YAVNE, ISRAEL – Orbotech’s printed circuit board business posted third quarter revenues of $64.2 million, down 10.5% year-over-year. The figure includes $34.5 million in equipment sales, a decrease of 16.7% compared to the same period in 2014.

Orbotech posted total revenues for the period ended Sept. 30 of $190.5 million, up 13.9% year-over-year. GAAP net income was $15.9 million, up 115% compared to the same period last year.

“We remain committed to innovation, as evidenced by today’s announcement of the launch of two products designed for printed circuit board solder mask production,” said CEO Asher Levy. “The company’s results for the third quarter and year-to-date clearly demonstrate the strength of our business model, which enjoys healthy diversification across businesses, industries, product lines and geographies.”

Revenues from the firm’s semiconductor device business were $70.2 million, up 31.7% year-over-year. Equipment sales for the sector were $58.4 million in the third quarter, compared to $45.6 million last year.

The company’s flat panel display business reported revenues of $48.5 million for the quarter, up 39% year-over-year. This includes equipment sales of $38.6 million, compared to $26.7 million in the third quarter of 2014.

Orbotech’s total revenues for the first nine months of 2015 were $564.3 million, up 46.5% year-over-year. GAAP net income was $40.7 million, an increase of 83% compared to the same period in 2014.

The firm expects fourth quarter and full-year 2015 revenues in the range of $184 million to $192 million and $748 million to $756 million, respectively.

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