Camtek announces second quarter 2009 financial results

Circuit World

ISSN: 0305-6120

Article publication date: 20 November 2009

63

Citation

(2009), "Camtek announces second quarter 2009 financial results", Circuit World, Vol. 35 No. 4. https://doi.org/10.1108/cw.2009.21735dab.002

Publisher

:

Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited


Camtek announces second quarter 2009 financial results

Article Type: Industry news From: Circuit World, Volume 35, Issue 4

About 34 per cent sequential revenue increase from first quarter 2009; Substantially narrows operating and net loss compared to first quarter 2009.

Camtek Ltd have announced its financial results for the second quarter ended 30 June 2009. Revenues for the second quarter of 2009 increased 34 per cent to $12.5 million, compared to $9.3 million in the first quarter of 2009. Revenues in the second quarter last year totalled $22.7 million. Gross profit for the second quarter totalled $4.2 million, a 21 per cent increase compared to the $3.5 million gross profit in the first quarter of 2009. Gross profit for the second quarter of 2008 totalled $8.8 million. Gross margin for the second quarter of 2009 totalled 34 per cent, compared to 37 per cent in the first quarter of 2009 and 38.9 per cent in the second quarter of 2008.

Operating loss for the second quarter of 2009 totalled $2.1 million, compared to the $5.0 million operating loss in the prior quarter. Operating loss in the second quarter 2008 totalled $0.5 million.

Net loss for the second quarter of 2009 totalled $2.1 million, or $0.07 per share, compared to $5.5 million, or $0.19 per share in the prior quarter. Net loss for the second quarter last year totalled $0.5 million, or $0.02 per share.

Cash and cash equivalents at 30 June 2009, totalled $12.0 million compared to $11.4 million at the end of 31 March 2009 and $14.4 million net, at the end of 31 December 2008.

“During the second quarter we recognized a sequential increase in revenues and gross profit, while narrowing both our operating and net loss. Furthermore, we managed our cash resources, through prudent expense management, directly attributed to the deep restructuring measures implemented during the first quarter,” said Rafi Amit, Camtek's CEO. “Looking ahead, despite the tough business environment we operate in, we continue to invest in R&D, in order to improve performances of our current product lines, as well as to develop new products. We estimate that revenues in the third quarter will be slightly higher than those of the second quarter”.

With headquarters in Migdal Ha'Emek Israel, Camtek Ltd, designs, develops, manufactures and markets automatic optical inspection systems and related products. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board (PCB) industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry.

For further information, please visit the web site: www.camtek.co.il

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