Orbotech Ltd. (ORBK) - 500 Beiträge pro Seite

[panik]

Profile:Orbotech Ltd. is principally engaged in the design, development, manufacture and marketing of yield-enhancing production support solutions for specialized applications in the supply chain of the electronics industry. The Company`s products include automated optical inspection and process control systems for bare and assembled printed circuit boards (PCBs) and for flat panel displays, as well as imaging solutions for PCB production. In addition, it markets computer-aided manufacturing solutions for PCB production. Through its subsidiary, Orbograph Ltd., the Company also develops and markets automatic check reading software to banks and other check processing organizations. Orbotech is continuing to develop its proprietary technologies for use in other applications both within and outside the electronics industry. It also derives a significant portion of its revenues from the service and support of its products.

http://www.orbotech.com

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Orbotech Receives Major AOI Order for LCD-TV Production from AU Optronics
Wednesday March 31, 4:55 am ET
-- The leading Taiwanese TFT LCD manufacturer selects additional Orbotech AOI Systems for new 6th Generation fab --


YAVNE, Israel--(BUSINESS WIRE)--March 31, 2004-- ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK - News) today announced the receipt of major order for AOI systems from AU OPTRONICS (TAIEX: 2409; NYSE: AUO). This automated optical inspection ("AOI") equipment is to be utilized in Taiwan`s first sixth generation TFT-LCD fab currently under construction by AU Optronics at the Taichung Science Park in Central Taiwan. Delivery is expected in the later part of 2004.
Mr. Nobuhiro Higashiiriki, President of Orbotech`s Display Asia Pacific Division, commented: "AU Optronics is a long-standing, highly respected customer of Orbotech, and a technological leader and innovator in the Taiwanese TFT-LCD industry. We are very proud to be able to continue working with them as they expand their capabilities for the next generation."

Mr. Assaf Eyal, Co-President of the Display Division at Orbotech Ltd., added: "We are confident that our proven AOI solutions for Gen 6 will play an important role in the success of AU Optronics` new fab. This large order for FPD-AOI equipment is one of several recently received by Orbotech, reflecting the industry`s major production build-up and capital investment in anticipation of very high future demand for LCD TVs."

Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties which could cause the actual results to differ materially from those projected, including industry trends, the timing and strength of product and service offerings, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis and other risks detailed from time to time in the Company`s SEC reports. The Company assumes no obligation to update the information in this press release.

Orbotech is a world leader in providing yield-enhancing, production support solutions for specialized applications in the supply chain of the electronics industry, principally for printed circuit boards (PCBs) and flat panel displays (FPDs). The Company designs, develops, manufactures, markets and services automated optical inspection (AOI) systems for bare and assembled PCBs and for FPDs, and imaging solutions for PCB production. The Company`s innovative AOI, imaging and computer-aided manufacturing (CAM) technologies enable customers to achieve the increased yields and throughput essential to remaining at the forefront of electronics production. Through its subsidiary, Orbograph Ltd., the Company also develops and markets automatic check reading software to banks and other check processing organizations. Of Orbotech`s employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide sophisticated solutions and technologies designed to meet customers` long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. The Company`s extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit www.orbotech.com.



--------------------------------------------------------------------------------
Contact:
Orbotech Ltd.
Investor Relations:
Adrian Auman, [phone]
or
Michelle Harnish, [phone]
or
Amichai Steinberg, [phone]
www.orbotech.com



--------------------------------------------------------------------------------
Source: Orbotech Ltd.

[gaytrad]

Samsung Electro-Mechanics Places Major Order for Orbotech Direct Imaging Systems
Wednesday March 17, 9:42 am ET


YAVNE, Israel--(BUSINESS WIRE)--March 17, 2004--ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK - News) today announced the receipt of a major order from SAMSUNG ELECTRO-MECHANICS CO. LTD. (SEM) for multiple DP-100SL(TM) direct imaging systems with solid state laser to be utilized for the manufacture of high-end technology applications at SEM`s mass production plant in Korea.
ADVERTISEMENT


Commenting on the order, Mr. Shin Il Woon, President of SEM`s HDI Division, said: "Our existing DP-100(TM) system enables us to achieve excellent results on complex technology compared with traditional imaging techniques. We expect that these additional DP-100SL systems will make possible the successful production of our most advanced, high-end applications with the highest yields."

Mr. Lior De-Picciotto, President of Orbotech Pacific Ltd., stated: "We are very pleased that our laser direct imaging (LDI) technology is making a valuable contribution to the success of SEM`s high-end production. We are honored to receive this additional order."

