|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
|
U.S. dollars in thousands (except per share data) | |||||||
|
(Unaudited) | |||||||
|
|
|
|
|
|
| ||
|
|
Year ended |
|
Three months ended | ||||
|
|
December 31 |
|
December 31 | ||||
|
|
2016 |
|
2015 |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
Revenues |
$806,402 |
|
$752,517 |
|
$215,042 |
|
$188,235 |
|
Cost of revenues |
433,995 |
|
412,719 |
|
114,361 |
|
103,623 |
|
Gross profit |
372,407 |
|
339,798 |
|
100,681 |
|
84,612 |
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Research and development, net |
107,095 |
|
103,854 |
|
27,046 |
|
27,596 |
|
Selling, general and administrative |
124,356 |
|
117,493 |
|
31,999 |
|
28,371 |
|
Equity in earnings of Frontline |
(3,445) |
|
(5,849) |
|
(1,134) |
|
(1,873) |
|
Amortization of intangible assets |
27,456 |
|
30,224 |
|
6,706 |
|
6,677 |
|
Gain from the sale of the Thermal product business |
|
|
(628) |
|
|
|
|
|
Total operating expenses |
255,462 |
|
245,094 |
|
64,617 |
|
60,771 |
|
|
|
|
|
|
|
|
|
|
Operating income |
116,945 |
|
94,704 |
|
36,064 |
|
23,841 |
|
Financial expenses - net |
21,042 |
|
23,585 |
|
5,724 |
|
5,180 |
|
|
|
|
|
|
|
|
|
|
Income before taxes on income |
95,903 |
|
71,119 |
|
30,340 |
|
18,661 |
|
Taxes on income |
16,308 |
|
13,788 |
|
4,709 |
|
2,651 |
|
Share in losses of equity method investee |
600 |
|
615 |
|
150 |
|
200 |
|
|
|
|
|
|
|
|
|
|
Net income |
78,995 |
|
56,716 |
|
25,481 |
|
15,810 |
|
Net loss attributable to |
|
|
|
|
|
|
|
|
the non-controlling interests |
(443) |
|
(55) |
|
(150) |
|
(237) |
|
|
|
|
|
|
|
|
|
|
Net income attributable to Orbotech Ltd. |
$79,438 |
|
$56,771 |
|
$25,631 |
|
$16,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
$1.74 |
|
$1.34 |
|
$0.54 |
|
$0.37 |
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
$1.71 |
|
$1.31 |
|
$0.53 |
|
$0.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares (in thousands) |
|
|
|
|
|
|
|
|
used in computation of: |
|
|
|
|
|
|
|
|
Basic earnings per share |
45,534 |
|
42,412 |
|
47,645 |
|
42,852 |
|
Diluted earnings per share |
46,461 |
|
43,322 |
|
48,513 |
|
43,575 |
