MIGDAL HAEMEK, ISRAEL – Camtek reported first-quarter revenue of $18.1 million, down less than 1% year-over-year, and up 3% sequentially.

Revenues were slightly ahead of the company's formerly issued guidance range of $16 million to $18 million for the quarter.

For the period ended Mar. 31, GAAP net loss was $900,000, compared to a net loss of $1.4 million in the first quarter of 2012, and compared to a net loss of $3.3 million in the prior quarter.

GAAP operating loss was $200,000, compared to an operating loss of $1.1 million in the first quarter of 2012, and compared to an operating loss of $5.4 million in the prior quarter.

Gross profit on a GAAP basis totaled $8.2 million (45.4% of revenues), up 7.5% year-over-year, and up 36.7% sequentially.

The firm expects second-quarter revenue of $21 million to $23 million.