YAVNE, Israel -- Orbotech today reported third-quarter sales at its PCB electronics segment were $45.5 million, down 11% from the second quarter and up 12.9% from 2012. Overall revenue was up 18.6% to $113.4 million.

The net income was $11.9 million, up from a net loss of $45.7 million in the third quarter 2012, when the company took a non-cash impairment charge of $30 million related to its flat panel display business, plus inventory writedowns of $14.3 million and a $1.7 million charge in connection with litigation at its Korean operation.

Orbotech manufactures AOI and laser-direct imaging equipment for printed circuit board manufacture.

Sales of equipment to the FPD industry were $26.5 million in the quarter, up from $15.2 million a year ago.

Asher Levy, chief executive, said, “While revenues from our traditional PCB business were slightly lower than in the second quarter, we posted record quarterly revenues of more than $10 million in our electronics component manufacturing business. In the FPD industry, we are seeing increased activity as manufacturers solidify their investment plans, particularly in China.”

The initial trial in the criminal proceeding against the company’s Korean subsidiary and certain employees is in its final stage, Orbotech said. Company employees allegedly stole OLED secrets from customers LG and Samsung and sold them to BOE and others. A district court decision is currently expected by the end of November.

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