Orbotech's Q4 Net Falls on Flat Sales PDF Print E-mail
Written by Mike Buetow   
Tuesday, 19 February 2008 10:59
YAVNE, ISRAELOrbotech today reported fourth-quarter revenues of $103.6 million, flat with 2006. The net loss for the period ended Dec. 31 was $1.1 million, down from net income of $9.4 million a year ago.

The net loss includes an impairment charge of $4.7 million to write-down goodwill and intellectual property of Orbotech Medical Solutions Ltd.; restructuring charges of $500,000, $1.9 million of amortization of intangible assets from the acquisitions of 3 D - Danish Diagnostic Development A/S and New System during 2007, and $900,000 in share-based compensation expenses.

For the year, the inspection equipment maker reported revenues fell 13% to $360.7 million. Net income fell 97% to $1.5 million.

For the quarter, bare board equipment sales were $50 million, up from $40.8 million a year ago, on strong customer demand for LDI systems. Flat panel display inspection equipment sales were $10.6 million, down from $27.8 million. PCB assembly equipment sales were $8.3 million, down from $8.5 million. Service revenue increased to $25 million from $22.9 million a year ago.

Cash flow was up $10.5 million.
Last Updated on Tuesday, 19 February 2008 11:00


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