Camtek Ltd. Files Routine 6-K Report

TL;DR

Camtek Ltd. filed a standard 6-K, no major news, just routine reporting.

AI Summary

On May 9, 2024, Camtek Ltd. filed a Form 6-K report with the SEC. This report is for the month of May 2024 and indicates that Camtek Ltd. is a foreign private issuer filing annual reports under Form 20-F. The filing does not contain specific financial figures or operational updates beyond its routine reporting status.

Why It Matters

This filing confirms Camtek Ltd.'s status as a foreign private issuer and its adherence to SEC reporting requirements, which is important for investors tracking the company's regulatory compliance.

Risk Assessment

Risk Level: low — This is a routine filing that does not contain new material information or significant financial updates.

Key Players & Entities

• Camtek Ltd. (company) — Registrant
• 0001109138 (company) — Central Index Key
• 3827 (company) — Standard Industrial Classification (Optical Instruments & Lenses)
• 20240509 (date) — Filing Date

FAQ

Key Financial Figures

• $100 — QUARTER OF 2024 Q2 revenue guidance of $100-102 million - 37% YoY growth - driven b
• $97.0 m — rst Quarter of 2024 Record revenues of $97.0 million, a 34% year-over-year (YoY) incre
• $21.2 million — oY) increase; GAAP operating income of $21.2 million (up 50% YoY) and non-GAAP operating pro
• $29.0 million — % YoY) and non-GAAP operating profit of $29.0 million (up 67% YoY), representing operating ma
• $24.8 million — 9.9%, respectively; GAAP net income of $24.8 million and non-GAAP net income of $31.3 millio
• $31.3 million — 24.8 million and non-GAAP net income of $31.3 million; and Strong positive operating cash fl
• $20.2 million — Strong positive operating cash flow of $20.2 million. Forward-Looking Expectations Managem
• $500 million — milestone of annual sales in excess of $500 million." First Quarter 2024 Financial Result
• $97.0 million — nues for the first quarter of 2024 were $97.0 million. This compares to first quarter 2023 re
• $72.5 m — pares to first quarter 2023 revenues of $72.5 million, a year-over-year growth of 34%.
• $44.7 million — on a GAAP basis in the quarter totaled $44.7 million (46.1% of revenues), an increase of 32%
• $33.9 million — se of 32% compared to a gross profit of $33.9 million (46.7% of revenues) in the first quarte
• $49.1 million — a non-GAAP basis in the quarter totaled $49.1 million (50.6% of revenues), an increase of 43%
• $34.3 million — se of 43% compared to a gross profit of $34.3 million (47.3% of revenues) in the first quarte
• $14.2 million — 50% compared to an operating profit of $14.2 million (19.6% of revenues) in the first quarte

Filing Documents

• zk2431438.htm (6-K) — 302KB
• image00002.jpg (GRAPHIC) — 230KB
• 0001178913-24-001661.txt ( ) — 619KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the Month of May 2024 CAMTEK LTD. (Translation of Registrant's Name into English) Ramat Gavriel Industrial Zone P.O. Box 544 Migdal Haemek 23150 ISRAEL (Address of Principal Corporate Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities and Exchange Act of 1934. Yes No SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. This Form 6-K, including all exhibits hereto, is hereby incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933. CAMTEK LTD. (Registrant) By: /s/ Moshe Eisenberg —————————————— Moshe Eisenberg, Chief Financial Officer Dated: May 9, 2024 Camtek Ltd. P.O.Box 544, Ramat Gabriel Industrial Park Migdal Ha'Emek 23150, ISRAEL Tel: +972 (4) 604-8100 Fax: +972 (4) 644-0523 E-Mail: Info@camtek.com Web site: http://www.camtek.com CAMTEK LTD. Moshe Eisenberg, CFO Tel: +972 4 604 8308 Mobile: +972 54 900 7100 moshee@camtek.com INTERNATIONAL INVESTOR RELATIONS EK Global Investor Relations Ehud Helft Tel: (US) 1 212 378 8040 camtek@e kgir.com FOR IMMEDIATE RELEASE CAMTEK ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 2024 Q2 revenue guidance of $100-102 million - 37% YoY growth - driven by HBM and Chiplets MIGDAL HAEMEK, Israel – May 9, 2024 – Camtek Ltd. (NASDAQ: CAMT; TASE: CAMT), today announced its financial results for the first quarter, ended March 31, 2024. Highlights of the First Quarter of 2024 Record revenues of $97.0 million, a 34% year-over-year (YoY) increase; GAAP operating income of $21.2 million (up 50% YoY) and non-GAAP operating profit of $29.0 million (up 67% YoY), representing operating margins of 21.9% and 29.9%, respectively; GAAP net income of $24.8 million and non-GAAP net income of $31.3 million; and Strong positive operating cash flow of $20.2 million. Forward-Looking Expectations Management expects revenues in the second quarter of 2024 between $100-102 million, representing a 37% mid-point increase over the second quarter of 2023. Given the significant visibility and strong ongoing order flow, continued sequential growth is expected throughout 2024. Management Comment Rafi Amit, Camtek's CEO commented , "I am pleased with the record revenues in the first quarter driven by strong demand for HBM and chiplets applications, which accounted for 60% of our business. The field of AI is changing our industry and Camtek is well positioned to benefit from this transformative trend. AI technology needs High Performance Computing (HPC) capabilities, which are based on architectures utilizing High Bandwidth Memory (HBM) and Chiplet devices as key components. The on-going surge in demand for HPC and our leading position at all tier-1 manufacturers continue to be the main drivers behind our strong results and outlook." Concluded Mr. Amit, "Looking beyond 2024, as AI continues to transform the industry, we are very confident in our ability to capitalize on the trend and grow towards the milestone of annual sales in excess of $500 million." First Quarter 2024 Financial Results Revenues for the first quarter of 2024 were $97.0 million. This compares to first quarter 2023 revenues of $72.5 million, a year-over-year growth of 34%. Gross profit on a GAAP basis in the quarter totaled $44.7 million (46.1% of revenues), an increase of 32% compared to a gross profit of $33.9 million (46.7% of revenues) in the first quarter of 2023. Gross profit on a non-GAAP basis in the quarter totaled $49.1 million (50.6% of revenues), an increase of 43% compared to a gross profit of $34.3 million (47.3% of revenues) in the first quarter of 2023. Operating profit on a GAAP basis in the quarter totaled $21.2 million (21.9% of revenues), an increase of 50% compared to an operating profit of $14.2 million (19.6% of revenues) in the first quarter of 2023. Operating profit on a non-GAAP basis in the quarter totaled $29.0 million (29.9% of revenues), an increase of 67% compared to $17.4 million (24.0% of revenues) in the first quarter of 2023. Net income on a GAAP basis in the quarter totaled $24.8 million, or $0.51 per diluted share, an increase of 21% compared to net income of $17.2 million, or $0.36 per diluted share, in the first quarter of 2023. Net income on a non-GAAP basis in the quarter totaled $31.3 million, or $0.64 per diluted s

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