Conference Call
Camtek will host a video conference call/webinar today via Zoom, February 9, 2021, at 9:00 am ET (16:00 Israel time).
Rafi Amit, CEO, Moshe Eisenberg, CFO and Ramy Langer, COO will host the call and will be available to answer questions after presenting the results.
To participate in the video call please visit the link in the investor relations section of Camtek's website:
http://www.camtek.com/investors/overview
Passcode: 039565
or click here.
Passcode: 039565
For those wishing to listen via phone, please dial:
US: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592
Israel: +972 553 301762 or +972 3 978 6688
Webinar ID: 847 4246 6872
For those unable to participate, a recording will be available on Camtek's website at
within a few hours after the call.
A summary presentation of the quarterly results will also be available on Camtek's website.
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 contains projections or other forward-looking statements regarding future events or the future performance of the Company. These statements are only predictions that represent our views only as of the date they are made and may change as time passes. We do not assume any obligation to update that information, except as required by law. These forward-looking statements are subject to risks and uncertainties that may cause actual events or results to differ materially from those projected, including as a result of the effects of general economic conditions; the effect of the COVID-19 crisis on the global markets and on the markets in which we operate, including the risk of a continued disruption to our and our customers', providers', business partners and contractors' business as a result of the outbreak and effects of the COVID-19 pandemic; the risks relating to the concentration of a significant portion of Camtek's expected business in certain countries, particularly China, from which we expect to generate significant portion of our revenues for the coming few quarters, but also Taiwan and Korea, including the risks of deviations from our expectations regarding timing and size of orders from customers in these countries; 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 other risks identified in our Annual Report on Form 20-F and other documents filed by the Company with the SEC.
This press release provides financial measures that exclude: (i) share based compensation expenses; (ii) certain Chroma transaction expenses; and (iii) discontinued operations, 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. and its subsidiaries | |||||
Consolidated Balance Sheets | |||||
(In thousands) | |||||
| December 31, | December 31, | |||
| 2020 | 2019 | |||
| U.S. Dollars (In thousands) | ||||
|
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Assets |
|
| |||
|
|
| |||
Current assets |
|
| |||
Cash and cash equivalents | 105,815 | 38,047 | |||
Short-term deposits | 72,000 | 51,500 | |||
Trade accounts receivable, net | 41,001 | 31,443 | |||
Inventories | 39,736 | 23,803 | |||
Other current assets | 3,366 | 2,909 | |||
|
|
| |||
Total current assets | 261,918 | 147,702 | |||
|
|
| |||
Fixed assets, net | 20,398 | 18,526 | |||
|
|
| |||
Long term inventory | 4,416 | 2,791 | |||
Deferred tax asset, net | 482 | 746 | |||
Other assets, net | 85 | 113 | |||
Intangible assets, net | 609 | 491 | |||
| 5,592 | 4,141 | |||
Total assets | 287,908 | 170,369 | |||
Liabilities and shareholders' equity |
|
| |||
Current liabilities |
|
| |||
Trade accounts payable | 27,180 | 11,334 | |||
Other current liabilities | 30,204 | 20,272 | |||
Total current liabilities | 57,384 | 31,606 | |||
Long term liabilities |
|
| |||
Other long term liabilities | 3,260 | 2,461 | |||
| 3,260 | 2,461 | |||
Total liabilities | 60,644 | 34,067 | |||
|
|
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Commitments and contingencies |
|
| |||
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Shareholders' equity |
|
| |||
Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at
|
|
| |||
45,365,354 issued shares at December 31, 2019 and 40,742,355 at
|
|
| |||
43,272,978 shares outstanding at December 31, 2020 and
| 171 | 157 | |||
Additional paid-in capital | 170,497 | 101,327 | |||
Retained earnings | 58,494 | 36,716 | |||
| 229,162 | 138,200 | |||
Treasury stock, at cost (2,092,376 as of December 31, 2020 and
|
(1,898) |
(1,898) | |||
Total shareholders' equity | 227,264 | 136,302 | |||
Total liabilities and shareholders' equity | 287,908 | 170,369 |