YAVNE, Israel -- Aug. 2 -- Orbotech today reported second-quarter sales of $77.5 million, up 15% sequentially and 42% from a year ago.

Net income was $8.6 million, vs. $5.1 million last quarter and $1.2 million last year.

First-half revenues were up 33% to $144.7 million and net income rose 491% to $13.6 million.

PCB equipment sales were $29.4 million, up from $23.2 million sequentially and $18.5 million last year. Sales of assembly equipment were $8.8 million, up from $6.6 million in the first quarter and $6.1 million a year ago.

Cash and equivalents increased $14 million to $166 million during the quarter.

"Our confidence in the long-term growth prospects of these industries continues to be high," said CEO Yochai Richter in a press statement.