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SMT & Inspection | August 07, 2006

Camtek achieved record revenues

Camtek Ltd., today announced record results for the second quarter ended June 30, 2006. Record Gross Profit of $15.2 million and Record Net Income of $5.2 million, with $0.17 EPS.
Revenues for the second quarter of 2006 were $27.9 million, 67% above $16.8 million in the second quarter of 2005, and up 12% sequentially from $24.9 million reported in the first quarter of 2006.
Gross profit margin for the second quarter of 2006 was 54.6%, compared to 49.7% for the second quarter of 2005, and 52.5% for the first quarter of 2006.

The Company reported second quarter net income of $5.2 million, or $0.17 per diluted share, compared to a net income of $1.5 million, or $0.05 per diluted share, in the second quarter of last year, and $4.4 million, or $0.16 per diluted share, in the first quarter of 2006.

Rafi Amit, Camtek's CEO, commented: “Camtek's operational and financial performance excelled this quarter. We continued building our strong position in the semiconductor manufacturing and packaging industry as our revenues from this industry reached $13 million and contributed 47% of our total revenues. We continue to see the same level of activity as last quarter in the PCB and HDI-S markets, which contributed $14.9 million to our revenues.”

Mr. Amit continued, “In parallel to our activities of supporting our growth, we have been developing new capabilities for all our served markets. We will announce a few of these capabilities in the near future.”

Mrs. Ronit Dulberg, Camtek's CFO, added, “We are very pleased to have achieved the targets we have set for ourselves in terms of revenues, margins and profitability, which are the highest quarterly results we have ever recorded . It is worth noting that while we have been investing significant resources in expanding the organization, we were still able to record a positive operating cash flow of $3.4 million since the beginning of the year.”

Mr. Amit concluded, “Given our performance in the first half of the year, our current activity level and the signals we are receiving from our marketplaces, we feel comfortable with our previously updated guidance of $100-110 million revenues for the year. At this point we can estimate our third quarter revenues at the range of $26-30 million”.
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