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- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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