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© stevanovicigor-dreamstime.com PCB | May 07, 2013

Stable Q1 for Orbotech

A stable start opening to the year for Orbotech, despite slightly lower revenues and sales than the corresponding period last year - but the company expecting a better second quarter.
Revenues for the first quarter of 2013 totaled USD 95.5 million, compared to USD 97.1 million in the fourth quarter, and USD 96.5 million in the first quarter, of 2012.

GAAP net income for the first quarter of 2013 was USD 5.0 million, compared to GAAP net loss of USD 0.7 million in the fourth quarter of 2012 and GAAP net income of USD 1.6 million in the first quarter of 2012.

Commenting on the results, Asher Levy, Chief Executive Officer, said: “We are pleased to report a good opening to the new year and expect to post still better results in the second quarter, when we anticipate revenues of approximately USD 105 million. We are benefiting from the steps we took last year to reduce our expense structure and improve our balance sheet, as well as from improved industry conditions."

"We remain focused on key areas, such as introducing new products, providing highest quality service to our customers and improving our operating leverage, which is clearly reflected in our results. Orbotech remains committed to seeking opportunities to utilize existing technologies for the development of new products, and for uses in new industries, in order to generate incremental growth and to continue to provide our customers with innovative solutions.”

2013 second quarter:

Revenue guidance: approximately $105 million

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