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Nasdaq:ORBK
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). The Company
produces automated optical inspection (AOI) systems for bare PCBs and for
FPDs, and imaging solutions for PCB production, and is a provider of AOI
systems for assembled PCBs.
http://www.orbotech.com
44 Manning Road Billerica,
MA 01821
Phone: (978) 667-6037 Fax:
(978) 667-9969
Orbotech
Announces First Quarter 2005 Results
YAVNE, Israel--(BUSINESS
WIRE)--May 9, 2005--ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK) today announced
its consolidated financial results for the first quarter ended March 31,
2005.
Revenues for the first quarter
of 2005 totaled $100.5 million, compared to the $67.2 million recorded
in the first quarter a year ago. Net income for the first quarter of 2005
was $10.6 million, or $0.32 per share (diluted), compared with net income
of $5.1 million, or $0.15 per share (diluted), in the first quarter of
2004.
Sales of equipment to the
printed circuit board ("PCB") industry relating to bare PCBs were $30.1
million in the first quarter of 2005, compared to $32.7 million in the
fourth quarter, and $23.2 million in the first quarter, of 2004. Sales
of flat panel display ("FPD") inspection equipment were $43.2 million,
compared to $26.4 million in the fourth quarter, and $18.7 million in the
first quarter, of last year. Sales of equipment to the PCB industry relating
to assembled PCBs were $6.2 million, compared to $8.3 million in the fourth
quarter, and $6.6 million in the first quarter, of last year. Sales of
automatic check reading products were $2.3 million, compared to $2.0 million
in the fourth quarter, and $1.9 million in the first quarter, of 2004.
In addition, service revenue for the first quarter of 2005 increased to
$18.7 million from $18.4 million in the fourth quarter of 2004, and $16.8
million in the first quarter, of that year.
The Company completed the
quarter with cash equivalents and short-term and long-term cash investments
of approximately $177 million, compared with approximately $182 million
at the end of 2004. Non-operating disbursements totaled approximately $5.0
million, comprised of $3.5 million which was paid as part of the acquisition
of the assets of Imarad Imaging Systems Ltd. ("Imarad") and $1.5 in capital
expenditures. |
