YAVNE, ISRAEL -- Orbotech today reported third-quarter revenues slipped 1.8% sequentially and 2.6% year-over-year, respectively, to $92.3 million.

Fir the period ended Sept. 30, the company reported a net loss of $5.5 million, down from a second-quarter net loss of $1.2 million, and up from a $43.1 million net loss last year.

Non-GAAP net income was $1.1 million, up 37.5% year-over-year. The results included an impairment charge of $38.5 million ($32.5 million net of taxes) relating to a writedown of substantially all the goodwill and IP of Orbotech Medical Denmark, an impairment charge of $5.4 million relating to a writeoff of the then-remaining goodwill of the company’s now-sold assembly AOI businessm and a restructuring charge of $3.7 million.

Sales of PWB equipment were $20.3 million, up 17.7% from the second quarter and down 33% from a year ago. The company said that, during the third quarter, many PCB manufacturing customers, primarily in Asia, were reporting plant utilization rates at over 80% capacity, driven mainly by communications, consumer and computer-related products.

President and chief executive Rani Cohen said, “Business conditions are generally continuing to improve and the industries that we serve are beginning to revert to investment mode."

• Prev
• Next