MIGDAL HAEMEK, ISRAEL – Camtek posted fourth quarter revenues of $29.3 million, up 14% year-over-year and 3% sequentially.

GAAP net income was $2.3 million for the period ended Dec. 31, compared to a net loss of $11.8 million in the fourth quarter 2015. GAAP operating profit totaled $2.8 million, 9.7% of revenues, compared to an operating loss of $14.1 million in the prior year quarter.

"Our ongoing performance is being driven primarily by strong performance of our semiconductor business and in particular by systems for the advanced packaging market,” said Rafi Amit, Camtek's Chairman and CEO. "Looking ahead, our business environment remains strong, and we have seen a robust start to 2017. All signs point to another year of solid growth for Camtek, driven by continued double-digit growth of our semiconductor business. "

The firm recorded 2016 revenues of $109.5 million, an increase of 10% year-over-year.

GAAP net income for the year was $4.7 million, compared to a net loss of $10.1 million in 2015. GAAP operating income was $6.6 million, 6% of revenues, compared to a loss of $10.1 million in the previous year.

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