Camtek announces financial results for third-quarter 2010

Automated systems manufacturer Camtek has announced its financial results for the quarter ended 30 September 2010.

This year third quarter revenues increased 65 per cent to $23.9m (£14.8m), compared to $14.5m for the same period a year ago.

Revenues grew 15 per cent sequentially, representing the sixth quarter of continued sequential growth resulting from improving market conditions.

Gross profit on a GAAP basis for the quarter was $10.9m (45.6 per cent of revenues), compared to gross profit of $6.1m (42 per cent of

revenues) in the third quarter of 2009.

On a non-GAAP basis, gross profit for the third quarter of 2010 totaled $10.9m (45.8 per cent of revenues).

Operating income on a GAAP basis was $2.3m (9.7 per cent of revenues) compared with an operating loss of $179,000 in the third quarter of 2009.

Non-GAAP operating income was $2.5m (10.5 per cent of revenues) in the third quarter of 2010.