-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueVoices of the Industry
We take the pulse of the PCB industry by sharing insights from leading fabricators and suppliers in this month's issue. We've gathered their thoughts on the new U.S. administration, spending, the war in Ukraine, and their most pressing needs. It’s an eye-opening and enlightening look behind the curtain.
The Essential Guide to Surface Finishes
We go back to basics this month with a recount of a little history, and look forward to addressing the many challenges that high density, high frequency, adhesion, SI, and corrosion concerns for harsh environments bring to the fore. We compare and contrast surface finishes by type and application, take a hard look at the many iterations of gold plating, and address palladium as a surface finish.
It's Show Time!
In this month’s issue of PCB007 Magazine we reimagine the possibilities featuring stories all about IPC APEX EXPO 2025—covering what to look forward to, and what you don’t want to miss.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - pcb007 Magazine
Camtek Announces Results for Q2 2023
August 1, 2023 | CamtekEstimated reading time: 2 minutes

Camtek Ltd., announced its financial results for the second quarter ended June 30, 2023.
Highlights of the Second Quarter of 2023
- Quarterly revenues of $73.8 million; ahead of expectations;
- GAAP operating income of $14.9 million; non-GAAP operating income of $18.3 million, representing an operating margin of 20.2% and 24.8% respectively;
- GAAP net income of $18.5 million and non-GAAP net income of $21.9 million;
- Positive operating cash flow of $15.6 million.
Forward-Looking Expectations
Management expects third quarter revenues to be $77-79 million with continued growth in the fourth quarter and into 2024.
Management Comment
Rafi Amit, Camtek’s CEO commented, “We are pleased to see the improvement in our results from the first quarter, in terms of both revenues and margins. We are particularly encouraged by the momentum in the industry and the flow of orders. In addition to our recently reported 42 system orders received, a tier one HBM (High Bandwidth Memory) manufacturer has placed an order for 10 systems, and more orders for HBM applications are in the pipeline. We expect that chiplet modules and HBM will account for over 30% of our business in 2024.
Continued Mr Amit, “This will translate into initial growth in the second half of 2023 and to a full extent in 2024, that we believe will be a record year for Camtek. The momentum is fueled by the major industry investment in AI. Camtek’s role as a key equipment supplier to the manufacturers of chiplet modules and HBM will benefit from this trend. With new technologies in the industry and the business momentum, we believe that 2024 will be an important step in reaching our next milestone of becoming a 500-million-dollar company.”
Second Quarter 2023 Financial Results
Revenues for the second quarter of 2023 were $73.8 million, a decrease of 7% compared to the second quarter of 2022.
Gross profit on a GAAP basis in the quarter totaled $35.0 million (47.4% of revenues), compared to a gross profit of $40.2 million (50.5% of revenues) in the second quarter of 2022. Gross profit on a non-GAAP basis in the quarter totaled $35.4 million (48.0% of revenues), compared to $40.5 million (50.9% of revenues) in the second quarter of 2022.
Operating profit on a GAAP basis in the quarter totaled $14.9 million (20.2% of revenues), compared to an operating profit of $20.9 million (26.2% of revenues) in the second quarter of 2022. Operating profit on a non-GAAP basis in the quarter totaled $18.3 million (24.8% of revenues), compared to $23.8 million (29.9% of revenues) in the second quarter of 2022.
Net income on a GAAP basis in the quarter totaled $18.5 million, or $0.38 per diluted share, compared to net income of $19.2 million, or $0.40 per diluted share, in the second quarter of 2022. Net income on a non-GAAP basis in the quarter totaled $21.9 million, or $0.45 per diluted share, compared to non-GAAP net income of $22.1 million, or $0.46 per diluted share, in the second quarter of 2022.
Cash and cash equivalents, short-term and long-term deposits, as of June 30, 2023 were $506.3 million compared to $492.7 million as of March 31, 2023. During the quarter, Camtek generated $15.6 million in operating cash flow.
Suggested Items
Wistron Announces Q1 Financial Results
05/08/2025 | WistronWistron Corporation held a Board of Directors meeting today. Following the meeting, the Company announced its financial results for the first quarter ended March 31, 2025. Consolidated revenue reached NTD346 billion, operating income was NTD15.15 billion, profit before tax (PBT) was NTD14.81 billion, and profit after tax (PAT) was NTD5,331million, with earnings per share (EPS) of NTD1.85.
Zhen Ding Releases April 2025 Monthly Revenue Report
05/07/2025 | Zhen Ding TechnologyZhen Ding Technology Holding Limited, a global leading PCB manufacturer, reported April 2025 revenue of NT$13,589 million, up 22.90% YoY, marking a record high for the same period in the company’s history.
Schweizer Electronic AG: Business Development in Q1 of 2025
05/07/2025 | Schweizer Electronic AGThe Schweizer Group continued its growth trajectory in the first quarter of 2025. Revenue reached EUR 39.4 million in the first quarter of 2025, up 14.9% on the previous quarter (Q4 2024: EUR 34.4 million) and slightly above the level of the same quarter of the previous year (Q1 2024: EUR 39.2 million).
Airbus Reports Q1 2025 Results
05/05/2025 | AirbusConsolidated revenues increased 6% year-on-year to € 13.5 billion (Q1 2024: € 12.8 billion). A total of 136 commercial aircraft were delivered (Q1 2024: 142 aircraft), comprising 17 A220s, 106 A320 Family, 4 A330s and 9 A350s.
OSI Systems Reports Fiscal 2025 Q3 Financial Results
05/02/2025 | BUSINESS WIREOSI Systems, Inc. announced its financial results for the three and nine months ended March 31, 2025.