US: +1-888 668 9141 at 10 am Eastern Time
Israel: 03-918-0609 at 5 pm Israel Time
International: +972-3-918 0609
For those unable to participate, the teleconference will be available for replay on Camtek's website at http://www.camtek.com beginning 24 hours after the call.
ABOUT CAMTEK LTD.
Camtek is a leading manufacturer of metrology and inspection equipment and a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the mid end of the semiconductor industry.
Camtek provides dedicated solutions and crucial yield-enhancement data, enabling manufacturers to improve yield and drive down their production costs.
With eight offices around the world, Camtek has best-in-class sales and customer support organization, providing tailor-made solutions in line with customers' requirements.
This press release is available at http://www.camtek.com
This press release may contain projections or other forward-looking statements regarding future events or the future performance of the Company. These statements are only predictions and may change as time passes. We do not assume any obligation to update that information. Actual events or results may differ materially from those projected, including as a result of changing industry and market trends, reduced demand for our products, the timely development of our new products and their adoption by the market, increased competition in the industry, price reductions as well as due to risks identified in the documents filed by the Company with the SEC.
This press release provides financial measures that exclude: (i) settlement expenses; (ii) changes in valuation allowance on deferred tax assets; (iii) share based compensation expenses, (iv) discontinued operations, and (v) write off costs with regard to the FIT activities, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these Non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release.
CAMTEK LTD.
Moshe Eisenberg, CFO
Tel: +972-4-604-8308
Mobile: +972-54-900-7100
moshee@camtek.com
INTERNATIONAL INVESTOR RELATIONS
GK Investor Relations
Ehud Helft / Gavriel Frohwein
Tel: (US) +1-646-688-3559
camtek@gkir.com
Camtek Ltd.
Consolidated Balance Sheets
|
| December 31, | |
|
| 2018 | 2017 |
|
| U.S. Dollars (In thousands) | |
Assets |
|
|
Current assets |
|
|
Cash and cash equivalents | 54,935 | 43,744 |
Accounts receivable, net | 31,644 | 23,153 |
Inventories | 30,109 | 21,336 |
Other current assets | 2,613 | 3,215 |
Total current assets | 119,301 | 91,448 |
|
|
|
|
Fixed assets, net | 17,117 | 15,503 |
|
|
|
|
Long term inventory | 2,056 | 1,383 |
Deferred tax asset | 2,366 | 4,067 |
Other assets, net | 231 | 153 |
Intangible assets, net | 476 | 482 |
Total long-term assets | 5,129 | 6,085 |
|
|
|
|
Total assets | 141,547 | 113,036 |
|
|
|
|
Liabilities and shareholders' equity |
|
|
|
|
|
|
Current liabilities |
|
|
Accounts payable – trade | 15,541 | 10,502 |
Other current liabilities | 23,701 | 17,395 |
Total current liabilities | 39,242 | 27,897 |
|
|
|
|
Long term liabilities |
|
|
Liability for employee severance benefits | 898 | 838 |
Total long-term liabilities | 898 | 838 |
|
|
|
|
| Total liabilities | 40,140 | 28,735 |
|
|
|
|
| Commitments and contingencies |
|
|
|
|
|
|
| Shareholders' equity |
|
|
| Ordinary shares NIS 0.01 par value, authorized 100,000,000 shares, |
|
|
| 38,535,445 issued as of December 31, 2018, and 37,924,507 as of |
|
|
| December 31, 2017, outstanding 36,443,069 as of December 31, 2018, |
|
|
| and 35,832,131 as of December 31, 2017 | 151 | 149 |
| Additional paid-in capital | 81,873 | 78,437 |
| Retained earnings | 21,281 | 7,613 |
|
| 103,305 | 86,199 |
| Treasury stock, at cost (2,092,376 as of December 31, 2018 and December 31, 2017) | (1,898) | (1,898) |
|
|
|
|
| Total shareholders' equity | 101,407 | 84,301 |
|
|
|
|
| Total liabilities and shareholders' equity | 141,547 | 113,036 |
