MIGDAL HAEMEK, ISRAEL – Camtek reported fourth quarter 2015 revenues of $25.8 million, up 25% year-over-year.

Net loss on a GAAP basis totaled $11.8 million, compared to net income of $68,000 in the fourth quarter of 2014.

Operating loss on a GAAP basis for the quarter ended Dec. 31 was $14.1 million (54.6% of revenues). This compares to an operating income of $360,000 (1.7% of revenues) in the fourth quarter of 2014.

During the fourth quarter Camtek recorded a provision of $14.6 million in conjunction with the final court ruling on Feb. 3 in its appeal in the patent infringement case of Rudolph Technologies regarding the Falcon system sold in the United States until 2010.

"Our revenue is at a four-year high, mainly driven by growth in the semiconductor market, particularly the advanced packaging segment, as well as other growing segments such as CMOS Image Sensors and MEMS,” said Rafi Amit, Camtek's chairman and CEO. "Looking ahead to 2016, we expect continued double-digit revenue growth in our semiconductor business, driven by increased capex spending by many of our customers. For the first quarter of 2016, we expect revenues of around $24 to $25 million, representing year-over-year growth at the midpoint of 13%."

Revenues for 2015 were $99.3 million, an increase of 12% compared to 2014.

Net loss on a GAAP basis for the year was $10.1 million, compared to net income of $3.3 million in 2014. Gross profit on a GAAP basis was $43.1 million (43.4% of revenues) compared to gross profit of $41 million (46.4% of revenues) in 2014.

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