Company Quick10K Filing
Camtek
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 37 $250
20-F 2019-03-25 Annual: 2018-12-31
20-F 2018-03-15 Annual: 2017-12-31
20-F 2017-03-15 Annual: 2016-12-31
20-F 2016-03-21 Annual: 2015-12-31
20-F 2015-03-18 Annual: 2014-12-31
20-F 2014-03-04 Annual: 2013-12-31
20-F 2013-04-11 Annual: 2012-12-31
20-F 2012-04-09 Annual: 2011-12-31
20-F 2011-04-07 Annual: 2010-12-31
20-F 2010-06-07 Annual: 2009-12-31

Camtek Financials

CAMT Metrics, Comps, Filings

Annual | Quarterly

Business

Our legal and commercial name is Camtek Ltd. We were incorporated under the laws of the State of Israel in 1987 and operate under the Companies Law. Our headquarters are located in Ramat Gavriel Industrial Zone, P.O. Box 544, Migdal Ha'Emek 23150, Israel, and our telephone number is +972-4-604-8100. Other than Israel, we currently have operations in the Asia Pacific region, North America and Europe. Our agent for service of process in the United States is Camtek USA, Inc., located at Fremont Blvd., Ste. 112, Fremont, CA 48389, Tel: (408) 987-9484. Our website is located at www.camtek.com. The information on our website is not incorporated by reference into this Annual Report. We have been a public company since July 2000; our ordinary shares are listed on the Nasdaq Global Market and on TASE (see in Item 9.A. below - "Offer and Listing Details").

In our first years of operation, we provided manual optical inspection equipment to address the needs of the PCB industry. In September 2001, we acquired a developer and producer of Inspection and Metrology ("Inspection and Metrology" previously known as "AOI") systems for the semiconductor fabrication industry. This acquisition allowed us to enter the back end semiconductor inspection market. After a period of intense internal research and development, in the fourth quarter of 2003, we shipped our first new Falcon system for the back end market of the semiconductor industry. The first revenue recognition of the Falcon system was in the second quarter of 2004. In the following years, applying our core technologies, we introduced three additional Inspection and Metrology product lines for the semiconductor industry - the Condor, the Gannet and the Eagle; sales of all four semiconductor Inspection and Metrology product lines have since accounted for a significant portion of our total sales. In 2017, we consolidated all of our products for the semiconductor industry (which, following the PCB Sale Transaction in 2017 (see in this Item 4.A below), constitute all of our product lines) under the Eagle product lines. See in Item 4.B below - "Business Overview".

In 2017, we concluded the sale of our Printed Circuit Board ("PCB") inspection business unit (the "PCB Sale Transaction"), pursuant to which we sold the entire assets and activity of our PCB business unit (including our subsidiaries in China and Taiwan which were engaged primarily in such activity), to Trophy Imaging Technology Co. Ltd., in consideration for a total cash payment of $32,000,000, and an additional cash amount of up to $3,000,000 (subject to adjustments based on predetermined criteria), the payment of which is conditioned upon the financial performance of the PCB business unit in 2018. Since the closing of the PCB Sale Transaction, we have devoted, and will continue to devote, our resources and attention to further developing and expanding our semiconductor Inspection and Metrology field of activity.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Western Digital (WDC) 13,142,250 23% 9.6 -3% 26,370,000 16,403,000 16,569,000 3,752,000 -754,000 2,113,000 20,381,250
Arrow Electronics (ARW) 6,018,707 12% 31.6 0% 16,024,369 11,255,644 29,909,166 3,575,745 3,489 281,778 8,905,992
Avnet (AVT) 4,850,736 13% 7.1 7% 8,564,556 4,424,083 19,518,592 2,486,103 580,127 847,558 6,033,972
Pure Storage (PSTG) 3,897,632 67% -29.6 -10% 2,115,974 1,378,435 1,518,022 1,014,522 -220,289 -121,988 3,613,269
II-VI (IIVI) 2,341,964 38% 10.5 6% 1,953,773 820,564 1,362,496 521,349 107,517 252,392 2,648,709
Ituran (ITRN) 727,738 0% 373,792 213,592 0 0 0 0 747,312
Nova Measuring Instruments (NVMI) 650,959 0% 333,430 52,690 0 0 0 0 626,082
Tecnoglass (TGLS) 280,920 34% 9.5 3% 580,491 398,887 415,906 139,556 16,996 52,785 500,359
Camtek (CAMT) 249,880 0% 141,547 40,140 0 0 0 0 194,945
Tessco Technologies (TESS) 161,236 20% 27.8 1% 229,554 124,669 586,624 115,924 1,895 5,842 162,166
Cyberoptics (CYBE) 120,891 44% 16.4 4% 73,355 15,428 64,766 28,743 3,219 6,783 111,227
Rada Electronic (RADA) 100,170 0% 53,502 11,641 0 0 0 0 78,408
VOXX (VOXX) 97,423 27% -1.3 -9% 498,020 106,036 439,415 119,749 -46,300 -34,293 43,278
Perceptron (PRCP) 52,193 35% -11.7 -11% 62,838 20,912 76,822 27,192 -6,791 -4,037 47,350
CUI Global (CUI) 24,912 31% -1.9 -18% 79,135 39,700 97,516 29,764 -14,566 -11,637 21,754
Taitron Components (TAIT) 18,181 46% 9.2 10% 13,668 724 7,573 3,503 1,356 1,528 14,083
Cool Holdings (AWSM) 14,408 28% -0.8 -233% 13,241 21,478 19,622 5,469 -30,834 -30,141 23,671
Qualstar (QBAK) 11,083 32% 10.7 5% 10,646 3,707 12,358 3,920 552 618 6,607
Universal Security Instruments (UUU) 2,937 31% -2.7 -8% 18,781 8,666 17,885 5,559 -1,518 -994 2,714
Richardson Electronics (RELL) 31% 13.4 -5% 153,017 29,260 166,652 51,735 -7,328 -3,138 -42,019

Balance Sheet ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash22,18518,86716,49518,22030,83319,74043,74454,935
Accounts Receivable
Inventory24,65027,59925,44821,33630,109
PP&E14,57715,82224,49313,02513,53114,10915,50317,117
Assets104,75799,00891,85096,511116,266105,540113,036141,547
Accounts Payable6,7737,6107,7539,49011,81212,98310,50215,541
Long-Term Debt3,792
Liabilities44,82438,67129,95430,77948,06432,17528,73540,140
Stockholders' Equity59,93360,33761,89665,73268,20273,36584,301101,407
Income Statement ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue18,62417,61817,54171,37115,21613,77593,485123,174
Cost of Revenue11,54911,57412,31111,42456,14965,56947,96662,378
Gross Profit47,44037,06534,40241,01943,12643,95445,51960,796
R&D14,07712,91614,37014,40614,86015,89613,53414,581
SG&A24,34121,13822,36221,41723,58725,50122,02226,182
Tax744210250575523629-4,8752,030
Net Income5,378373,337-10,1134,73413,96218,731
Cash Flow ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating9,7973,9504,6535,9531,529-17,34812,88216,791
Cash Investing-472-6,046-839-3,324-4436,235-3,222-2,259
Cash Financing3,366-1,160-5,987-25811,732-4-3,660-3,306