CAMTEK REPORTS COST REDUCTION MEASURES
MIGDAL HA’EMEK, Israel, November 10, 2008 – Camtek Ltd. (Nasdaq: CAMT; TASE: CAMT) announced today that it has implemented
a cost reduction plan, one element of which involves reducing its global work force by about 55 employees. This reduction
represents about 12% of the Company’s total workforce.
"As a responsible organization we must act conservatively, monitor our business expenses and profitability and be prepared
for a business slowdown in light of the global economic turmoil”, said Rafi Amit, Camtek’s CEO. “We have preserved our R&D capabilities in order to position ourselves for the future recovery of our markets.”
On November 18, 2008, Camtek will report its financial results for the third quarter and nine months ended September 30, 2008.
ABOUT CAMTEK LTD.
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 industry, the high density interconnect substrate industry and
the semiconductor manufacturing and packaging industry. This press release is available at www.camtek.co.il.
This press release may contain projections or other forward-looking [state]ments regarding future events or the future
performance of the Company. These [state]ments are only predictions and may change as time passes. We do not assume any
obligation to update that information. Actual events or results may differ materially from those projected, including as a
result of changing industry and market trends, reduced demand for our products, the timely development of our new products
and their adoption by the market, increased competition in the industry, price reductions as well as due to risks identified
in the documents filed by the Company with the SEC.
CONTACT INFORMATION
CAMTEK:
Mira Rosenzweig, CFO
Tel: +972-4-604-8308
Fax: +972-4-604-8300
Mobile: +972-54-905-0703
[email protected]
IR INTERNATIONAL:
Ehud Helft/Kenny Green
GK Investor Relations
Tel: (US) 1 646 201 9246 [email protected]