- Camtek (NASDAQ:CAMT -17.5%) has tumbled below $2 after slightly missing Q1 estimates and guiding for Q2 revenue of $25M-$27M, in-line with a $26.2M consensus.
- Weighing on Q1 EPS: Gross margin (non-GAAP) fell to 42.3% from 45.4% in Q4 and 45.2% a year ago - Camtek blames "a specific turnkey deal from a [printed circuit board] customer with longer-term strategic value." R&D spend rose by $600K Y/Y to $4M; SG&A spend rose by $700K to $6M.
- Camtek ended Q1 with $33.7M in cash and no debt. A $14.6M payment to Rudolph Technologies (stemming from Rudolph's lawsuit against Camtek) is expected to be paid after a court provides "final guidance."
- Camtek's Q1 results, earnings release