This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Orbotech Announces Second Quarter 2012 Results

The Company completed the quarter with cash, cash equivalents, short-term bank deposits and marketable securities of approximately $279.1 million; and debt of $80 million, compared with cash, cash equivalents, short-term bank deposits and marketable securities of approximately $267.5 million; and debt of $88 million at the end of the first quarter of 2012. The Company generated cash of $21.7 million from continuing operations in the second quarter of 2012.

Commenting on the quarter, Rani Cohen, President and Chief Executive Officer, said: “After a somewhat slow start to the year, in recent weeks we are seeing increased order activity related to our PCB equipment, in particular related to direct imaging systems for touch screen manufacturers, after the end of the quarter. In addition, FPD manufacturers are beginning to report higher levels of planned capital expenditures, which we believe will translate into new orders for the Company in the next few months. We are pleased with our cash generation and the posting of a third successive quarter of record revenues from our customer support operations, which we look on as a vote of confidence from our expanding customer base. We continue the close monitoring of our operating expenses which - net of the Korean matter - decreased as compared with the first quarter of 2012.” Mr. Cohen added: “Although we recently reduced our revenue guidance for the second half of 2012, we believe that global consumer demand for advanced mobile devices will create strong business conditions for Orbotech in the latter part of 2012 and in 2013. As in the past, we expect that our exceptional product portfolio will position us well to take advantage of existing strong consumer demand for sophisticated devices such as smartphones, tablets and other electronic devices, and anticipated demand for advanced panel devices once the FPD industry begins to recover.”

2 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs