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Orbotech Announces Third Quarter 2003 Results
November 4, 2003 |Estimated reading time: 1 minute
Yavne, Israel — Orbotech Ltd. has announced its consolidated financial results for the third quarter and nine months ended September 30, 2003.
Revenues for the third quarter of 2003 were $57.3 million, compared to $54.2 million recorded in the third quarter a year ago. Net income for the third quarter of 2003 was $2 million, or 6 cents per share (diluted), compared with a net loss of $2 million, or 6 cents per share (diluted) for the third quarter last year.
Revenues for the first nine months of 2003 were $166.1 million, compared to $159.5 million recorded in the same period in 2002. Net income for the first nine months of 2003 was $4.3 million, or 13 cents per share (diluted), compared with a net loss for the same period last year of $6 million, or 19 cents per share (diluted). Excluding a restructuring charge of $1.6 million, net of taxes, in that period, the reported net loss for the first nine months of 2002 was $4.4 million, or 14 cents per share (diluted).
Sales of equipment to the printed circuit board (PCB) industry relating to bare PCBs were $20.9 million in the third quarter of 2003, compared to $18.5 million in the second quarter of 2003 and $20.8 million in the third quarter of 2002. Sales of equipment to the PCB industry relating to assembled PCBs were $3.7 million, compared to $6.1 million in the second quarter this year, and $4.1 million in the third quarter of last year.
Orbotech is a world leader in providing yield-enhancing production support solutions for specialized applications in the supply chain of the electronics industry, principally for printed circuit boards (PCBs) and flat panel displays (FPDs). For more information, visit www.orbotech.com.