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Orbotech Sets Revenue Record

Published: 02 August 2010
 by Staff

YAVNE, ISRAEL -- Orbotech set a revenue record in its June quarter and upped its full-year guidance by about 9%.

The inspection equipment maker reported net income of $12.4 million, up from $1.6 million sequentially and a net loss of $1.2 million in 2009. Revenues of $147.3 million were up 43% from the first quarter and 57% year-over-year on higher demand for printed circuit board and flat panel display inspection gear.

The company upped revenue guidance for the full year from a range of $460 million to $470 million to a new range of $500 million to $510 million.

Sales of equipment to the PCB industry were $41.4 million in the quarter, up 202% year-over-year.

The company ended the quarter with cash, cash equivalents and marketable securities of approximately $163 million, down $6 million sequentially, and $144 million in debt, down $8 million.

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