses |
4,319 |
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2,597 |
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1,361 |
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848 |
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Amortization of intangible assets |
20,750 |
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23,547 |
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7,615 |
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7,519 |
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Gain from the sale of the Thermal product business |
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(628) |
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Tax adjustments re non-GAAP adjustments |
(2,410) |
|
729 |
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(887) |
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(782) |
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Share in losses of equity method investee |
450 |
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415 |
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150 |
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200 |
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Charges associated with the retirement of the 2014 Credit Agreement |
6,228 |
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Non-GAAP net income |
$83,144 |
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$67,384 |
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$32,952 |
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$23,704 |
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GAAP earnings per diluted share |
$1.17 |
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$0.94 |
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$0.51 |
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$0.37 |
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Non-GAAP earnings per diluted share |
$1.81 |
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$1.56 |
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$0.68 |
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$0.55 |
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Shares used in earnings per diluted share calculation-in thousands |
45,813 |
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43,237 |
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48,385 |
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43,491 |
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