ORBOTECH LTD (ORBK) [Rocket]

In millions, except per share items	Dec-31-17	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09
	6-K	20-F	20-F	20-F	20-F	20-F	20-F	20-F
Revenues:
Production solutions for the electronics industry $ in thousands								345.3
Recognition software $ in thousands								14.1
Total $ in thousands								359.3
Total revenues [+]	900.9	752.5	582.7	440.0	387.0	551.5	529.4	359.3
Products		537.4	404.0	294.0	238.9	415.8	409.5	251.8
Services		215.1	178.8	146.0	148.1	135.6	119.8	107.5
Revenue growth		29.1%	32.4%	13.7%	-29.8%	4.2%	47.3%
Cost of goods sold [+]	475.5	867.9	696.2	531.0	517.1	694.3	656.4	220.2
Cost of product sales		285.5	224.0	156.7	129.6	234.3	224.6	146.5
Cost of services		127.2	105.6	91.8	103.8	93.4	88.3	73.7
Gross profit	425.3	-115.4	-113.5	-91.0	-130.1	-142.9	-127.1	139.1
Gross margin	47.2%	-15.3%	-19.5%	-20.7%	-33.6%	-25.9%	-24.0%	38.7%
Selling, general and administrative [+]	143.4	177.2	147.3	116.2	102.6	98.7	93.6	63.6
Sales and marketing		117.5	96.2	75.9	73.1	70.5	66.3
General and administrative		59.7	51.1	40.2	29.5	28.2	27.3
Other selling, general and administrative		117.5	96.2	75.9	73.1	70.5	66.3
Research and development	125.4	212.4	180.0	142.3	139.2	164.7	159.5	130.4
Equity in earnings		0.6	0.4	0.3	0.2	0.2
Other operating expenses	19.0	-599.7	-495.7	-397.0	-367.5	-466.3	-437.8	-49.8
EBITDA [+]	182.1	140.0	85.2	60.8	13.5	80.0	81.4	24.9
EBITDA growth		64.2%	40.2%	350.1%	-83.1%	-1.6%	227.3%
EBITDA margin	20.2%	18.6%	14.6%	13.8%	3.5%	14.5%	15.4%	6.9%
Depreciation and amortization	19.5	15.1	11.1	9.2	8.0	7.6	9.5	10.1
EBITA	162.5	124.9	74.1	51.6	5.5	72.4	71.9	14.7
EBITA margin	18.0%	16.6%	12.7%	11.7%	1.4%	13.1%	13.6%	4.1%
Amortization of intangibles	25.0	30.2	19.2	4.0	9.9	12.3	14.2	19.8
EBIT [+]	137.5	94.7	54.9	47.5	-4.4	60.1	57.7	-5.1
EBIT growth		72.5%	15.5%	-1177.1%	-107.3%	4.2%	-1225.8%
EBIT margin	15.3%	12.6%	9.4%	10.8%	-1.1%	10.9%	10.9%	-1.4%
Non-recurring items [+]			6.8		36.4
Asset impairment					30.1
Interest expense, net [+]		-0.6	-1.1	-1.5	-3.1	-1.9	0.0
Interest expense				1.2	3.4	4.7	1.1
Interest income		0.6	1.1	1.5	3.1	1.9	1.0
Other income (expense), net [+]	-5.5	-24.2	-10.1	-1.4	-4.8	-3.8	-7.2	-11.1
Gain (loss) on sale of business		-0.6
Pre-tax income	132.0	71.1	39.1	46.3	-45.9	53.5	50.4	-16.2
Income taxes	1.1	13.8	3.4	6.9	0.5	7.7	7.4	-0.4
Tax rate	0.8%	19.4%	8.7%	14.9%		14.3%	14.7%	2.3%
Minority interest	-1.5	0.1	0.1	0.8	1.0	-0.3	0.1	0.2
Earnings from continuing ops	130.9	56.7	35.1	38.3	-47.5	46.0	68.4	-23.8
Earnings from discontinued ops						1.4	8.7	3.9
Net income	130.9	56.7	35.1	38.3	-47.5	47.3	77.2	-19.9
Net margin	14.5%	7.5%	6.0%	8.7%	-12.3%	8.6%	14.6%	-5.5%

Basic EPS [+]	$48,850.00	$1.34	$0.84	$0.90	($1.09)	$1.15	$1.96	($0.69)
Growth		58.5%	-6.4%	-182.4%	-194.8%	-41.2%	-383.7%
Diluted EPS [+]	$48,850.00	$1.31	$0.82	$0.89	($1.09)	$1.13	$1.91	($0.69)
Growth		59.1%	-7.2%	-181.1%	-196.9%	-41.1%	-376.8%

Shares outstanding (basic) [+]	0.0	42.4	41.7	42.6	43.5	39.9	34.9	34.5
Growth		1.7%	-2.0%	-2.1%	9.0%	14.3%	1.2%
Shares outstanding (diluted) [+]	0.0	43.3	42.8	43.3	43.5	40.8	35.8	34.5
Growth		1.3%	-1.1%	-0.6%	6.6%	14.1%	3.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.