Camtek Announces Record Results For The Fourth Quarter And Full Year Of 2020

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

http://www.camtek.com

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)



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




Commitments and contingencies






Shareholders' equity



Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at
December 31, 2020 and at December 31, 2019;



45,365,354 issued shares at December 31, 2019 and 40,742,355 at
December 31, 2019;



43,272,978 shares outstanding at December 31, 2020 and
38,649,979 at December 31, 2019

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
December 31, 2019)

 

(1,898)

 

(1,898)

Total shareholders' equity

227,264

136,302

Total liabilities and shareholders' equity

287,908

170,369


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