Orbotech Reports Q2 Revenues Up 11.2% | Print |  E-mail
Written by Chelsey Drysdale   
Thursday, 01 August 2013 15:56

YAVNE, ISRAELOrbotech posted revenues for the second quarter of $108.8 million, up 11.2% year-over-year, and up 13.9% sequentially. GAAP net income was $10.5 million, compared to a GAAP net loss of $800,000 in the prior-year quarter, and up 110% sequentially.

The company’s AOI and LDI sales of equipment for printed circuit board fabrication were $51.1 million in the second quarter, up 9.4% year-over-year.

“Solid consumer demand for sophisticated electronic devices continues to give us grounds for a certain amount of cautious optimism. In the FPD industry we are seeing increased activity as our customers solidify their future investment plans, particularly in China. We believe that in all areas our product development roadmap is successfully addressing the increasingly demanding requirements of our customers, by consistently providing them with innovative and state-of-the-art solutions. At the same time, we are continuing to pursue additional opportunities within the electronic component manufacturing and other adjacent industries,” said CEO Asher Levy.

Revenues for the first six months of 2013 totaled $204.3 million, up 5.1% year-over-year.

GAAP net income for the first six months was $15.5 million, compared to GAAP net income of $800,000 in the first six months of 2012.

Sales of equipment to the FPD industry were $20.2 million for the quarter, up 64.2% compared to the second quarter of 2012.

 

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