Camtek Registers 16% Revenue Growth In Q3 Aided By Diversified Customers, Geographies

  • Camtek Ltd (NASDAQ: CAMT) reported third-quarter FY22 revenue growth of 16% year-on-year to $81.99 million, slightly missing the consensus of $82 million.

  • The non-GAAP gross margin contracted 190 bps to 49%.

  • The non-GAAP operating margin declined by 230 bps to 28.3%.

  • Non-GAAP EPS of $0.48 beat the consensus of $0.46.

  • The company held $392.3 million in cash and equivalents and generated $25.3 million in operating cash flow.

  • Rafi Amit, Camtek’s CEO, commented, “We had another record quarter and are providing positive guidance for the fourth quarter. In an increasingly complex environment, we are positioned to achieve a record year in 2022, supported by the company’s diversified customers, geographies, and various secular trends.”

  • Outlook: Camtek sees FY22 revenue of $320 million, below the consensus of $320.7 million.

  • CAMT expects fourth-quarter revenue to be similar to those of the third quarter.

  • Price Action: CAMT shares traded lower by 2.31% at $24.10 in the premarket on the last check Thursday.

  • Photo Via Company

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Source: https://finance.yahoo.com/news/camtek-registers-16-revenue-growth-142842051.html