This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Camtek Announces Third Quarter 2012 Results

Stocks in this article: CAMT

Use of non-GAAP Measures

This press release provides financial measures that exclude certain items such as: (i) amortization of acquired intangible assets and revaluation of liabilities with respect to the acquisitions of Sela and Printar; and (ii) share based compensation expenses. and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these Non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors.A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release.

Consolidated Balance Sheets

(in thousands)

                                                 September    December 31,                 
                                                      2012            2011
                                               U.S. Dollars (in thousands)
    Current assets
    Cash and cash equivalents                        19,155        22,185
    Short-term deposits                               6,160         4,100
    Accounts receivable, net                         27,085        25,451
    Inventories                                      26,714        24,355
    Due from affiliates                                 617           388
    Other current assets                              4,321         3,357
    Deferred tax asset                                  110           110
    Total current assets                             84,162        79,946
    Fixed assets, net                                14,273        14,577
    Long term inventory                               2,711         1,954
    Deferred tax asset                                  132           132
    Other assets, net                                   304           304
    Intangible assets, net *                          4,052         4,191
    Goodwill                                          3,653         3,653
                                                     10,852        10,234
    Total assets                                    109,287       104,757
    Liabilities and shareholders' equity
    Current liabilities
    Short term bank loans                             4,160         3,000
    Accounts payable - trade                         10,967         6,773
    Long term bank loans - current portion            1,700         1,700
    Other current liabilities                        18,361        21,568
    Total current liabilities                        35,188        33,041
    Long term liabilities
    Long term bank loans                                817         2,092
    Liability for employee severance benefits           686           652
    Other long term liabilities *                     9,071         9,039
                                                     10,574        11,783
    Total liabilities                                45,762        44,824
    Commitments and contingencies
    Shareholders' equity
    Ordinary shares NIS 0.01 par value,
    authorized 100,000,000 shares,
    31,986,005 issued as September 30, 2012
    and 31,810,340 as of December 31, 2011,
    outstanding 29,893,629 as of September 30,
    2012 and 29,717,964 as of December 31l 2011         133          133
    Additional paid-in capital                       61,323       61,014
    Accumulated income                                3,967          684
                                                     65,423       61,831
    Treasury stock, at cost (2,092,376
    as of September 30, 2012
    and December 31, 2011)                          (1,898)      (1,898)
    Total shareholders' equity                       63,525       59,933
    Total liabilities and shareholders' equity      109,287      104,757

  (*)  Relates to Printar and SELA acquisitions

3 of 4

Select the service that is right for you!

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 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • 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