Camtek Registers 16% Revenue Growth In Q3 Aided By Diversified Customers, Geographies

Camtek Ltd (NASDAQ: CAMT) reported third-quarter FY22 revenue growth of 16% year-on-year to $81.99 million, slightly missing the consensus of $82 million.

The non-GAAP gross margin contracted 190 bps to 49%.

The non-GAAP operating margin declined by 230 bps to 28.3%.

Non-GAAP EPS of $0.48 beat the consensus of $0.46.

The company held $392.3 million in cash and equivalents and generated $25.3 million in operating cash flow.

Rafi Amit, Camtek’s CEO, commented, “We had another record quarter and are providing positive guidance for the fourth quarter. In an increasingly complex environment, we are positioned to achieve a record year in 2022, supported by the company’s diversified customers, geographies, and various secular trends.”

Outlook: Camtek sees FY22 revenue of $320 million, below the consensus of $320.7 million.

CAMT expects fourth-quarter revenue to be similar to those of the third quarter.

Price Action: CAMT shares traded lower by 2.31% at $24.10 in the premarket on the last check Thursday.

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