Camtek Announces Second Quarter 2017 Results

(1)     During the three and the six months ended June 30, 2017, the Company recorded a provision of $13 million ($12 million net of tax) in conjunction settlement with Rudolph Technologies Inc.

(2)     During the three and the six months ended June 30, 2017 the Company recorded net income of $4.5 million as a result of a decrease in the valuation allowance on deferred tax assets following the evaluation of the realizability of the assets based on projected future earnings.

(3)     During the year ended December 31, 2016, the Company recorded reorganization costs with regard to the FIT activities of  $0.9 million, consisting of: (1) inventory and fixed asset write-offs of $4.9 million, recorded under cost of revenues line item; (2) other expenses of $0.1 million, recorded under cost of revenues line item; (3) fixed asset write-offs of $0.7 million, recorded under operating expenses; (4) other expenses of $0.2 million, recorded under operating expenses; and (5) income from write-off of liabilities to OCS $5.0 million, recorded under operating expenses.

(4)     During the three and the six months ended June 30, 2016 and the twelve months ended December 31, 2016, the Company recorded acquisition expenses of $0.2 million, $0.1 million and $0.2 million, respectively, consisting of revaluation adjustments of $0.2 million, $0.1 million and $0.2 million, respectively, of contingent consideration and certain future liabilities recorded at fair value. These amounts are recorded under finance expenses line item.

CAMTEK LTD.

INTERNATIONAL INVESTOR RELATIONS

Moshe Eisenberg, CFO

GK Investor Relations

Tel: +972 4 604 8308

Ehud Helft / Gavriel Frohwein

Mobile: +972 54 900 7100

Tel: (US) 1 646 688 3559

moshee@camtek.com

camtek@gkir.com

 

 

View original content: http://www.prnewswire.com/news-releases/camtek-announces-second-quarter-2017-results-300499029.html

SOURCE Camtek Ltd

Contact:
Camtek Ltd
Web: http://www.camtek.com



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