per diluted share          2.05      1.39       0.75       0.51          1.96 
Gross margin on GAAP 
 basis                    48.7 %    47.5 %     49.7 %     48.5 %        46.8 % 
Reported gross profit 
 on GAAP basis           151,819   107,845     55,856     39,008       147,633 
Acquisition of FRT 
 related expenses 
 (1)                       5,192         -        610          -         3,492 
Share-based 
 compensation              1,602     1,196        596        389         1,591 
Non- GAAP gross 
 profit                  158,613   109,041     57,062     39,397       152,716 
Non-GAAP gross margin     50.8 %    48.1 %     50.8 %     49.0 %        48.4 % 
                       =========  ========  =========  =========  ============ 
 
Reported operating 
income attributable 
to Camtek Ltd. on 
GAAP basis                76,769    48,193     29,646     19,065        65,412 
Acquisition of FRT 
 related expenses 
 (1)                       6,527         -        928          -         5,406 
Share-based 
 compensation             10,723     9,657      3,614      3,137        12,525 
Non-GAAP operating 
 income                   94,019    57,850     34,188     22,202        83,343 
                       =========  ========  =========  =========  ============ 
 
(1) During the nine-month period ended September 30, 2024, the Company 
recorded acquisition-related expenses of $4.7 million, consisting of: (1) 
inventory written-up to fair value in purchase accounting charges of $3.4 
million. This amount is recorded under cost of revenues line item. (2) $1.8 
million amortization of intangible assets acquired recorded under cost of 
revenues line item. (3) $0.9 million amortization of intangible assets 
acquired recorded under sales and marketing expenses line item. (4) $0.4 
million re-organization expenses, recorded under the general and 
administrative expenses line item. (5) $1.8 million reversal of tax provision 
related to the above adjustment, recorded under the tax expense line item. 
During the three-month period ended September 30, 2024, the Company recorded 
acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million 
amortization of intangible assets acquired recorded under cost of revenues 
line item. (2) $0.3 million amortization of intangible assets acquired 
recorded under sales and marketing expenses line item. (3) $0.3 million 
reversal of tax provision related to the above adjustment, recorded under the 
tax expense line item. During the year ended December 31, 2023, the Company 
recorded acquisition expenses of $4.5 million, consisting of: (1) inventory 
written-up to fair value in purchase accounting charges of $2.2 million. This 
amount was recorded under cost of revenues line item. (2) $0.4 million 
amortization of intangible assets acquired recorded under cost of revenues 
line item. (3) Inventory write-off of $0.9 million recorded under costs of 
revenues line item. (4) $0.2 million amortization of intangible assets 
acquired recorded under sales and marketing expenses line item. (5) 
Acquisition expenses of $1.7 million recorded under general and administrative 
expenses line item. (6) $0.9 million reversal of tax provision related to the 
above adjustment, recorded under the tax expense line item. 
 
 
 CAMTEK LTD.                INTERNATIONAL INVESTOR RELATIONS 
  Moshe Eisenberg, CFO       EK Global Investor Relations 
  Tel: +972 4 604 8308       Ehud Helft 
  Mobile: +972 54 900 7100   Tel: (US) 1 212 378 8040 
  moshee@camtek.com          camtek@ekgir.com 
 

Logo - https://mma.prnewswire.com/media/1534463/Camtek_logo.jpg

View original content:https://www.prnewswire.com/news-releases/camtek-announces-results-for-the-third-quarter-of-2024-302302433.html

SOURCE Camtek Ltd.

(END) Dow Jones Newswires

November 12, 2024 06:30 ET (11:30 GMT)