Camtek Ltd

Latest Results (13.06.2024):

First Quarter 2024 Revenue Growth

Camtek Ltd. reported a significant increase in revenues for the first quarter of 2024, totaling $97.0 million. This represents a 34% year-over-year growth compared to the first quarter of 2023, which had revenues of $72.5 million. The substantial revenue increase highlights strong market demand and operational excellence.

Profitability Enhancement in Q1 2024

In the first quarter of 2024, Camtek Ltd. achieved a GAAP net income of $24.8 million, marking a 21% increase from $17.2 million in the same quarter the previous year. The non-GAAP net income saw an even more impressive rise, reaching $31.3 million, up 53% from $20.4 million in the first quarter of 2023.

Operating Performance

Camtek Ltd.'s operating income on a GAAP basis for the first quarter of 2024 was $21.2 million, which is a 50% increase from the $14.2 million reported in the first quarter of 2023. The non-GAAP operating income was $29.0 million, up 67% from $17.4 million, reflecting improved operational efficiency and profitability.

Q2 2024 Revenue Outlook

Looking ahead, Camtek Ltd. anticipates revenues for the second quarter of 2024 to be between $100-102 million, which would represent a mid-point increase of 37% compared to the second quarter of 2023. This forecast is supported by strong order flow and visibility into future demand.

Liquidity and Cash Flow

As of March 31, 2024, Camtek Ltd. maintained a robust financial position with cash and cash equivalents, short-term and long-term deposits, and marketable securities totaling $466.3 million, an increase from $448.6 million at the end of 2023. The company also reported a strong positive operating cash flow of $20.2 million during the first quarter.