MIGDAL HAEMEK, ISRAEL -- Camtek's third-quarter revenues fell 20% from last year to $23.7 million.

Sales were down 5% sequentially, the AOI maker said.

Net income fell $200,000 from last year to $2.4 million for the period. GAAP operating income of $3.1 million, down from $4 million last year.

The company guided for fourth quarter revenues of $15 million to $18 million, and said it will take certain unspecified restructuring measures to lower its breakeven point.