Camtek Announces Third Quarter 2014 Results

 

 





Camtek Ltd.

Reconciliation of GAAP To Non-GAAP results




(In thousands, except share data)




Nine Months ended

Three Months ended

Year ended


September 30,

September 30,

December 31,


2014

2013

2014

2013

2013


U.S. dollars

U.S. dollars

U.S. dollars





Reported net income (loss) attributable to Camtek Ltd. on GAAP basis

3,269

(653)

618

(122)

7

Acquisition of Sela and Printar related expenses (1)

 

639

 

1,517

 

227

 

523

 

(1,949)

Inventory and fixed asset write- downs (2)

-

-

-

-

4,433

Share-based compensation

233

429

102

144

377

Realization of deferred tax assets (3)

-

-

-

-

(1,287)

Employee related charges

-

-

-

-

490

Non-GAAP net income

4,141

1,293

947

545

2,071







Non –GAAP net income  per share , basic and diluted

0.14

0.04

0.03

0.02

0.07

Gross margin on GAAP basis

46.6%

44.6%

44.4%

44.6%

40.3%

Reported gross profit on GAAP basis

31,567

27,709

9,969

9,687

34,402

Acquisition of Sela and Printar related expenses ( 1)

-

 

225

-

 

75

 

225

Inventory write-downs  (2)

-

-

-

-

3,915

Share-based compensation

33

50

9

22

55

Employee related charges (4)

-

-

-

-

25

Non- GAAP gross margin

46.7%

45.1%

44.5%

45.0%

45.2%

Non-GAAP gross profit

31,600

27,984

9,978

9,784

38,622







Reported operating income (loss) attributable to Camtek Ltd. on GAAP basis

4,776

1,440

1,042

600

1,136

Acquisition of Sela and Printar related expenses (1)

-

225

-

75

(3,241)

Inventory and fixed asset write- downs (2)

-

-

-

-

4,433

Share-based compensation

200

429

93

144

377

Employee related charges

-

-

-

-

490

Non-GAAP operating income

4,976

2,094

1,135

819

3,195


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