Exhibit 99.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
THREE MONTHS THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED MARCH 31, ENDED JUNE 30,
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2006 2005 2006 2005 2006 2005
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Revenues $209,493 $121,635 $219,110 $116,995 $428,603 $238,630
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Costs and expenses:
Costs of goods sold * 160,779 87,476 174,380 85,371 335,159 172,847
Research and development, net* 12,996 9,274 11,290 8,175 24,286 17,449
Selling and marketing * 13,666 8,580 13,921 8,484 27,587 17,064
General and administrative * 9,199 4,037 4,973 2,463 14,172 6,500
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Total costs and expenses 196,640 109,367 204,564 104,493 401,204 213,860
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Operating income 12,853 12,268 14,546 12,502 27,399 24,770
Financial income, net 1,512 2,988 1,366 1,562 2,878 4,550
Other income, net - - 1,184 - 1,184 -
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Income before taxes on income 14,365 15,256 17,096 14,064 31,461 29,320
Taxes on income 1,112 - 1,414 - 2,526 -
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Income after taxes on income 13,253 15,256 15,682 14,064 28,935 29,320
Equity in losses of an affiliate 1,334 656 1,208 963 2,542 1,619
Minority interest in earnings of
a subsidiary 8,786 7,976 8,823 8,084 17,609 16,060
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Net income $3,133 $6,624 $5,651 $5,017 $8,784 $11,641
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Basic net earnings per share $0.08 $0.18 $0.15 $0.14 $0.23 $0.32
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Diluted net earnings per share $0.08 $0.17 $0.14 $0.13 $0.22 $0.30
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Weighted average number of shares
used in computing basic net
earnings per share 37,957,382 36,039,809 37,596,152 35,748,892 37,776,767 35,894,351
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Weighted average number of shares
used in computing diluted net
earnings per share 42,465,375 41,070,719 41,344,978 38,479,010 41,905,177 39,774,865
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* Stock based compensation expense
is included in the following
line items:
Cost of goods sold $187 $45 $204 $49 $391 $94
Research and development, net 726 225 821 245 1,547 470
Selling and marketing 691 296 978 321 1,669 617
General and administrative 710 156 1,014 172 1,724 328
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Total $2,314 $722 $3,017 $787 $5,331 $1,509
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