CAMTEK ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS
MIGDAL HAEMEK, Israel – May 19, 2009 – Camtek Ltd. (NASDAQ and TASE: CAMT), today announced its financial results for the
first quarter ended March 31, 2009.
Revenues for the first quarter of 2009 amounted to $9.3 million, compared to $21.3 million in the first quarter of 2008 and
$12.4 million in the fourth quarter of 2008. Camtek’s revenues continue to be affected by the global recession.
Gross profit margin for the first quarter of 2009 was 37%, compared to 44.5% in the first quarter of 2008 and 24% in the
fourth quarter of 2008.
Operating loss for the first quarter of 2009 amounted to $5.0 million compared to an operating income of $0.1 million in
the first quarter of 2008 and an operating loss of $5.6 million in the fourth quarter of 2008.
Net loss for the first quarter of 2009 amounted to $5.5 million, or $0.19 per share, compared to a net income of $0.5 million
, or $0.02 per share, in the first quarter of 2008 and a net loss of $5.5 million, or $0.19 per share in the fourth quarter
of 2008. Net loss for the quarter was influenced by the considerably lower revenues and legal expenses in a sum of approximately $2.0 million.
Net, cash and cash equivalents at March 31, 2009, totaled $11.4 million, compared to $14.4 million at the end of December 31,
“The efficiency measures implemented both in previous and during the current quarter enabled us to reduce operating expenses
this quarter, with savings becoming more evident in the coming quarters. These savings were offset by an approximately
$2 million of legal expenses recorded this quarter. While we are only half way through the second quarter, we estimate that
revenues in the second quarter will be higher than those of the first quarter. ” said Rafi Amit, Camtek’s CEO. “We are
operating in a highly volatile environment with our markets continuing to be deeply impacted by the global crisis. However,
we believe that Camtek, with its leading product portfolio, strong customer base and leaner expense structure, will emerge
stronger and more profitable company.”
Camtek will host a conference call today, May 19, at 10:00 am EDT. Roy Porat, General Manager Camtek Israel and
Mira Rosenzweig, Chief Financial Officer will host the call and will be available to answer questions after presenting
To participate, please call one of the following telephone numbers at least 10 minutes before the start of the call,
referencing the “Camtek first quarter 2009 results conference call”.
US: 1 888 723 3163 at 10:00 am Eastern Time
Israel: 03 918 0691 at 5:00 pm Israel Time
International: +972 3 918 0691
For those unable to participate, the teleconference will be available for replay on Camtek’s website
at http://www.camtek.co.il/ beginning 24 hours after the call.
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
Mira Rosenzweig CFO
Fax: +972-4-604 8300
GK International IR
Ehud Helft / Kenny Green
Tel: (US) 1 646 201 9246
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.