Shares of Camtek Ltd. (NASDAQ: CAMT) surged 9.28% in pre-market trading on Monday, following the company's impressive third-quarter 2024 financial results and positive forward guidance.

The Israeli semiconductor equipment maker reported record revenues of $112.3 million for the third quarter, up a staggering 40% year-over-year. This strong performance was primarily driven by robust demand for Camtek's products in the High Performance Computing (HPC) and Advanced Packaging segments.

Camtek's profitability also saw significant improvement, with GAAP operating income rising 56% year-over-year to $29.6 million (26.4% of revenues), and non-GAAP operating income climbing 54% to $34.2 million (30.4% of revenues). Net income on a GAAP basis reached $32.7 million, or $0.67 per diluted share, up 48% from the prior year.

Looking ahead, the company provided an upbeat revenue guidance of approximately $115 million for the fourth quarter, representing a 30% year-over-year increase. Camtek expects the strong momentum in the HPC segment to continue, with its contribution expected to reach around 50% of the company's overall business in 2024.

Rafi Amit, Camtek's CEO, expressed optimism about the growing demand for the company's products, particularly in the HPC and Advanced Packaging segments. He highlighted the successful launch of Camtek's new Eagle G5 product and an advanced platform for next-generation Advanced Packaging, which have already secured initial orders from key customers.

Investors appear bullish on Camtek's prospects, as evidenced by the pre-market stock surge. The company's strong financial performance, positive outlook, and new product momentum have instilled confidence in its ability to capitalize on the growing semiconductor market opportunities.