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Camtek(CAMT) - 2022 Q3 - Earnings Call Presentation
2022-11-17 15:07
Camtek Investor Presentation • Rafi Amit, CEO • Moshe Eisenberg, CFO • Ramy Langer, COO November 2022 Disclaimer 2 Confidentiality This presentation is confidential and may not be reproduced or distributed to others at any time without our prior written consent. Safe Harbor This presentation contains statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of ...
Camtek(CAMT) - 2022 Q2 - Quarterly Report
2022-09-13 16:00
Exhibit 99.1 Camtek Ltd. and its Subsidiaries Interim Condensed Consolidated Financial Statements As of June 30, 2022 (Unaudited) Camtek Ltd. and its Subsidiaries Contents Page Interim Unaudited Condensed Consolidated Financial Statements as at June 30, 2022 F-3 | --- | --- | |------------------------------------------|------------------------------------| | Interim Unaudited Condensed Consolidated | Balance Sheets | | Interim Unaudited Condensed Consolidated | Statements of Operations | | Interim Unaudited ...
Camtek(CAMT) - 2022 Q2 - Earnings Call Transcript
2022-07-27 19:01
Camtek Ltd (NASDAQ:CAMT) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET Company Participants Kenny Green - IR Rafi Amit - Chairman & CEO Moshe Eisenberg - CFO Ramy Langer - COO Conference Call Participants Charles Shi - Needham & Company Thomas O'Malley - Barclays Bank Craig Ellis - B. Riley Securities Denis Pyatchanin - Stifel, Nicolaus & Company Kenny Green Ladies and gentlemen, thank you for standing by. I would like to welcome all of you to Camtek's results' Zoom webinar. My name is Kenny Gre ...
Camtek(CAMT) - 2022 Q1 - Earnings Call Transcript
2022-05-12 16:06
Camtek Ltd. (NASDAQ:CAMT) Q1 2022 Earnings Conference Call May 12, 2022 9:00 AM ET Company Participants Rafi Amit – Chief Executive Officer Ramy Langer – Chief Operating Officer Moshe Eisenberg – Chief Financial Officer Kenny Green – Investor Relations Conference Call Participants Brian Chin – Stifel, Nicolaus & Company Thomas O'Malley – Barclays Corporations & Investment Bank Charles Shi – Needham & Company Jamie Zakalik – Bank of America Securities Kenny Green Ladies and gentlemen, thank you for standing ...
Camtek(CAMT) - 2021 Q4 - Annual Report
2022-03-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares, nominal value NIS 0.01 per share CAMT Nasdaq Global Market FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO ...
Camtek(CAMT) - 2021 Q4 - Earnings Call Transcript
2022-02-10 20:40
Camtek Ltd. (NASDAQ:CAMT) Q4 2021 Earnings Conference Call February 10, 2022 9:00 AM ET Company Participants Kenny Green - Investor Relations Rafi Amit - Chief Executive Officer Moshe Eisenberg - Chief Financial Officer Ramy Langer - Chief Operating Officer Conference Call Participants Tom O'Malley - Barclays Brian Chin - Stifel Jamie Zakalik - Bank of America Charles Shi - Needham Gus Richard - Northland Kenny Green Ladies and gentlemen, thank you for standing by. I would like to welcome all of you to Camt ...
