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Orbotech Announces First Quarter 2003 Results
May 16, 2003 |Estimated reading time: 1 minute
Yavne, Israel — Orbotech Ltd. announces its consolidated financial results for the first quarter ended March 31, 2003.
Revenues for the first quarter of 2003 totaled $54.2 million, compared to the $51.1 million recorded in the first quarter a year ago. Net income for the first quarter of 2003 was $1 million, or 3 cents per share (diluted), compared with net loss of $2.7 million, or 9 cents per share (diluted), in the first quarter of 2002. Excluding a restructuring charge of $1 million, net of taxes, the reported net loss for the first quarter of 2002 was $1.7 million, or 5 cents per share (diluted).
Sales of equipment to the printed circuit board (PCB) industry relating to bare PCBs were $17.6 million in the first quarter of 2003, compared to $19.5 million in the fourth quarter, and $17.3 million in the first quarter, of 2002. Sales of flat panel display (FPD) inspection equipment were $14.5 million, compared to $15 million in the fourth quarter, and $11.2 million in the first quarter, of last year. Sales of equipment to the PCB industry relating to assembled PCBs were $4.5 million, compared to $5.3 million in the fourth quarter, and $5 million in the first quarter, of last year.
Orbotech Ltd. 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.