Camtek Announces Results For The Third Quarter Of 2020

 

Net income per ordinary share:





Nine months ended
September 30.

Three months ended September 30,

Year ended December 31,



2020

2019

2020

2019

2019



U.S. dollars

U.S. dollars

U.S. dollars

Basic earnings from continuing operation


 

0.36

 

0.43

 

0.15

 

0.11

 

0.55


Basic earnings from discontinued operation


 

-

 

0.03

 

-

 

-

 

0.03


Basic net earnings


0.36

0.47

0.15

0.11

0.58


Diluted earnings from continuing operation


 

0.35

 

0.43

 

0.15

 

0.11

 

0.54


Diluted earnings from discontinued operation


 

-

 

0.03

 

-

 

-

 

0.03


Diluted net earnings


0.35

0.46

0.15

0.11

0.57



Weighted average number of







  ordinary shares outstanding







  (in thousands):








Basic


38,957

37,286

39,176

36,300

37,626


Diluted


39,878

38,064

40,066

36,941

37,432

 

Reconciliation of GAAP To Non-GAAP results

(In thousands, except share data)




Nine Months ended 
 September 30,

Three Months
ended
September 30,

Year ended 
December 31,


2020

2019

2020

2019

2019


U.S. dollars

U.S. dollars

U.S. dollars


Reported net income attributable to Camtek Ltd. on GAAP basis

 

14,112

17,379

6,024

4,163

21,986

Share-based compensation

3,053

2,068

1,285

818

2,892

Chroma transaction expenses (1)

-

136

-

63

136

Attributable to discontinued operations

-

(1,163)

-

-

(1,163)







Non-GAAP net income

17,165

18,420

7,309

5,044

23,851







Non–GAAP net income per diluted share

 

0.43

0.48

0.18

0.13

0.62

Gross margin on GAAP basis from continuing operations

 

46.6%

 

48.5%

 

48.5%

 

46.9%

 

48.3%

Reported gross profit on GAAP basis

 

49,925

48,943

19,425

15,218

64,784

Share-based compensation

308

207

120

85

292







Non- GAAP gross margin

50,233

49,150

19,545

15,303

65,076

Non-GAAP gross profit  

46.8%

48.8%

48.8%

47.1%

48.6%







 

Reported operating income attributable to Camtek Ltd. on GAAP basis from continuing operations

 

 

 

14,599

 

 

 

17,384

 

 

 

6,321

 

 

 

4,373

 

 

 

21,972

Share-based compensation

3,053

2,068

1,285

818

2,892

Chroma transaction expenses (1)

-

136

-

63

136

Non-GAAP operating income

17,652

19,588

7,606

5,254

25,000







(1)  In the second and third quarters of 2019, certain transaction expenses were incurred in relation to the technological cooperation agreement with Chroma. These were recorded under operating expenses



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