Camtek Announces Third Quarter 2016 Results

 

  1. During each of the three and nine months periods ended September 30, 2016, the Company recorded reorganization costs with regard to the FIT activities of $0.9 million consisting of: (1) inventory and fixed asset write-offs of $4.9 million recorded under cost of revenues line item; (2) other expenses of $0.1 million recorded under cost of revenues line item; (3) fixed asset write-offs of $0.7 million recorded under operating expenses; (4) other expenses of $0.2 million recorded under operating expenses; and (5) income from write-off of liabilities to OCS of $5.0 million recorded under operating expenses.
  2. During the three and the nine months ended September 30, 2016 and 2015 and the twelve months ended December 31, 2015, the Company recorded acquisition expenses of $0 million, $0.2 million, $0.1 million, $0.5 million and $0.8 million, respectively, consisting of: (1) Revaluation adjustments of $0 million, $0.2 million, $0.1 million, $0.3 million and $0.6 million, respectively, of contingent consideration and certain future liabilities recorded at fair value. These amounts are recorded under finance expenses line item; (2) Implication of re-organization and impairment charges of $0, $0, $0, $0 and $0.1 million, respectively.
  3. During the year ended December 31, 2015, the Company recorded inventory write downs in the amount of $1.0 million, recorded under cost of revenues line item.
  4. During the year ended December 31, 2015, the Company recorded a provision of $14.6 million  ($13.3 million net of tax) in conjunction with the final court ruling on February 3, 2016 in Camtek's appeal in the patent infringement case of Rudolph Technologies Inc. regarding the Falcon system.

 

 

CAMTEK LTD.


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To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/camtek-announces-third-quarter-2016-results-300358228.html

SOURCE Camtek Ltd

Contact:
Camtek Ltd
Web: http://www.camtek.com



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