Strong finish for Orbotech

Orbotech’s revenues for the fourth quarter of 2013 totaled at USD 122.2 million, compared to USD 113.4 million in the third quarter of 2013 and USD 97.1 million in the fourth quarter of 2012.
GAAP net income for the fourth quarter of 2013 was USD 12.6 million, compared to GAAP net income of USD 11.9 million in the third quarter of 2013 and a GAAP net loss of USD 0.7 million in the fourth quarter of 2012.

Commenting on the results, Asher Levy, Chief Executive Officer, said: “We are pleased to report a strong 2013 in which we posted robust revenues and much improved gross, operating and net margins. These reflected improving business conditions as well as the operational efficiency measures that we adopted at the end of 2012, and we were able to capitalize on opportunities in PCB and electronic components manufacturing. Our FPD business picked up strongly during the year and we expect this trend to continue in 2014 as our customers solidify their future investment plans, particularly in China. We remain optimistic regarding the outlook for 2014, when we expect to further grow our business and strengthen our position as the leading provider of production solutions to the electronics industry.”

Revenues for the year ended December 31, 2013 totaled USD 440.0 million, compared to USD 387.0 million in 2012. GAAP net income for the year ended December 31, 2013 was USD 40.0 million, compared to a GAAP net loss of USD 45.6 million in 2012.

The Company expects that revenues for the first quarter of 2014, which it anticipates will be the lowest quarter for the year, will be approximately USD 105 million.

Read more: http://evertiq.com/news/33840