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Orbotech Announces Third Quarter 2002 Results
November 13, 2002 |Estimated reading time: 1 minute
Yavne, Israel -- Orbotech Ltd. announced its consolidated financial results for the third quarter and nine months ended September 30, 2002.
Revenues for the third quarter of 2002 were $54.2 million, compared to the $61.7 million recorded in the third quarter a year ago. Net loss for the third quarter of 2002 was $2 million, or 6 cents per share (diluted), compared with net income for the third quarter last year, excluding a restructuring charge of $4.0 million, net of taxes, of $400,000, or 1 cent per share (diluted). Including the charge, the reported net loss for the third quarter of 2001 was $3.6 million, or 11 cents per share (diluted).
Revenues for the first nine months of 2002 were $159.5 million, compared to the $243 million recorded in the same period in 2001. Net loss for the first nine months of 2002, excluding a $1.6 million restructuring charge during the first half of the year, net of taxes, was $4.4 million, or 14 cents per share (diluted), compared with net income for the same period last year, excluding a restructuring charge of $4 million, net of taxes, of $27.5 million, or 84 cents per share (diluted). Including these charges, the reported net loss for the first nine months of 2002 was $6 million, or 19 cents per share (diluted), compared with reported net income of $23.5 million, or 72 cents per share, for the first nine months of 2001.
Orbotech Ltd. designs, develops, manufactures, markets and services production support solutions for 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.