"This is the largest single order for our LDI systems to date", added Mr. Asher Levy, President of the PCB Division at Orbotech Ltd. "Our new DP-100SL(TM) with solid state laser, featuring improved cost performance through reduced service and site preparation requirements, has been enthusiastically embraced by the market since its introduction only a few months ago. The accelerated level of LDI sales activity, particularly for multi-system and repeat orders for use in mainstream, volume production, is a strong indicator of the industry`s acceptance of this technology as a necessary production tool."

As an internationally recognized top ten manufacturer and supplier of state-of-the-art electronics components, Samsung Electro-Mechanics Co. Ltd. (Korea Stock Exchange: 09150.KS) is continually striving to be at the top of the global electronics industry. SEM has been a leader in the electronics industry since 1973 and can almost single handedly take credit for the entire history of the Korean electronics components industry. With the new millennium, SEM is determined to be a leader in the 21st century digital era, while continuously increasing consumer satisfaction and shareholder value and generating higher added-value by contributing to the development of the electronics world. For more information, visit www.sem.samsung.co.kr.

Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties which could cause the actual results to differ materially from those projected, including industry trends, the timing and strength of product and service offerings, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis and other risks detailed from time to time in the Company`s SEC reports. The Company assumes no obligation to update the information in this press release.

Orbotech is a world leader in providing yield-enhancing, production support solutions for specialized applications in the supply chain of the electronics industry, principally for printed circuit boards (PCBs) and flat panel displays (FPDs). The Company designs, develops, manufactures, markets and services automated optical inspection (AOI) systems for bare and assembled PCBs and for FPDs, and imaging solutions for PCB production. The Company`s innovative AOI, imaging and computer-aided manufacturing (CAM) technologies enable customers to achieve the increased yields and throughput essential to remaining at the forefront of electronics production. Through its subsidiary, Orbograph Ltd., the Company also develops and markets automatic check reading software to banks and other check processing organizations. Of Orbotech`s employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide sophisticated solutions and technologies designed to meet customers` long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. The Company`s extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit www.orbotech.com.



--------------------------------------------------------------------------------
Contact:
Orbotech Ltd.
Adrian Auman, [phone]
Corporate Vice President
Investor Relations, Director of Finance
or
Orbotech Ltd.
Amichai Steinberg, [phone]
CFO and Corporate VP Finance
www.orbotech.com
or
Orbotech, Inc.
Michelle Harnish, 978-901-5120
Marketing Communications Manager



--------------------------------------------------------------------------------
Source: Orbotech Ltd.

[panik]

Tuesday , March 30, 2004 04:02 ET

TAIPEI, Mar 30, 2004 (AFX-ASIA via COMTEX) -- Chunghwa Picture Tubes Ltd (2475.TW), a maker of thin-film-transistor liquid crystal display (TFT-LCD) panels, said it bought machinery from Orbotech Asia, a unit of Israel-based Orbotech Ltd, for a total of 641.58 mln twd today.

Chunghwa Picture closed limit-up 1.30 twd at 20.30.

(1 usd = 33.20 twd)

[e-mail]

pw/swp

By Staff Reporter


(C) 2004 XFN, Inc. All rights reserved.

[panik]

Orbotech Announces Second Quarter 2004 Results
Monday August 2, 4:56 am ET


YAVNE, Israel--(BUSINESS WIRE)--Aug. 2, 2004--ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBK - News) today announced its consolidated financial results for the second quarter and six months ended June 30, 2004.
Revenues for the second quarter of 2004 totaled $77.5 million, compared to $67.2 million recorded in the first quarter of 2004 and $54.6 million in the second quarter a year ago. Net income for the second quarter of 2004 was $8.6 million, or $0.26 per share (diluted), compared to net income of $5.1 million, or $0.15 per share (diluted), in the first quarter of 2004 and $1.2 million, or $0.04 per share (diluted), in the second quarter of 2003.

Revenues for the first six months of 2004 totaled $144.7 million, compared to $108.8 million recorded in the first half of 2003. Net income for the first six months of 2004 was $13.6 million, or $0.41 per share (diluted), compared to net income of $2.3 million, or $0.07 per share (diluted), in the first six months of 2003.

Sales of equipment to the printed circuit board ("PCB") industry relating to bare PCBs were $29.4 million in the second quarter of 2004, compared to $23.2 million in the first quarter of 2004, and $18.5 million in the second quarter of 2003. Sales of flat panel display ("FPD") inspection equipment were $20.7 million, compared to $18.7 million in the first quarter of 2004, and $12.0 million in the second quarter of last year. Sales of equipment to the PCB industry relating to assembled PCBs were $8.8 million, compared to $6.6 million in the first quarter this year, and $6.1 million in the second quarter of 2003. Sales of automatic check reading products were $1.3 million in the second quarter of 2004, compared to $1.9 million in the first quarter of 2004, and $1.8 million recorded in the second quarter of 2003. In addition, service revenue for the second quarter increased to $17.3 million from $16.8 million in the first quarter of 2004, and $16.2 million in the second quarter of 2003.

