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© robyn mackenzie dreamstime.com_pie Electronics Production | October 30, 2014

Camtek sees revenue increase during Q3

For Camtek, the third quarter of 2014 was an important one, as it sets the stage for 2015. And the company did see improvements in both revenue and profit.
Revenues for the third quarter of 2014 were USD 22.4 million. This is a 3% improvement compared to revenues of USD 21.7 million in the third quarter of 2013.

Gross profit on a GAAP basis in the quarter totalled USD 10.0 million (44.4% of revenues), a 3% improvement compared to USD 9.7 million (44.6% of revenues) in the third quarter of 2013.

Operating income on a GAAP basis in the quarter was USD 1.0 million (4.6% of revenues), compared with an operating income of USD 0.6 million (2.8% of revenues) in the third quarter of 2013.

Net income on a GAAP basis in the quarter totalled USD 0.6 million (2.8% of revenues), compared to a net loss of USD 0.1 million in the third quarter of 2013.

Rafi Amit, Camtek's Chairman and CEO, commented, "Strategically the third quarter was very important for us and sets the stage for 2015. We opened a demonstration center for the Gryphon, our 3D Functional InkJet Technology system for PCB solder mask applications, at which potential customers can see the system in action. This will support our efforts to capitalize on the industry interest we are seeing in this product. We remain on track and expect initial commercial Gryphon installations to begin in the fourth quarter, with revenues expected in 2015.”

Additionally Camtek's semiconductor systems achieved qualification at new semiconductor manufacturers, some of which the company had not significantly penetrated in the past.

“These are large vendors that are getting ready to ramp up with their new manufacturing facilities and their capabilities. As the demand for their products picks up we expect to see the potential for getting multiple orders and selling significant quantities of tools," Rafi Amit added.

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