Orbotech Announces Second Quarter 2003 Results


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Yavne, Israel — ORBOTECH LTD. has announced its consolidated financial results for the second quarter and six months ended June 30, 2003.

Revenues for the second quarter of 2003 totaled $54.6 million, compared to $54.2 million recorded in the second quarter a year ago. Net income for the second quarter of 2003 was $1.2 million, or 4 cents per share (diluted), compared with a net loss of $1.2 million, or 4 cents per share (diluted), in the second quarter of 2002. Excluding a restructuring charge of $600,000, net of taxes, in that period, the reported net loss for the second quarter of 2002 was $600,000, or 2 cents per share (diluted).

Revenues for the first six months of 2003 totaled $108.8 million, compared to $105.3 million recorded in the first half of 2002. Net income for the first six months of 2003 was $2.3 million, or 7 cents per share (diluted), compared with a net loss for the first six months of 2002 of $3.9 million, or 12 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 six months of 2002 was $2.3 million, or 7 cents per share (diluted).

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.

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