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Camtek Posts 34% Revenue Increase in 2Q09
August 12, 2009 | PR NewswireEstimated reading time: 1 minute
Camtek Ltd. has announced its financial results for the second quarter ended June 30, 2009. Revenues for the second quarter of 2009 increased 34% to $12.5 million, compared to $9.3 million in the first quarter of 2009. Revenues in the second quarter last year totaled $22.7 million.
Gross profit for the second quarter totaled $4.2 million, a 21% increase compared to the $3.5 million gross profit in the first quarter of 2009. Gross profit for the second quarter of 2008 totaled $8.8 million. Gross margin for the second quarter of 2009 totaled 34%, compared to 37% in the first quarter of 2009 and 38.9% in the second quarter of 2008.
Operating loss for the second quarter of 2009 totaled $2.1 million, compared to the $5.0 million operating loss in the prior quarter. Operating loss in the second quarter 2008 totaled $0.5 million.
Net loss for the second quarter of 2009 totaled $2.1 million, or $0.07 per share, compared to $5.5 million, or $0.19 per share in the prior quarter. Net loss for the second quarter last year totaled $0.5 million, or $0.02 per share.
Cash and cash equivalents at June 30, 2009, totaled $12.0 million compared to $11.4 million at the end of March 31, 2009 and $14.4 million net, at the end of December 31, 2008.
"During the second quarter we recognized a sequential increase in revenues and gross profit, while narrowing both our operating and net loss. Furthermore, we managed our cash resources, through prudent expense management, directly attributed to the deep restructuring measures implemented during the first quarter," said Rafi Amit, Camtek's CEO. "Looking ahead, despite the tough business environment we operate in, we continue to invest in R&D, in order to improve performances of our current product lines, as well as to develop new products. We estimate that revenues in the third quarter will be slightly higher than those of the second quarter."
About Camtek Ltd.
With headquarters in Migdal Ha'Emek Israel, Camtek Ltd., designs, develops, manufactures and markets automatic optical inspection systems and related products. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. For more information, visit http://www.camtek.co.il/.