MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Camtek Ltd. (CAMT) on Thursday reported first-quarter profit of $24.8 million.
On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 51 cents. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 63 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The maker of automatic optical inspection and process enhancement systems posted revenue of $97 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $93.8 million.
For the current quarter ending in June, Camtek said it expects revenue in the range of $100 million to $102 million.
Camtek shares have risen 22% since the beginning of the year. The stock has more than tripled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAMT at https://www.zacks.com/ap/CAMT
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