First Quarter Revenues Expected to be Approximately $14 Million
MIGDAL HA'EMEK, Israel, April 10 /PRNewswire-FirstCall/ -- Camtek Ltd. (NASDAQ:CAMT)(TASE:CAMT) reported today that it expects to report revenues for first quarter of 2007 of approximately $14 million. The exact amount of revenues is subject to final adjustment and review by the Company's auditors.
Rafi Amit, Camtek's CEO, commented: "One of the main reasons to our shortfall of revenues to the PCB market was a longer than anticipated sales process into China following the Chinese New Year holidays, which were late this year. This pushed a number of sales to the end of the quarter, and we were not able to achieve all the needed criteria to recognize revenues within the quarter. Orders of semiconductor systems were also delayed, which added to the revenue shortfall.
As we previously reported, we believe that, based on inputs from our customers, we see a shift in the PCB market and expect an increased demand for our products in the second quarter of 2007 and a further increase in demand for our semiconductor products in the second half of the year." Camtek will be pleased to host a conference call tomorrow, Wednesday, April 11, 2007 at 8:00 a.m. EDT. Rafi Amit, Chief Executive Officer and Ronit Dulberg, Chief Financial Officer will be on the call and will be available to answer investors' questions.
To participate, please call one of the telephone numbers below at least 5 minutes before the start of the call.
US: 1-866-527-8676 or 1-888-668-9141 at 8:00 a.m. EDT
Israel: 03-918-0609 at 3:00 p.m. IL time
International: +972-3-918-0609
For those unable to participate, the teleconference will be available for replay for 14 days on Camtek's website at http://www.camtek.co.il/ beginning 48 hours after the call.
ABOUT CAMTEK LTD.
With headquarters in Migdal Ha'Emek Israel, Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. This press release is available at http://www.camtek.co.il/.
CAMTEK: IR/PR ISRAEL IR INTERNATIONAL Ronit Dulberg, CFO Financial Communication Ehud Helft / Kenny Green
GK International
Tel: +972-4-604-8308 Noam Yellin Tel: (US) 1-866-704-6710
Fax: +972-4-604 8300
Mobile: +972-5-469-4902 Tel: +972-3-6954333
Fax: +972-544-246720
This press release may contain projections or other forward-looking statements regarding future events or the future performance of the Company. These statements are only predictions and may change as time passes. We do not assume any obligation to update that information. Actual events or results may differ materially from those projected, including as a result of changing industry and market trends, reduced demand for our products, the timely development of our new products and their adoption by the market, increased competition in the industry, price reductions as well as due to risks identified in the documents filed by the Company with the SEC. DATASOURCE: Camtek Ltd CONTACT: CAMTEK: Ronit Dulberg, CFO, Tel: +972-4-604-8308, Fax: +972-4-604 8300, Mobile: +972-5-469-4902, ; IR/PR ISRAEL, Financial Communication, Noam Yellin, Tel: +972-3-6954333, Fax: +972-544-246720; IR INTERNATIONAL, Ehud Helft / Kenny Green, GK International, Tel: (US) 1-866-704-6710 ,
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