Camtech company
Camtech
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Dual, which deals with the development, production and marketing of systems to improve and optimize the semiconductor industry, published its financial reports for the fourth quarter of 2022 according to which its revenues amounted to $82.2 million, above the analysts’ revenue of $81.83 million. This is an increase of 11% compared to the corresponding quarter last year.
Non-GAAP gross profit amounted to $40.2 million (about 49% of revenues), an increase of 6% compared to gross profit of $37.8 million (50.9% of revenues) in the corresponding quarter. The operating profit on a non-GAAP basis amounted to 22.8 million dollars, representing profitability rates of 24.9% and 27.8% respectively.
The company records an adjusted profit of 50 million dollars – about 50 cents, higher than the market expectation for revenues of 48 cents per share. The cash flow from current operations amounted to 19.6 million dollars.
As of December 31, 2022, Camtech had cash, cash equivalents, and short- and long-term deposits amounting to $478.7 million, compared to $429.9 million on December 31, 2021, and compared to $460.3 million on September 30, 2022. During the quarter Fourth, the company generated a positive cash flow of 19.6 million dollars.
forecast
The company’s management expects revenues of 71-74 million dollars in the first quarter of 2023, a decrease of about 6% in relation to the revenues of the first quarter of 2022. This is a lower forecast than the expectations on Wall Street where they expected revenues of 75 million dollars.
Camtech shares in Tel Aviv rose by 22% since the beginning of the year to a price of NIS 93 and a market value of NIS 4.12 billion.
Rafi Amit, CEO of Camtech: “We are pleased to report a fifth year in a row of record revenues. Over the past two years our revenues have more than doubled, and our operating profit has more than tripled. We are well positioned in the fastest growing segments of our industry including Advanced Packages (AP) and Compound Semiconductors, And we are expected to benefit from this growth in the future. We believe that our position as a market leader in the aforementioned specific sectors, the broad and distributed customer base, and the strategic and long-term relationships with our customers, will allow us to present better results compared to the general semiconductor industry in general and Wafer Fabrication Equipment ( WFE) in particular which is expected to decrease by 20-30%”.
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