Q2 2024 Camtek Ltd Earnings Call Transcript
Key Points
- Camtek Ltd (CAMT) reported a record quarterly revenue of $102.6 million, representing a 40% growth compared to Q2 2023.
- The company achieved a gross margin of 51% and an operating margin of about 30%, indicating improved profitability.
- Camtek Ltd (CAMT) received a significant order of over $31 million from a global Tier 1 customer for HPC-related products, showcasing strong demand in this segment.
- The company expects continued revenue growth in the third and fourth quarters of 2024, with guidance between $107 million to $110 million for Q3.
- Camtek Ltd (CAMT) is well-positioned in the semiconductor market, particularly in HPC modules for generative AI, which is a key growth driver.
- A significant portion of Camtek Ltd (CAMT)'s business is concentrated in Asia, particularly Korea and Taiwan, which poses risks related to geopolitical and economic conditions.
- Operating expenses increased to $21.6 million, up from $17.1 million in the same quarter last year, due to planned expansion to support growth.
- The company's financial income decreased slightly due to a lower cash balance following a $60 million dividend payout.
- Inventory levels increased by $7 million to $109 million, which could indicate potential challenges in managing supply chain and demand fluctuations.
- The company's reliance on the HPC segment, which accounts for 50% to 60% of revenue, may pose risks if demand in this segment fluctuates.
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. (Operator Instructions)
I would like to remind everyone that this conference call is being recorded and the recordings will be available on Camtek's website from tomorrow. You should have all by now received the company's press release and if not, you can view it on the company's website.
With me on the call today, we have Mr. Rafi Amit, Camtekâs CEO; Mr. Moshe Eisenberg, Camtekâs CFO; and Mr. Ramy Langer, Camtek's COO. Rafi will begin 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 take your questions.
Before we begin, I would like to remind everyone that certain information provided on this conference call are internal company estimates unless otherwise specified. This call may also contain forward-looking statements. These
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
