Orbotech Ltd (ORBK) Tops Q4 EPS by 1c, Slight Beat on Revenues; Offers 1Q18 Revenue Mid-Point Outlook Above Consensus

Orbotech Ltd (NASDAQ: ORBK) reported Q4 EPS of $0.87, $0.01 better than the analyst estimate of $0.86. Revenue for the quarter came in at $256.9 million versus the consensus estimate of $254.29 million.

2017 fourth quarter highlights

• Record revenues of $256.9 million
• Gross margin of 47.3%
• Cash flow from operations of $84.3 million
• GAAP EPS of $1.14 (diluted) reflecting the tax benefit resulting from a valuation allowance release; non-GAAP EPS of $0.87 (diluted)

2017 full year highlights compared with 2016 full year

• Record revenues of $900.9 million, up 11.7%, compared with $806.4 million
• Gross margin of 47.2%, up from 46.2%
• Cash flow from operations of $130 million, compared with $108 million
• GAAP EPS of $2.71 (diluted) reflecting the tax benefit resulting from a valuation allowance release, up 58% from $1.71 (diluted)
• Non-GAAP EPS of $2.91 (diluted), up 15% from $2.52 (diluted)

2018 guidance

• First quarter 2018 revenue range: $235 million to $250 million; gross margin range: 47.0%-47.5%
• First half 2018 revenue of approximately $500 million; gross margin range: 47.5%-48%
• Full year 2018 revenue growth of 12%-14%, compared to 2017

GUIDANCE:

Orbotech Ltd sees Q1 2018 revenue of $235-250 million, versus the consensus of $236.18 million.

For earnings history and earnings-related data on Orbotech Ltd (ORBK) click here.

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