Camtek(CAMT) - 2021 Q3 - Earnings Call Transcript
2021-10-27 17:19
Financial Data and Key Metrics Changes - The company reported record revenues of $70.7 million for Q3 2021, representing a 76% increase year-over-year and a 5% increase quarter-over-quarter [22] - Gross profit was $36 million with a gross margin of 50.9%, compared to 48.8% in Q3 2020 and 52.1% in Q2 2021 [23] - Operating profit reached $21.7 million, up from $7.6 million in Q3 2020 and $18.5 million in Q2 2021, resulting in an operating margin of 30.6% [25][26] - Net income for Q3 2021 was $20 million, or $0.45 per diluted share, compared to $7.3 million, or $0.18 per share in Q3 2020 [26] Business Line Data and Key Metrics Changes - Approximately 50% of sales were from inspecting advanced packaging wafers, 20% from inspecting compound semi-wafers, and 15% from front-end applications [13] - The company is gradually increasing R&D investment and marketing channels to meet market demands [11] Market Data and Key Metrics Changes - In Q3, sales to Europe and the U.S. accounted for about 80% of total sales, with China remaining the largest territory [16][17] - The geographic revenue split was 82% from Asia and 18% from the rest of the world, indicating significant revenue growth from the U.S. and Europe [23] Company Strategy and Development Direction - The company plans to continue investing in R&D and adjust investment levels based on technological challenges [20] - The demand for semiconductor components is driving increased demand for inspection and metrology systems, positioning the company strongly in the market [21] Management's Comments on Operating Environment and Future Outlook - Management expects moderate revenue growth in the next quarter and positive signs for the first half of 2022, with a revenue guidance of $72 million to $73 million for Q4 [11][12] - The company is closely monitoring the energy situation in China but believes the semiconductor industry will be prioritized for energy allocation [17] Other Important Information - The company generated $16.5 million in cash from operations in Q3, with total cash and equivalents amounting to $215 million as of September 30, 2021 [28] - The company celebrated the shipment of its 1000th Eagle system, indicating strong product demand and innovation [19] Q&A Session Summary Question: Insights on quarter-to-date orders composition - Orders are from multiple Tier 1 customers across various applications, including advanced packaging and compound semi [31] Question: Context on the compound semi market size and sustainability - The compound semi market is growing faster than expected, and while it's hard to predict sustainability, it is building up to be a sizable business [34] Question: Clarification on operating expenses and future trajectory - Operating expenses were lower than anticipated due to a favorable sales channel mix, but an increase is expected in Q4 as R&D and sales expenses rise [36] Question: Expected delivery dates for recent orders - Most orders will be shipped in the first half of next year, with a few in Q4 [39] Question: DRAM market outlook - The company expects to ship multiple machines for DRAM applications in the first half of next year, with no changes in order firmness [40] Question: CMOS Image Sensor market expectations for 2022 - The company anticipates maintaining double-digit growth in the CMOS Image Sensors market next year [42] Question: Major evaluation at a global Tier 1 player - The opportunity involves multiple machines over the next couple of years in the area of advanced packaging [45] Question: Trends in U.S. and Europe market performance - Increased business is primarily from Tier 1 IDMs, with expansion in these regions contributing to revenue growth [46]
Camtek(CAMT) - 2021 Q2 - Earnings Call Transcript
2021-08-04 17:20
Financial Data and Key Metrics Changes - The company reported record revenues of $67.5 million for Q2 2021, an increase of 82% year-over-year and 18% quarter-over-quarter [20][24] - Gross margin improved to 52.1% compared to 46.1% in Q2 2020 and 50.7% in the previous quarter [21] - Operating margin was 27.4%, up from 17.2% in Q2 2020 and slightly higher than 27.2% in the previous quarter [23] - Net income for Q2 2021 was $17.1 million, or $0.38 per diluted share, compared to $6.3 million or $0.16 per share in Q2 2020 [24] Business Line Data and Key Metrics Changes - 88% of sales came from Asia, with 60% of systems sold for advanced packaging applications [16] - CMOS image sensors accounted for 18% of revenues, indicating solid performance in this segment [16] Market Data and Key Metrics Changes - The company expects continuous sales growth in the next two quarters, driven by demand in the semiconductor market, particularly from the transition to 5G and increased data center needs [10][11] - The automotive industry is undergoing significant changes, which the company anticipates will benefit its operations in the coming years [11] Company Strategy and Development Direction - The company is expanding production capacity to support long-term growth, including adding cleanroom space and increasing inventory levels [17] - The focus remains on high-growth segments, leveraging technology leadership and local support