ORBOTECH LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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

 (Unaudited)

3 months ended

12 months ended

March 31

December 31

2015

2015

Revenues 

$190,427

$184,784

$752,517

Cost of revenues

104,824

101,707

412,719

Gross profit

85,603

83,077

339,798

Operating expenses: 

Research and development, net

26,569

25,779

103,854

Selling, general and administrative

30,023

28,973

117,493

Equity in earnings of Frontline

(636)

(871)

(5,849)

Amortization of intangible assets

6,295

8,918

30,224

Gain from the sale of the Thermal activity

(628)

Total operating expenses

62,251

62,799

245,094

Operating income

23,352

20,278

94,704

Financial expenses - net

4,664

6,471

23,585

Income before taxes on income

18,688

13,807

71,119

Taxes on income

2,845

1,752

13,788

Share in losses of equity method investee

150

100

615

Net income

15,693

11,955

56,716

Net gain (loss) attributable to 

the non-controlling interests

(61)

153

(55)

Net income attributable to Orbotech Ltd. 

$15,754

$11,801

$56,771

 Basic earnings per share

$0.28

$1.34

Diluted earnings per share

$0.36

$0.28

$1.31

Weighted average number of shares (in thousands)

used in computation of:

Basic earnings per share

43,186

41,961

42,412

Diluted earnings per share

44,062

42,860

43,322