YAVNE, ISRAEL -- Orbotech today announced fourth quarter sales at its electronics segment were $39.6 million, down 12.6% from a year ago. 

Overall revenues for the quarter ended Dec. 31 were $197.5 million, bringing the full-year revenues to $582.7 million, up 7.3% from 2013. 

GAAP net income for the quarter was $13.1 million, up from $12.6 million in 2013.  Net income for the year was $35.4 million, down from $40 million, due to increased finance expenses associated with the $300 million of debt incurred to finance the acquisition of SPTS in August 2014, an increase in amortization of intangible assets and other acquisition-related expenses.

Commenting on the results, chief executive Asher Levy said, "While we faced softness in the PCB industry, we enjoyed strong growth in our (flat panel display) business and a substantial contribution from the accretive acquisition of (its semiconductor business).

The company expects first quarter revenue of $180 million to $185 million and gross margin of 43% to 44%.  

• Prev
• Next