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Orbotech Reports Q1 Revenues Up 14.3% YoY |
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Written by Chelsey Drysdale
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Monday, 12 May 2008 |
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YAVNE, ISRAEL – Orbotech Ltd. reported revenues for the first quarter totaled $100.5 million, up 14.3% year-over-year, and down about 3% sequentially.
Net income was $3.7 million, compared to a net loss of $1.1 million in the fourth quarter, and net income of $5.6 million in the same period of 2007.
Sales of equipment to the PCB industry, relating to assembled PCBs, were $8.1 million, down 2.4% sequentially, and up 16% year-over-year.
CEO Rani Cohen said, “Our financial results for the quarter, particularly in our PCB business, reflect the challenging global economic environment. On the other hand, we continue to benefit from the strength in the LCD industry, which has led to large orders from LCD manufacturers. Given the ongoing weakness of the dollar, we are continuing to monitor our expenses very closely in order to maintain and improve margins.”
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