Yahoo Finance Camtek Ltd. (NASDAQ:CAMT) Q1 2024 Earnings Call Transcript
Camtek Ltd. (NASDAQ:CAMT) Q1 2024 Earnings Call Transcript May 9, 2024
Camtek Ltd. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Kenny Green: Ladies and gentlemen, thank you for standing by. I would like to welcome all of you to Camtek's Results Zoom Webinar. My name is Kenny Green, and I'm part of the Investor Relations team at Camtek. All participants other than the presenters are currently muted. Following the formal presentation, I'll provide some instructions for participating in the live question-and-answer session. I would like to remind everyone that this conference call is being recorded, and the recording will be available on Camtek's website from tomorrow. You should have all by now received a press release, if not, please view it on the company's website. With me on the call today, we have Mr. Rafi Amit, Camtek's CEO; Mr. Moshe Eisenberg, Camtek's CFO; and Mr. Ramy Langer, Camtek's COO.
Rafi will open by providing an overview of Camtek's results and discuss recent market trends. Moshe will then summarize the financial results of the quarter. Following that, Rafi, Moshe, and Ramy will be available to answer your questions. Before we begin, I'd like to remind everyone that certain information provided on this call are internal company estimates, unless otherwise specified. This call may also contain forward-looking information. These statements are only predictions and may change as time passes. Statements on this call are made as of today and the company undertakes no obligation to update any of the forward- looking statements contained, whether as a result of new information, future results, changes, expectations, or otherwise.
Investors are reminded that 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. Risks related to the concentration of significant portion of Camtek's expected business in certain countries, particularly China, from which Camtek expects to generate a significant portion of its revenues for the foreseeable future, 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 services and products, the timely development of new services and products and their adoption by the market, increased competition in the industry and price and price reductions, as well as due to other risks identified in the company's filings with the SEC.
Please note that the safe harbor statements in today's release also covers the contents of this conference call. In addition, during this call, certain non-GAAP financial measures will be discussed. These are used by management to make strategic decisions, forecast future results, and evaluate the company's future performance. Management believes that the presentation of non-GAAP financial measures are useful to investors understanding and assessment of the company's ongoing core operations and prospects for the future. A full reconciliation of non-GAAP to GAAP financial measures are included in today's earnings release. And now I'd like to hand the call over to Rafi, Camtek's CEO. Rafi, please go ahead.
Rafi Amit: Okay. Thanks, Kenny. Good morning or good afternoon, everyone. Camtek ended Q1 2024 with a record quarterly revenue of $97 million, exceeding the guidance of $93 million to $95 million provided last quarter. It is interesting to look at the distribution of sales this quarter. 80% of our revenue came from Advanced Interconnect Packaging applications, which are divided to 40% from HBM segment, 20% from chiplets and 20% from other advanced packaging applications. The remaining 20% are divided between compound semiconductor for power devices, CIS and Process Control applications. The gross margin came high in this quarter at 50.6%. This achievement resulted mainly from the high percentage of systems sold to the Advanced Packaging Interconnect segment.
See also
25 Most Dangerous Crime Lords in the World and
25 States Where Everyday Americans Earn the Lowest Incomes.
To continue reading the Q&A session, please click here.