The Company completed the quarter with cash, cash equivalents and marketable securities of approximately $166 million, compared to $152 million at the end of the first quarter, due principally to a positive operating cash flow of approximately $15 million for the quarter.

The Company`s results for the quarter reflect the improved business climate prevalent throughout the electronics industry, which has led to increased capital expenditures across the PCB and FPD industries that the Company serves.

Revenues from sales of the Company`s PCB-AOI products, notably the Spiron AOI series and the solid state laser direct imaging systems, both of which have been designed to meet the complex technological needs of PCB manufacturers, increased by over 25% sequentially. In addition, revenues from sales of the Company`s assembled PCB products experienced similar increases, reflecting the growing awareness and acceptance of AOI as an integral part of the manufacturing process. During the second quarter the Company continued to record strong bookings for its FPD products, primarily as a result of the combined effects of manufacturers` ongoing, strategic investments in new sixth and seventh generation fabrication facilities for TFT-LCD televisions - which are continuing as planned - and the highly sophisticated technological solutions which the Company can offer these manufacturers.

Commenting on the results, Yochai Richter, Chief Executive Officer, said: "We are pleased with our financial results for the quarter. We are feeling the effects of the recovery in the electronics industry and are also benefiting from our continued selective investments in research and development. These have enabled us to offer innovative products that answer our customers needs which, in turn, reinforces our leadership position at the forefront of those industries we serve. Our confidence in the long-term growth prospects of these industries continues to be high."

An earnings conference call is scheduled for Monday, August 2, 2004, at 9:00 a.m. EST. The dial-in number for the conference call is 630-395-0017, and a replay will be available, until August 16, 2004, on telephone number 203-369-0010. The pass code is Q2. A live web cast of the conference call and replay can also be heard by accessing the investor relations section on the Company`s website at www.orbotech.com.

Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties which could cause the actual results to differ materially from those projected, including industry trends, the timing and strength of product and service offerings, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis and other risks detailed from time to time in the Company`s SEC reports. The Company assumes no obligation to update the information in this press release.

Orbotech is a world leader in providing yield-enhancing, production support solutions for specialized applications in the supply chain of the electronics industry, principally for printed circuit boards (PCBs) and flat panel displays (FPDs). The Company designs, develops, manufactures, markets and services automated optical inspection (AOI) systems for bare and assembled PCBs and for FPDs, and imaging solutions for PCB production. The Company`s innovative AOI, imaging and computer-aided manufacturing (CAM) technologies enable customers to achieve the increased yields and throughput essential to remaining at the forefront of electronics production. Through its subsidiary, Orbograph Ltd., the Company also develops and markets automatic check reading software to banks and other check processing organizations. Of Orbotech`s employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide sophisticated solutions and technologies designed to meet customers` long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. The Company`s extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit www.orbotech.com.

ORBOTECH LTD.
CONDENSED CONSOLIDATED BALANCE SHEET
AT JUNE 30, 2004

June 30 December 31
2004 2003
----------- -----------
(Unaudited) (Audited)
----------- -----------
U.S. dollars in thousands
-------------------------
Assets
------

CURRENT ASSETS:
--------------
Cash and cash equivalents 130,238 124,937
Marketable securities 4,491 10,999
Short-term bank deposits 6,900
Accounts receivable:
Trade 97,187 91,560
Other 19,071 18,250
Deferred income taxes 2,677 3,391
Inventories 62,375 52,990
--------- ---------
Total current assets 316,039 309,027
--------- ---------

INVESTMENTS AND NON-CURRENT ASSETS:
-----------------------------------
Marketable securities 30,854 15,829
Investments in companies 11,026 10,560
Non-current trade receivables 797 249
Severance pay fund 13,735 13,891
Deferred income taxes 4,379 4,749
--------- ---------
60,791 45,278
--------- ---------

PROPERTY, PLANT AND EQUIPMENT, net of
------------------------------
accumulated depreciation and amortization 17,795 18,604
--------- ---------

GOODWILL AND OTHER INTANGIBLE ASSETS, net of
-------------------------------------
accumulated amortization 12,385 13,539
--------- ---------

--------- ---------
407,010 386,448
========= =========


Liabilities and shareholders` equity
------------------------------------

CURRENT LIABILITIES:
--------------------
Current maturity of long-term liability 6,151
Accounts payable and accruals:
Trade 27,033 19,178
Other 48,186 44,890
--------- ---------
Total current liabilities 75,219 70,219

