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Electronics Production | November 09, 2011

Orbotech announces Q2 results

Revenues for Q2 totaled $153.4 million, compared to $134.2 million in the first quarter of 2011 and $144.9 million in Q2 2010, the company stated.

GAAP net income for the second quarter of 2011 was $18.9 million, compared to GAAP net income of $11.2 million for the first quarter of 2011 and GAAP net income of $12.4 million in the second quarter of 2010. Commenting on the second quarter, Rani Cohen, President and Chief Executive Officer, said: “We recorded a strong quarter, with revenue results on track and improved margins. Demand in the primary industries that we serve remains healthy; and we are pursuing significant additional opportunities within the electronic component manufacturing and other adjacent industries. We have already begun to deploy some of these solutions to touch screen manufacturers”. 2011 second quarter: Revenues: $153.4 million, up 14% from the first quarter of 2011 Non-GAAP net income: $21.8 million, or $0.56 per share (diluted), up from $15.2 million, or $0.42 per share (diluted), in the first quarter of 2011 Operating margin: 14.1%, up from 11.2% in the first quarter of 2011 Cash generated from ongoing operations: $22.4 million 2011 second half and full year guidance: Reiterating second half 2011 revenues: $280 - 290 million Raising 2011 non-GAAP earnings per share: $1.80 - $1.85 per share (diluted), up from $1.70 - $1.78 per share (diluted) Raising 2011 GAAP earnings per share from continuing operations: $1.40 - $1.45 per share (diluted), up from $1.35 - $1.40 per share (diluted)
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