to outperform industry growth [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market, noting strong demand for semiconductor components and a healthy backlog for the second half of the year [18] - The company expects Q3 revenues to be between $69 million and $71 million, reflecting ongoing demand [26] Other Important Information - The company is actively pursuing M&A opportunities, viewing it as a priority for cash use, although progress has been slower due to travel restrictions [58][62] - Inventory levels increased to $59 million to support current demand and ensure availability of key components [25] Q&A Session Summary Question: Clarification on revenue strength in Q2 - Management noted that both CMOS image sensors and advanced packaging saw stronger-than-expected performance, contributing to revenue growth [29][30] Question: Visibility into early 2022 - Management indicated positive customer sentiment and solid forecasts for the DRAM market, suggesting a strong outlook for early 2022 [32][34] Question: Supply chain issues impacting margins - Management acknowledged some supply chain pressures but stated they have managed to mitigate significant impacts on margins [36] Question: Advanced packaging demand trends - Management confirmed that the trend towards more bumps per wafer is a secular trend, indicating long-term growth potential in advanced packaging [40][42] Question: CMOS image sensor outsourcing trends - Management viewed the trend of IDMs outsourcing to foundries as neutral and expected continued healthy growth in the CMOS image sensor segment [46][48] Question: Inventory building perspective - Management confirmed that inventory building is ongoing and not expected to peak in Q3, as they prepare for continued revenue growth [64] Question: Areas of interest for M&A - Management is focused on finding companies with good synergy and profitability, although the process has been slowed by travel restrictions [62]
Camtek(CAMT) - 2021 Q2 - Quarterly Report
2021-06-29 16:00
SEC Filing Information [Filing Details](index=1&type=section&id=Filing%20Details) This section details the administrative information for Camtek Ltd's Form 6-K filing for June 2021, confirming its status as a foreign private issuer filing under Form 20-F - Camtek Ltd. filed Form 6-K as a Report of Foreign Private Issuer for the month of June 2021[1](index=1&type=chunk) - The registrant files annual reports under **Form 20-F**[2](index=2&type=chunk) - The registrant is not furnishing information to the Commission pursuant to Rule 12g3-2(b)[3](index=3&type=chunk) [Signature](index=2&type=section&id=Signature) The Form 6-K report was duly signed on behalf of Camtek Ltd. by Moshe Eisenberg, Chief Financial Officer, on June 30, 2021, and is incorporated by reference into effective registration statements - The report was signed by **Moshe Eisenberg, Chief Financial Officer** of CAMTEK LTD[5](index=5&type=chunk) - The signing date was **June 30, 2021**[6](index=6&type=chunk) - This Form 6-K, including all exhibits, is incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933[5](index=5&type=chunk) Press Release: Camtek Receives $10M Order [Order Announcement](index=3&type=section&id=Order%20Announcement) Camtek Ltd. announced a significant $10 million order for multiple systems from a leading CMOS Image Sensor (CIS) manufacturer, reinforcing its strong market position - Camtek received a multiple systems' order totaling **$10 million**[8](index=8&type=chunk) - The order is from a leading **CMOS Image Sensor (CIS) manufacturer**[8](index=8&type=chunk) - This order maintains Camtek's momentum in the **CMOS Image Sensor market**[7](index=7&type=chunk) [Order Details and Product Capabilities](index=3&type=section&id=Order%20Details%20and%20Product%20Capabilities) The systems from the $10 million order are scheduled for delivery in Q4 2021 and Q1 2022, with the EagleT+ model highlighted for its advanced inspection capabilities - Systems are expected to be delivered in the **fourth quarter of 2021** and **first quarter of 2022**[9](index=9&type=chunk) - Camtek's latest model, **EagleT+**, is equipped with cutting-edge technologies to address complex production processes of CMOS Image Sensors[8](index=8&type=chunk) - The EagleT+ model is designed for the challenging inspection of **higher resolution and smaller pixel size** sensor areas[8](index=8&type=chunk) [Management Commentary and Business Overview](index=3&type=section&id=Management%20Commentary%20and%20Business%20Overview) CEO Rafi Amit affirms Camtek's leadership and positive momentum in the growing CMOS Image Sensors market, supported by its global high-end inspection and metrology equipment business [Management Commentary](index=3&type=section&id=Management%20Commentary) CEO Rafi Amit expressed satisfaction with Camtek's positive momentum and solid growth in the CMOS Image Sensors market, highlighting the company's strong position - CEO Rafi Amit commented on the **positive momentum throughout 2021** and **solid growth** in the CMOS Image Sensors market[9](index=9&type=chunk) - Camtek is positioned as the **leading supplier** of inspection and metrology systems to capitalize on ongoing trends[9](index=9&type=chunk) [About Camtek