The share price of Camtek Ltd. (Nasdaq: CAMT; TASE:CAMT) has risewn sharply after the company announced its second quarter results and that delivery of its 3D printer product will begin later this year.
The company's share price was up 24.7% in morning trading on Nasdaq to $4.28 giving a market cap of $130.3 million, after rising sharply on the TASE.
Camtek Chairman and CEO Rafi Amit said, "Our new product strategy is progressing well. With regard to the commercialization process of our 3D Functional Ink-Jet Technology product, Gryphon, our two beta sites have been ongoing for a few months and so far, we are happy with the results. The more we run the machine in a production environment, as well as meeting with potential customers, the more confident we become in our belief that Ink-Jet technology for solder-mask will be the dominant technology in the PCB industry for years to come. We remain on track and expect initial commercial Gryphon installations at customers to begin in the fourth quarter, with revenues expected in 2015."
He added, "Our other recently launched next-generation semiconductor inspection and metrology platform for the advanced packaging market, Eagle, is also gaining strong traction especially among leading OSATs. We look forward to unleashing and realizing the potential within our new products and expect them to increasingly contribute to our future revenues."
Amit said, "Our existing business continues to show solid performance, and overall Camtek is on track for a good year. In the third quarter, we expect revenues to remain around the same level as that of the second quarter."
Camtek's second quarter revenue was $23.2 million, up 4% from $22.3 million in the corresponding quarter of 2013. Non-GAAP net profit was $2.3 million ($0.08 per share), up from $1 million ($0.03 per share) in the corresponding quarter of 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2014
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