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Migdal Haemek, Israel — Camtek Ltd. has announced results for the first quarter ended March 31, 2003.
Sales for the first quarter of 2003 were $5.8 million compared to $4.7 million in the first and fourth quarters of 2002. Gross profit margins for the first quarter of 2003 were 39.7 percent, compared to 37.1 percent for the first quarter of 2002, and 33.9 percent in the fourth quarter of 2002. Selling, general and administrative expenses decreased to $2.0 million from $3.0 million in the first quarter of 2002 and $2.7 million in the fourth quarter of 2002. The company reported a net loss for the first quarter of $1.3 million or 5 cents loss per share. This compares with a net loss of $3.1 million, or 14 cents loss per share in the first quarter of 2002, and a net loss of $3.4 million or 13 cents loss per share in the fourth quarter of 2002. Successful implementation of tight inventory control and effective collection activity resulted in a significant decrease in inventory and receivable levels.
Camtek Ltd. designs, develops, manufactures and markets technologically advanced and cost-effective intelligent optical inspection systems and related software products, used to enhance processes and yields for the printed circuit board, semiconductor packaging and microelectronics industries. For more information, visit www.camtek.co.il.