Ltd.](index=3&type=section&id=About%20Camtek%20Ltd.) Camtek develops and manufactures high-end inspection and metrology equipment for diverse segments of the global semiconductor industry - Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the **semiconductor industry**[9](index=9&type=chunk) - Systems inspect ICs and measure IC features on wafers throughout the production process, covering **front-end, mid-end, and post-dicing**[9](index=9&type=chunk) - Key market segments served include **Advanced Interconnect Packaging, Memory, CMOS Image Sensors, MEMS, and RF**, serving global IDMs, OSATs, and foundries[9](index=9&type=chunk) - Camtek operates with **eight offices worldwide**, providing best-in-class sales and customer support[10](index=10&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section disclaims forward-looking statements, noting they are subject to risks and uncertainties, and Camtek assumes no obligation to update them - The press release contains projections or other forward-looking statements regarding future events or performance[11](index=11&type=chunk) - These statements are subject to risks and uncertainties that may cause actual events or results to differ materially from those projected[11](index=11&type=chunk) - Identified risks include changes in delivery timeframe, general economic conditions, the effect of the **COVID-19 crisis**, concentration of business in certain countries, changing industry trends, and increased competition[11](index=11&type=chunk) - Camtek does not assume any obligation to update this information, except as required by law[11](index=11&type=chunk)
Camtek(CAMT) - 2021 Q1 - Earnings Call Transcript
2021-04-28 19:53
Financial Data and Key Metrics Changes - The company reported Q1 2021 revenues of $57.4 million, a 90% increase compared to Q1 2020 and an 18% increase from the previous quarter [18] - Gross profit for the quarter was $29.1 million, with a gross margin of 50.7%, up from 45.2% in Q1 2020 and 48.2% in the previous quarter [19] - Operating profit was $15.6 million, resulting in an operating margin of 27.2%, compared to 12.2% in Q1 2020 and 18.9% last quarter [20] - Net income for Q1 2021 was $14.6 million, or $0.33 per diluted share, compared to $3.6 million or $0.09 per share in Q1 2020 [22] - The company expects revenues of $63 million to $65 million in Q2 2021 [24] Business Line Data and Key Metrics Changes - 88% of sales came from Asia, with China being the largest territory [15] - 50% of installed systems are for advanced packaging applications, which are expected to continue growing [15] - Other significant applications include compound semiconductors, MEMS, CIS, RF, and macro defect inspection [15] Market Data and Key Metrics Changes - Demand for semiconductor components is driven by increased needs for laptops, tablets, data centers, and cloud infrastructures due to the work-from-home trend [11] - The adoption of 5G technology has led to higher demand for electronic components, requiring more inspection and metrology [12] - The automotive industry is shifting towards electric vehicles and advanced driver assistance systems, increasing the need for extensive electronic components [13] Company Strategy and Development Direction - The company aims to expand its business in high-end advanced packaging as the industry adopts new applications [14] - The management is actively searching for potential M&A opportunities to create shareholder value [32] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in continued revenue growth in the upcoming quarters, with expectations for Q2 and Q3 to show sequential increases [10][30] - The company is well-positioned to meet the growing demand for inspection systems due to high demand for semiconductor components [17] Other Important Information - Inventory levels increased by $5 million to support expected growth, and accounts receivable rose by $13.5 million due to increased sales [23] - The company generated $2.7 million in cash from operations during the quarter [24] Q&A Session Summary Question: Clarification on operating expenses and gross margin expectations - Management indicated that operating expenses will increase to support growth but not significantly, with gross margins expected to remain between 50% to 52% in the coming quarters [27][28] Question: Revenue expectations for Q3 - Management expects continued growth in Q3, with a few million in gross rate expected each quarter [30] Question: Plans for cash deployment - The company is actively searching for M&A opportunities but is cautious due to travel restrictions [32] Question: Memory business outlook - Management expects any potential business from memory customers to materialize in early next year [37] Question: CMOS Image Sensor revenue expectations - Management anticipates a positive year for CMOS Image Sensors, with expectations for growth compared to the current year [41] Question: Advanced packaging market outlook - Management believes advanced packaging will continue to grow in the foreseeable future, driven by trends in high-performance computing [44][46] Question: Revenue breakdown by application - Management provided a high-level breakdown, indicating around 55% from advanced packaging and 10% from CMOS Image Sensors [77]