Camtek Ltd (NASDAQ:CAMT) Q3 2023 Results Conference Call November 14, 2023 9:00 AM ET
Company Participants
Kenny Green - IR
Rafi Amit - CEO
Moshe Eisenberg - CFO
Ramy Langer - COO
Conference Call Participants
Brian Chin - Stifel
Tom O'Malley - Barclays
Craig Ellis - B. Riley
Gus Richard - Northland Gus
Vedvati Shrotre - Jefferies
Vivek Arya - Bank of America Securities.
Kenny Green
Hello, everyone, and good morning. Hosting today's call is Rafi Amit, Camtek's Chief Executive Officer; Ramy Langer, Chief Operating Officer; and Moshe Eisenberg, Chief Financial Officer.
Before we start, I would like to note that certain statements made on this call constitute forward-looking statements within the meaning of the Securities Act of 1933 as amended and the Securities Exchange Act of 1934 as amended and the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such statements may use terminology such as believes, expects, will, may, should, anticipates, plans, or similar expressions to identify forward-looking statements. Such statements reflect only current beliefs, expectations, and assumptions of Camtek. However, actual results, performance, or the achievements of Camtek may differ materially as they are subject to certain risks and uncertainties. Such risks and uncertainties include, but are not limited to, those that are described in Camtek's most recent annual report on Form 20-F and as may be supplemented from time to time in Camtek's other filings with the SEC, including today's earlier filing of the earnings PR, all of which are expressly incorporated herein by reference.
Camtek undertakes no obligation to update any such forward-looking statements unless required by law. Camtek's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Camtek's website at www.camtech.com.
Also, on today's call, we will include certain non-GAAP numbers. A reconciliation between the GAAP and non-GAAP results, please see the table attached in today's press release, which is also posted in the investor relations section of Camtek's website. So with us today, we have Moshe Eisenberg, CFO; Rafi Amit, CEO; and Ramy Langer, COO.
And I would now like to turn the call over to Rafi Amit. Rafi, you may go ahead.
Rafi Amit
Okay. Thanks, Kenny. Good morning or good afternoon, everyone. Camtek closed the third quarter with revenue of $8.5 million. Gross margin came in at 49%, which is a continued improvement over previous quarters as we indicated earlier this year. Operating margin was 28%. Over 60% of our revenues came from advanced interconnect packaging applications, which with a significant portion coming from HBM and Chiplet modules.