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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| Nine months ended |
| Three months ended | ||||
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| September 30, |
| September 30, | ||||
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| 2018 |
| 2017 |
| 2018 |
| 2017 |
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Reported operating income on GAAP basis | 118,075 |
| 94,671 |
| 37,404 |
| 44,037 |
Equity-based compensation expenses | 10,015 |
| 6,982 |
| 3,822 |
| 2,480 |
Amortization of intangible assets | 19,113 |
| 18,635 |
| 6,372 |
| 6,371 |
Transaction cost pending merger with KLA | 4,706 |
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| 944 |
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Non-GAAP operating income | $151,909 |
| $120,288 |
| $48,542 |
| $52,888 |
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Reported net income attributable to Orbotech Ltd. on GAAP basis | $95,609 |
| $76,504 |
| $29,224 |
| $36,554 |
Equity-based compensation expenses | 10,015 |
| 6,982 |
| 3,822 |
| 2,480 |
Amortization of intangible assets | 19,113 |
| 18,635 |
| 6,372 |
| 6,371 |
Tax effect of non-GAAP adjustments | (3,383) |
| (2,244) |
| (1,083) |
| (748) |
Transaction cost pending merger with KLA | 4,706 |
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| 944 |
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Non-GAAP net income | $126,060 |
| $99,877 |
| $39,279 |
| $44,657 |
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GAAP earnings per diluted share | $1.95 |
| $1.57 |
| $0.59 |
| $0.75 |
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Non-GAAP earnings per diluted share | $2.57 |
| $2.05 |
| $0.79 |
| $0.91 |
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| Shares used in earnings per diluted share computation - in thousands | 49,037 |
| 48,812 |
| 49,502 |
| 48,903 |
