CAMTEK ANNOUNCES THIRD QUARTER 2014 RESULTS
MIGDAL HAEMEK, Israel – October 29, 2014– Camtek Ltd. (NASDAQ and TASE: CAMT), today announced its financial results for the quarter ended September 30, 2014.
Highlights of the Third Quarter of 2014
- Revenues of $22.4 million;
- Non-GAAP and GAAP operating income of $1.1 million and $1.0 million, respectively, representing 5.1% and 4.6% of revenues, respectively;
- Non-GAAP net income of $0.9 million; GAAP net income of $0.6 million;
- Camtek opened a Gryphon demonstration center for potential customers, based in Orange County, California; and
- Positive market feedback for Camtek’s new semiconductor product line, Eagle, focused on advanced packaging; installed first systems at major semiconductor manufacturers.
Rafi Amit, Camtek’s Chairman and CEO, commented, “Strategically the third quarter was very important for us and sets the stage for 2015. We opened a demonstration center for the Gryphon, our 3D Functional InkJet Technology system for PCB solder mask applications, at which potential customers can see the system in action. This will support our efforts to capitalize on the industry interest we are seeing in this product. We remain on track and expect initial commercial Gryphon installations to begin in the fourth quarter, with revenues expected in 2015.
“Additionally, our semiconductor systemsachieved qualification at leading semiconductor manufacturers, some of which we had not significantly penetrated in the past. These are large vendors that are getting ready to ramp up with their new manufacturing facilities and their capabilities. As the demand for their products picks up we expect to see the potential for getting multiple orders and selling significant quantities of tools.”
Concluded Mr. Amit, “For the fourth quarter, we expect revenues of around $20.5-$22.5 million. Looking further out to 2015, we believe the tailwinds are in place for solid year-over-year growth in both revenue and profit.”