MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Camtek Ltd. (CAMT) on Tuesday reported first-quarter earnings of $31.6 million.
On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 63 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 70 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The maker of automatic optical inspection and process enhancement systems posted revenue of $121.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $120.1 million.
For the current quarter ending in June, Camtek said it expects revenue in the range of $129 million to $131 million.
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