Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of May 2018

Commission File Number 000-12790

 

 

ORBOTECH LTD.

(Translation of Registrant’s name into English)

 

 

7 SANHEDRIN BOULEVARD, NORTH INDUSTRIAL ZONE, YAVNE 8110101, ISRAEL

(Address of principal executive offices)

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F           ☒                    Form 40-F          ☐        

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


Attached hereto as an Exhibit and incorporated by reference herein is the following document of the Registrant:

 

    Registrant’s Condensed Consolidated Statements of Operations for the six months ended June 30, 2017 and 2016

This information has been provided to facilitate the preparation of certain unaudited pro forma financial information in connection with the previously announced transaction with KLA-Tencor Corporation. The information on this Form 6-K, including the exhibit attached hereto, shall not be deemed ‘filed’ for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

EXHIBITS

 

Exhibit #

  

Description

99.1    Registrant’s Condensed Consolidated Statements of Operations for the six months ended June 30, 2017 and 2016.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

ORBOTECH LTD.

(Registrant)

By:           /s/ Alon Rozner
  Alon Rozner
 

Corporate Vice President and

Chief Financial Officer

Date: May 16, 2018

EX-99.1

Exhibit 99.1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands (except per share data)

(Unaudited)

 

     Six months ended
June 30,
 
     2017     2016  

Revenues

   $ 398,312     $ 386,407  

Cost of revenues

     212,572       210,895  
  

 

 

   

 

 

 

Gross profit

     185,740       175,512  

Operating expenses:

    

Research and development, net

     58,741       52,704  

Selling, general and administrative

     66,456       61,289  

Equity in earnings of Frontline

     (2,355     (1,677

Amortization of intangible assets

     12,264       13,135  
  

 

 

   

 

 

 

Total operating expenses

     135,106       125,451  
  

 

 

   

 

 

 

Operating income

     50,634       50,061  

Financial expenses—net

     3,573       14,147  
  

 

 

   

 

 

 

Income before taxes on income

     47,061       35,914  

Taxes on income

     7,687       6,714  

Share in losses of equity method investee

       300  
  

 

 

   

 

 

 

Net income

     39,374       28,900  

Net loss attributable to non-controlling interests

     (576     (194
  

 

 

   

 

 

 

Net income attributable to Orbotech Ltd.

   $ 39,950     $ 29,094  
  

 

 

   

 

 

 

Basic earnings per share

   $ 0.83     $ 0.67  
  

 

 

   

 

 

 

Diluted earnings per share

   $ 0.82     $ 0.65  
  

 

 

   

 

 

 

Weighted average number (in thousands) of shares used in computation of:

    

Basic earnings per share

     47,909       43,603  

Diluted earnings per share

     48,806       44,527