BOSTON (Thomson Financial) - Shares of Orbotech Ltd. hit a 52-week low
Monday after the Yavne, Israel-based company reported third-quarter net income
of $400,000, or 1 cent a share, including $1.4 million of share-based
compensation expenses, falling short of the mean earnings estimate of analysts
polled by Thomson Financial of 13 cents a share.
Orbotech, a production support developer in the supply chain of electronics,
said third-quarter revenue fell 7% to $82.3 million, below Wall Street's
consensus estimate of $87.4 million. A year ago, Orbotech posted revenue of
$88.6 million.
Shares fell 13.6% to $18.19 on volume of 73,000. The issue's 30-day average
is 55,500. The stock fell to as low as $15.83.
The stock closed Friday down 17% year-to-date.
Greg Saulnier
gs/jw
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