MIGDAL HAEMEK, ISRAEL – Camtek reported third-quarter record revenue of $29.7 million, up 3% sequentially and up 24% year-over-year.

Revenue came in came in slightly ahead of the top-end of the previously-announced guidance range of between $27.5 million and $29.5 million.

Net income on a GAAP basis totaled $2.6 million, up 30% year-over-year.

“As we move through the fourth quarter, it is clear that the pace of business is slower and visibility in the short-term is also very limited. Similar to our industry peers, the current global macro-economic concerns are weighing on customers' spending patterns. At the same time, the increasing sales and market traction of our new products, which are in the early penetration and growth phase, are showing continued strength. Taking these factors into account, for the fourth quarter we expect revenues in the range of $22 million to $24 million. This implies that we will report record full-year revenues in excess of $107 million, representing substantial
growth of approximately 25% over last year,” said CEO Roy Porat.

Camtek also announced the appointment of Moshe Eisenberg as chief financial officer.

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