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SMT & Inspection | November 10, 2006

Camtek's revenues up 48%

Camtek Ltd. today announced financial results for the third quarter ended September 30, 2006.
Revenues for the third quarter of 2006 were $26.3 million, 48% above $17.7 million in the third quarter of 2005, and sequentially 6% below the $27.9 million reported in the second quarter of 2006.
Gross profit margin for the third quarter of 2006 was 53.2%, compared to 48.5% for the third quarter of 2005, and 54.6% for the second quarter of 2006.

The Company reported third quarter net income of $4.2 million, or $0.13 per diluted share, compared to a net income of $1.5 million, or $0.06 per diluted share, in the third quarter of last year, and $5.2 million, or $0.17 per diluted share, in the second quarter of 2006.

"We are excited about our further progress toward achieving our revenue goal for this year," commented Rafi Amit, Camtek's CEO. "This quarter's results reaffirm that we are well poised to achieve that ambitious target. Based on our current view of our markets, we expect revenues in the next quarter to come within 5% of the third quarter revenue level, bringing Camtek's expected annual growth to 65%-70% over 2005 revenues. Furthermore, we have supported the expansion of our organization without sacrificing our profitability."

Mr. Amit continued, "Sales of Falcon, our wafer inspection systems for the semiconductor manufacturing and packaging industries, continued to be strong, with repeat orders from key customers and multiple orders from Asian facilities. We also added new strategic customers such as Samsung Electro Mechanics of Korea. We believe that the same factors that catapulted the Falcon sales in the past two years will continue to drive it ahead in the foreseeable future. To maintain and expand our competitive edge, we enhanced the Falcon's 3D capabilities, advancing our leadership position in the bumped wafer 3D metrology market. We also augmented the Falcon's compatibility with factory automation environment with the successful implementation of the SECS/GEM communication protocols, which opens the door to new customers."

"In the PCB and HDI-S inspection arena, we are planning to launch several new products in the coming months. These new products approach new segments and maintain our technology leadership position. One new Pegasus model is currently undergoing customers' evaluations with promising results. We anticipate the contribution of these products to our revenues in the coming quarters," concluded Mr. Amit.

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