MIGDAL HAEMEK, ISRAEL -- Camtek reported second-quarter revenues rose 34.7% sequentially to $12.5 million, but down 44.7% year-over-year.

For the period ended June 30, gross profit was $4.2 million, up 21% sequentially, but down 52.2% from a year ago. The operating loss was $2.1 million, down 58% from 2008.

Cash and cash equivalents at the close of the quarter totaled $12 million, compared to $11.4 million at the end of the March quarter.

Revenues for the third quarter are expected to increase sequentially, the company said.