Camtek Announces Record First Quarter 2017 Results

MIGDAL HAEMEK, Israel, May 9, 2017 -- Camtek Ltd. (NASDAQ: CAMT; TASE: CAMT), today announced its financial results for the quarter ended March 31, 2017.

Highlights of the First Quarter 2017

  • Revenues of $30.8 million, ahead of guidance and a 26% year-over-year increase;
  • GAAP operating income of $3.9 million (12.6% margin); non-GAAP operating income of $4.0 million (13.0% margin);
  • GAAP net income of $3.3 million; non-GAAP net income of $3.4 million;
  • Strong operating cash flow of $5.9 million;
  • Second quarter revenue guidance of $33-34 million represents 23% year-over-year growth at the mid-point;

Rafi Amit, Camtek's CEO, commented, "This is an excellent start to 2017, which demonstrates we are executing well on our strategy and plans. Our results mark the best quarter in our history from the revenue standpoint, with exceptionally strong cash flow and a multi-year high in margins. Our solid performance was driven by strength across all our business parts, and the advanced packaging market in particular that remains one of the fastest growing segments of the semiconductor capital equipment space."

Added Mr. Amit, "Looking ahead, our business environment remains very positive. The outlook for the second quarter is for continued growth with revenues between $33-34 million. All signs point to another year of strong performance for Camtek."