ACCRUED SEVERANCE PAY 22,764 22,685
---------------------

--------- ---------
Total liabilities 97,983 92,904
--------- ---------

MINORITY INTEREST IN CONSOLIDATED SUBSIDIARY 499 455
-------------------------------------------- --------- ---------

SHAREHOLDERS` EQUITY:
---------------------
Share capital 1,618 1,616
Additional paid-in capital 98,005 97,615
Deferred stock compensation (568) (921)
Retained earnings 231,781 218,146
Accumulated other comprehensive income 16 (1,043)
--------- ---------
330,852 315,413
Less treasury stock, at cost (22,324) (22,324)
--------- ---------
Total shareholders` equity 308,528 293,089
--------- ---------

--------- ---------
407,010 386,448
========= =========


ORBOTECH LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
FOR THE SIX MONTH AND THREE MONTH PERIODS ENDED JUNE 30, 2004


12 months
6 months ended 3 months ended ended
June 30 June 30 December 31
-------------- --------------- -----------
2004 2003 2004 2003 2003
---- ---- ---- ---- ----
(Unaudited) (Unaudited) (Audited)
--------------- --------------- -----------
U.S. dollars in thousands (except per share data)
-------------------------------------------------

REVENUES 144,709 108,822 77,509 54,610 228,392
-------- -------- -------- ------- ------- --------

COST OF REVENUES:
-----------------
COST 80,104 63,146 42,603 31,859 130,917
---
WRITE-OFF OF
INVENTORIES 7,448
-------------

-------- -------- ------- ------- --------
80,104 63,146 42,603 31,859 138,365
-------- -------- ------- ------- --------

-------- -------- ------- ------- --------
GROSS PROFIT 64,605 45,676 34,906 22,751 90,027
------------

RESEARCH AND
DEVELOPMENT COSTS -
net 22,838 19,752 11,689 9,944 39,456
------------------

SELLING, GENERAL AND
ADMINISTRATIVE
EXPENSES 25,286 23,300 12,946 11,415 48,000
--------------------

AMORTIZATION OF OTHER
INTANGIBLE
ASSETS 1,154 1,200 577 600 2,400
--------------------

RESTRUCTURING COSTS 3,786
--------------------


OPERATING INCOME -------- -------- ------- ------- --------
(LOSS) 15,327 1,424 9,694 792 (3,615)
----------------

FINANCIAL INCOME
- net 585 1,454 281 726 2,379
----------------

OTHER EXPENSES (696)
--------------


INCOME (LOSS)
BEFORE TAXES
ON INCOME -------- -------- ------- ------- --------
------------- 15,912 2,878 9,975 1,518 (1,932)


TAXES ON INCOME 2,205 396 1,453 206 61
---------------

INCOME (LOSS) FROM
OPERATIONS OF THE
COMPANY AND
ITS SUBSIDIARIES -------- -------- ------- ------- --------
AND JOINT VENTURE 13,707 2,482 8,522 1,312 (1,993)
------------------

MINORITY SHARE IN
PROFITS OF
CONSOLIDATED
SUBSIDIARY (44) (16) (455)
-----------------

SHARE IN PROFITS
(LOSSES) OF
ASSOCIATED COMPANY (28) (222) 59 (79) (507)
-------------------


NET INCOME (LOSS) -------- -------- ------- ------- --------
FOR THE PERIOD 13,635 2,260 8,565 1,233 (2,955)
---------------- ======== ======== ======= ======= ========


EARNINGS (LOSS) PER
SHARE:
-------------------
BASIC $ 0.42 $ 0.07 $ 0.27 $ 0.04 ($ 0.09)
----- ======== ======== ======= ======= ========

DILUTED $ 0.41 $ 0.07 $ 0.26 $ 0.04 ($ 0.09)
------- ======== ======== ======= ======= ========


WEIGHTED AVERAGE NUMBER
OF SHARES (IN
THOUSANDS) USED IN
COMPUTATION OF
EARNINGS (LOSS) PER
SHARE:
--------------------
BASIC 32,163 31,983 32,163 31,983 32,031
----- ======== ======== ======= ======= ========

DILUTED 33,056 32,153 32,883 32,202 32,031
------- ======== ======== ======= ======= ========



--------------------------------------------------------------------------------
Contact:
Orbotech Ltd.
Adrian Auman, [phone]
Amichai Steinberg, [phone]
www.orbotech.com
or
Orbotech, Inc.
Michelle Harnish, [phone]



--------------------------------------------------------------------------------
Source: Orbotech Ltd.