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Camtek Swings to Q3 Profit

Published: 04 November 2010
 by Staff

MIGDAL HAEMEK, ISRAEL -- Inspection equipment maker Camtek swung to third-quarter profit of $2 million as demand improved across the board.

For the quarter ended Sept. 30, the AOI OEM said revenues rose 65% year-over-year to of $23.9 million. Revenues grew 15% sequentially, representing the sixth quarter of continued sequential growth, on continued increase in customer demand due to improving market conditions as well as penetration into new customers and new product sales.

Last year, Camtek reported a net loss of $300,000.

The GAAP operating income was $2.3 million. Gross profit was $10.9 million, compared to $6.1 million in the third quarter of 2009. GAAP operating income was $2.3 million, up from a loss of $179,000.

Camtek guided for December quarter sales of $22 million to $25 million.

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