YAVNE, ISRAEL – Orbotech expects third-quarter revenue of about $98 million, below expectations. Analysts most recently expected $118 million.

The firm also cut its guidance for 2102 to $400 million, down from previous estimates of $430 million to $450 million.

Orbotech attributes the cut to weaker printed circuit board equipment sales, and expects soft capital spending in the flat-panel display sector to continue into the first half of 2013.

In June, Orbotech had lowered its revenue guidance and withdrew its earnings outlook for the year amid charges filed by the South Korean government that alleged the company misused confidential customer information.

The company today said it would realign its infrastructure to reflect the weaker environment, but didn’t provide specific plans.

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