Camtek Beats On Q2 Earnings, Notes Robust Margins, Issues Strong Q3 Outlook

Camtek Ltd CAMT reported second-quarter FY21 revenue growth of 82% year-on-year to $67.5 million, beating the analyst consensus of $64.1 million.
The non-GAAP gross margin expanded 600 bps to 52.1% due to the higher revenue level and a more favorable product mix in the quarter.
The non-GAAP operating margin expanded by 1,020 bps to 27.4%.
Non-GAAP EPS of $0.38 beat the analyst consensus of $0.36.
The company held $189.3 million in cash and equivalents.
It generated $19.9 million in operating cash flow.
Camtek experienced unprecedented momentum in its business which it expects to continue through the second half of the year, CEO Rafi Amit stated.
Camtek said it is in the process of expanding production capacity to address customers' demands and long-term growth strategy.
Inventories were $54.35 million as of June 30, 2021, versus $39.74 million as of Dec. 31, 2020.
Outlook: Camtek sees Q3 revenue of $69 million - $71 million, versus the consensus of $65.68 million.
Price action: CAMT shares traded higher by 1.63% at $38.11 on the last check Wednesday.