Non-GAAP net income from continuing operations for the first quarter of 2011 was $15.2 million, or $0.42 per share (diluted), compared to non-GAAP net income from continuing operations of $8.5 million, or $0.24 per share (diluted), in the first quarter of 2010. A reconciliation of each of the Company’s non-GAAP measures to the comparable GAAP measure is included at the end of this press release.The strong trend in demand for tablets, smartphones and other electronic devices continued into the first quarter of 2011, leading to strong demand for the Company’s printed circuit board (“ PCB”) inspection and production solutions, in particular its laser direct imaging tools. The Company believes that direct imaging systems will continue to be one of the main growth drivers in 2011, and expects to sell in excess of 170 such systems during the year, compared with the 107 systems sold in 2010.
Orbotech Announces First Quarter 2011 Results And Updates Guidance
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