Camtek reports preliminary information on expected revenues for the Q4
Dec 22, 2006
Camtek Ltd. (Nasdaq: CAMT; TASE: CAMT) reported that it expects to report revenues for fourth quarter of 2006 between $19 and $21 million. The revenues for the fourth quarter are expected to be lower than anticipated due to lower revenues in the semiconductor segment.
Camtek will report its financial results for the fourth quarter and full year of 2006 in mid February 2007.
Rafi Amit, Camtek's CEO, commented: "Our fourth quarter decline in anticipated revenues is a result of lower than expected sales in our semiconductor business, which is characterized by a small number of orders , each of substantial size. After a year of exceptional growth in semiconductor capacity, we encountered a situation where a few of our customers delayed their purchasing decisions, while a few others requested to defer delivery of their orders to subsequent quarters. We believe this lower revenue level in our semiconductor business is not indicative of the upcoming quarters. Nevertheless we are taking precautionary steps to ensure that we maintain our profitability in the coming quarters. This includes a tight monitoring of our expense levels such as a temporary freeze of hiring activities."
Mr. Amit continued, "2006 has still been a very good year for us and the strongest in our history from a revenue and profitability point of view. Despite our revised guidance range for the fourth quarter, we exceeded our original expectations by a wide margin. Our growth in revenues has been about 60% over that of last year."