Camtek Ltd (CAMT) Reports In-Line Q4 EPS, Beats on Revenues; Offers 1Q Revenue Outlook Above Consensus

Camtek Ltd (NASDAQ: CAMT) reported Q4 EPS of $0.10, in-line with the analyst estimate of $0.10. Revenue for the quarter came in at $25.8 million versus the consensus estimate of $24.5 million.

Highlights of the fourth quarter 2017

• Net income on a GAAP basis in the quarter totaled $3.3 million, or $0.09 per diluted share compared to net income of $0.8 million, or $0.02 per diluted share in the fourth quarter 2016.
• Net income on a non-GAAP basis in the quarter totaled $3.5 million, or $0.10 per diluted share, compared to non-GAAP net income of $0.9 million, or $0.02 per diluted share, in the fourth quarter 2016.
• Semiconductor revenues were $25.8 million, up 20% year-over-year, ahead of the upper end of the previously issued guidance range and a record for the semiconductor segment;
• GAAP operating income of $3.7 million, representing 14.3% operating margins; non-GAAP operating income of $3.8 million, representing 14.8% operating margins
• GAAP net income from continued operations of $3.3 million; non-GAAP net income of $3.5 million; up 333% and 303% year-over-year, respectively;
• First quarter revenue guidance of $26-27 million, represents approximately 25% year-over-year growth

Highlights of the full year 2017

Semiconductors revenues of $93.5 million; 18% year over year increase;
GAAP operating loss of $3 million; non-GAAP operating income of $10.4 million;
GAAP net income from continued operations of $1.7 million; non-GAAP net income of $9.6 million;
Year-end net cash balance of $43.7 million;

Forward Looking Guidance

• First quarter 2018 revenues are expected to be between $26-27 million, representing a year-over-year increase of approximately 25%. The Company expects continued double-digit growth in revenues in 2018, with overall improvement in non-GAAP operating margins.

GUIDANCE:

Camtek Ltd sees Q1 2018 revenue of $26-27 million, versus the consensus of $25.2 million.

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

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