Camtek Ltd (NASDAQ: CAMT) reported Q3 EPS of $0.18, in-line with the analyst estimate of $0.18. Revenue for the quarter came in at $40.1 million versus the consensus estimate of $38.67 million.

Highlights of the Third Quarter 2020

• Revenues were a quarterly record at $40.1 million, up 23% year-over-year;
• GAAP gross margin at 48.5%; Non-GAAP gross margin at 48.8%;
• GAAP operating income was $6.3 million and non-GAAP operating income was $7.6 million, representing margins of 15.8% and 19.0%, respectively;
• GAAP net income of $6.0 million, or $0.15 per diluted share, non-GAAP net income of $7.3 million, or $0.18 per diluted share; and
• Operating cash flow of $5.0 million, with $106.0 million in net cash and short-term deposits at quarter-end.

Management Comment

Rafi Amit, Camtek's CEO commented, "Camtek's third quarter results reflect continued momentum for our products, from existing and new customers.

We are benefitting from increased demand for our products, particularly in the advanced packaging, CMOS Image Sensor and RF devices. In addition, we are expanding our presence in the Front-End, mainly for Macro Inspection applications. This significantly increases our total available market."

Continued Mr. Amit, "We continue to collaborate with the leading IDM's to develop metrology and inspection solutions for the next generations of Advanced Packaging. We expect these applications to become meaningful to our business. The market drivers, the performance of our systems, our increasing market presence and our customers satisfaction give us a sense of optimism towards 2021."

For earnings history and earnings-related data on Camtek Ltd (CAMT) click here.