YAVNE, ISRAEL -- Orbotech today reported second-quarter revenue rose 7.5% to $210.7 million for the period ended June 30, topping analysts' forecasts.
The AOI maker reported net income of $25 million, up from $13.3 million a year ago.
Revenues from the company's printed circuit board business were $82.5 million, including $51.1 million in equipment sales, in the quarter, versus $72.6 million ($43.8 million from equipment sales) in the second quarter 2016.
The firm guided for second-half revenue of $460 million to $480 million, split about evenly between the third and the fourth quarters.
Commenting on the results, chief executive officer Asher Levy said: "We are very pleased to report robust financial results for the second quarter of 2017. Each of our operating divisions performed strongly and we achieved overall record quarterly bookings. While these results certainly echo the current favorable industry conditions, they are also the fruit of the company's steady and selective investment in research and development over the long-term, and reflect the technological leadership which our solutions offer in the highly competitive industries that we serve. New and emerging growth opportunities in areas such as advanced smartphones, automotive and flat panel displays, mean that our total addressable market continues to expand. Our strong backlog and order book reinforce our belief that we will meet our execution plans for 2017."
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