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SMT & Inspection | July 09, 2007

Orbotech updates second half forecast 2007

Orbotech Updates Second Half 2007 and Full Year 2008 FPD Equipment Revenues Forecast.
Orbotech is today updating its previous forecast regarding expected revenues from sales of flat panel display ("FPD") inspection equipment in 2007 and 2008.

In its first quarter 2007 results announcement the Company indicated that it expected a downturn in the highly cyclical FPD industry as a result of a pause in capital investment by FPD manufacturers. This downturn, which is expected to characterize 2007, is now estimated to be deeper than previously anticipated as LCD manufacturers delay the scheduled 'move in' dates for their new fabrication facilities to mid-2008. However, given the strong bookings which are anticipated in the second half of 2007, and the significant indications of a substantial upturn next year, the Company believes that there will be a strong rebound in FPD revenues in 2008. Orbotech currently expects revenues from the sales of FPD inspection equipment in 2007 to be approximately $50 million (which is approximately $35 million less than previously anticipated) of which $20 million will be recorded in the second half of 2007.

In order to continue to provide state-of-the-art solutions for LCD manufacturers, and in anticipation of the expected upturn in capital investments by LCD manufacturers, Orbotech continues to invest heavily in research and development and to explore possible external opportunities for expansion.
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