Orbotech Reports Second Quarter 2017 Results

For more information about all of the foregoing items, see the Reconciliation, the Company's Annual Report on Form 20-F filed with the SEC for the year ended December 31, 2016, and its other SEC filings.

 

ORBOTECH LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

U. S. dollars  in  thousands

 (Unaudited)


June 30,


December 31,



2017


2016


ASSETS










CURRENT ASSETS:





    Cash and cash equivalents

$       214,608


$           216,292


    Restricted cash



12,487


    Marketable securities

204




    Short-term bank deposits

3,442


789


    Accounts receivable - trade

361,237


326,343


    Prepaid expenses and other current assets

48,316


47,258


    Inventories

152,142


132,435


              T o t a l  current assets

779,949


735,604







INVESTMENTS AND NON-CURRENT ASSETS:





    Marketable securities

8,064


7,012


    Funds in respect of employee rights upon retirement

10,121


8,375


    Deferred income taxes

21,740


19,840


    Equity method investee and other receivables

5,191


9,113



45,116


44,340







PROPERTY, PLANT AND EQUIPMENT, net

65,092


62,375







OTHER INTANGIBLE ASSETS, net

80,263


84,210







GOODWILL

176,804


176,374







              T o t a l  assets

$    1,147,224


$       1,102,903












LIABILITIES AND EQUITY










CURRENT LIABILITIES:





   Current maturities of long-term loan

$          16,364


$             16,364


    Accounts payable and accruals:





      Trade

84,494


72,085


      Other

102,719


114,692


    Deferred income

31,009


28,576


              T o t a l  current liabilities

234,586


231,717







LONG-TERM LIABILITIES:





    Long-term loan, net

55,886


72,002


    Liability with respect to Applied Microstructure, Inc. ("AMST")

1,471


1,471


    Liability for employee rights upon retirement

23,753


22,973


    Deferred income taxes

13,169


14,392


    Other tax liabilities

9,226


7,567


              T o t a l  long-term liabilities

103,505


118,405







              T o t a l  liabilities

338,091


350,122







EQUITY:





    Share capital

2,386


2,381


    Additional paid-in capital

425,919


420,185


    Retained earnings

480,109


440,159


    Accumulated other comprehensive loss

(2,732)


(9,221)



905,682


853,504


    Less treasury shares, at cost

(99,539)


(99,539)


               T o t a l  Orbotech Ltd. equity

806,143


753,965


    Non-controlling interest

2,990


(1,184)


               T o t a l  equity

809,133


752,781







              T o t a l  liabilities and equity

$    1,147,224


$       1,102,903



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