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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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Six months ended |
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Three months ended |
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June 30, |
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June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Reported operating income on GAAP basis |
$50,634 |
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$50,061 |
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$30,980 |
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$26,709 |
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Equity-based compensation expenses |
4,502 |
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2,958 |
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2,284 |
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1,278 |
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Amortization of intangible assets |
12,264 |
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13,135 |
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6,371 |
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6,840 |
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Non-GAAP operating income |
$67,400 |
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$66,154 |
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$39,635 |
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$34,827 |
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Reported net income attributable to Orbotech Ltd. on GAAP basis |
$39,950 |
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$29,094 |
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$25,030 |
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$13,340 |
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Equity-based compensation expenses |
4,502 |
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2,958 |
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2,284 |
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1,278 |
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Amortization of intangible assets |
12,264 |
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13,135 |
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6,371 |
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6,840 |
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Tax effect of non-GAAP adjustments |
(1,496) |
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(1,523) |
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(748) |
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(794) |
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Share in losses of equity method investee |
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300 |
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150 |
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Charges associated with the retirement of the 2014 Credit Agreement |
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6,228 |
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6,228 |
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Non-GAAP net income |
$55,220 |
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$50,192 |
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$32,937 |
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$27,042 |
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GAAP earnings per diluted share |
$0.82 |
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$0.65 |
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$0.51 |
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$0.30 |
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Non-GAAP earnings per diluted share |
$1.13 |
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$1.13 |
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$0.67 |
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$0.60 |
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Shares used in earnings per diluted share computation- in thousands |
48,806 |
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44,527 |
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48,868 |
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44,992 |
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