Equity Method Based Investees

12 Months Ended

Dec. 31, 2015

Equity Method Investments And Joint Ventures [Abstract]

NOTE 2 – EQUITY METHOD BASED INVESTEES:

(i)

Frontline P.C.B. Solutions Limited Partnership (“Frontline”)

Frontline, an Israeli limited partnership, is equally owned by the Company and Mentor Graphics Development Services (Israel) Ltd., and combines the former computer-aided manufacturing (“CAM”) operations of both companies. The Company’s subsidiaries market and provide customer support in respect of Frontline’s products. The Company’s share in the earnings of Frontline is presented under operating income since Frontline is integrated into the operations of the Company. As of December 31, 2015 and 2014, the Company’s investment in Frontline amounted to $5,279,000 and $4,683,000, respectively. The Company’s share in Frontline’s earnings amounted to $5,849,000, $5,769,000 and $5,553,000 in the years ended December 31, 2015, 2014 and 2013, respectively.

Summarized financial information for Frontline is presented below:

(i)

Balance sheet data:

	December 31
	2015		2014
	$ in thousands
Assets:
Current assets		12,036		11,445
Non Current assets		2,318		1,888
Total assets		14,354		13,333
Liabilities:
Current liabilities		1,681		1,663
Non Current liabilities		2,295		2,192
Total liabilities		3,976		3,855

NOTE 2 – EQUITY METHOD BASED INVESTEES (continued):

(ii)

Operating results data:

	Year ended December 31
	2015		2014		2013
	$ in thousands
Operating results data:
Total revenues		27,795		28,776		27,210
Gross profit		23,053		20,688		19,565
Net income		11,699		11,538		11,106

(iii)

Other:

	Year ended December 31
	2015		2014		2013
	$ in thousands
Related parties transactions included in:
Cost of products sold		470		682		852
Selling, general and administrative expenses		3,078		3,310		3,127

	December 31
	2015		2014
	$ in thousands
Balances with related parties (included in trade payables)		5,553		5,345

(ii)

PixCell Medical Technologies, Ltd. (“PixCell”)

At December 31, 2014, the Company held approximately 40% of the share capital of PixCell. During 2015, the Company purchased additional shares of PixCell for a total amount of $1.5 million, following which, at December 31, 2015, it held approximately 46% of the share capital of PixCell. PixCell is an Israeli company developing diagnostic equipment for point-of-care hematology applications, in particular low cost, high speed complete blood count (CBC) and hemoglobin level tests. As of December 31, 2015 and 2014, the Company’s investment in PixCell amounted to $3,872,000 and $2,987,000 respectively. The Company’s share in PixCell’s losses amounted to $615,000, $417,000 and $252,000 in the years ended December 31, 2015, 2014 and 2013, respectively.