2024

when

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<p class="has-drop-cap">Camtek Ltd. (NASDAQ: CAMT), a leading developer and manufacturer of inspection and metrology equipment for the semiconductor industry, <a aria-label="announced its financial results for the third quarter of 2024 (opens in a new tab)" href="https://www.prnewswire.com/news-releases/camtek-announces-results-for-the-third-quarter-of-2024-302302433.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">announced its financial results for the third quarter of 2024</a>, showcasing record-breaking performance metrics. The company reported revenues of $112.3 million, marking a 40% year-over-year increase compared to $80.5 million in the same quarter last year. This impressive growth underscores Camtek’s ability to capitalize on the booming <a href="https://tokenist.com/three-semiconductor-stocks-to-hold-as-the-market-rebounds/" rel="noopener noreferrer nofollow" class="deco-link">semiconductor market</a>, particularly in high-performance computing applications.</p>
<p>The company’s gross profit on a GAAP basis reached $55.9 million, representing 49.7% of revenues, up 43% from the previous year’s third quarter. On a non-GAAP basis, gross profit rose by 45% to $57.1 million, equating to 50.8% of revenues. Operating income also saw significant gains, with GAAP operating income at $29.6 million, a 56% increase from the prior year, and non-GAAP operating income at $34.2 million, up 54%. These results reflect Camtek’s operational efficiency and market demand for its advanced semiconductor inspection solutions.</p>
<p>Net income for the quarter was $32.7 million on a GAAP basis, translating to $0.67 per diluted share, a 48% rise from last year’s $22.1 million, or $0.46 <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">per diluted share</a>. On a non-GAAP basis, net income was $37.0 million, or $0.75 per diluted share, a 47% increase. The company’s strong cash flow generation was evident with an operating cash flow of $35.8 million, further solidifying its financial position with cash and equivalents totaling $488.7 million at the end of the quarter.</p>
<h3 id="camtek-reports-double-beat-in-third-quarter-2024">Camtek Reports Double Beat in Third Quarter 2024</h3>
<p>Camtek’s third-quarter results exceeded market expectations, which had anticipated an EPS of $0.6925 and revenue of $107.82 million. The actual EPS of $0.67 on a GAAP basis fell slightly short, but the non-GAAP EPS of $0.75 surpassed expectations, highlighting the company’s strong underlying performance when adjusted for non-recurring items. The reported revenues of $112.3 million significantly outpaced the forecast, underscoring Camtek’s robust market positioning and execution capabilities.</p>
<p>The company’s performance was buoyed by strong demand in the high-performance computing (HPC) segment, which Camtek’s CEO, Rafi Amit, identified as a key growth driver. The introduction of new products, such as the Eagle G5, contributed to the quarter’s success, with $20 million in orders already secured. This strategic product development and market alignment have enabled Camtek to outperform its revenue expectations by a substantial margin.</p>
<p>Camtek’s ability to exceed revenue projections is a testament to its strategic focus on high-growth segments within the semiconductor industry. The year-over-year revenue growth of 40% reflects both the company’s successful market penetration and the expanding demand for semiconductor inspection solutions. As Camtek continues to innovate and expand its product offerings, it is well-positioned to maintain its trajectory of exceeding market expectations.</p>
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<h3 id="camtek-expects-30-increase-y-y-for-fourth-quarter-2024">Camtek Expects 30% Increase y/y for Fourth Quarter 2024</h3>
<p>Camtek has provided optimistic guidance for the fourth quarter of 2024, projecting revenues of approximately $115 million. This forecast represents a 30% increase over the fourth quarter of 2023, indicating sustained momentum and confidence in the company’s growth strategy. The management anticipates sequential growth into the first quarter of 2025, driven by continued demand in the HPC segment and the introduction of new advanced packaging solutions.</p>
<p>CEO Rafi Amit expressed satisfaction with the third-quarter performance and highlighted the positive market reception of Camtek’s new products. The company’s strategic focus on cutting-edge semiconductor applications, such as advanced packaging and high-performance computing, positions it to capitalize on emerging industry trends. Amit emphasized that the HPC segment is expected to contribute significantly to Camtek’s business, accounting for around 50% of revenues this year and serving as a major growth driver in 2025.</p>
<p>With a strong order backlog and a healthy pipeline, Camtek is set to achieve a record year in 2024, with projected revenues of approximately $427 million, representing a 35% year-over-year growth. The company’s forward-looking statements reflect its strategic initiatives and market opportunities, although they are subject to risks and uncertainties inherent in the volatile semiconductor industry. Nonetheless, Camtek’s robust financial health and strategic market positioning provide a solid foundation for future growth.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/camtek-ltd-beats-q3-expectations-with-0-75-non-gaap-eps/">Camtek Ltd. Beats Q3 Expectations with $0.75 Non-GAAP EPS</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Camtek Ltd. Beats Q3 Expectations with $0.75 Non-GAAP EPS

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