Stock Monitor: Qualstar Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 26, 2018 / Active-Investors.com has just released a free earnings report on Orbotech Ltd (NASDAQ: ORBK). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ORBK. Orbotech reported its fourth quarter and fiscal 2017 operating and financial results on February 14, 2018. The equipment maker for electronics manufacturers outperformed top- and bottom-line expectations and provided guidance for the upcoming quarter, half year, and FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Qualstar Corporation (NASDAQ: QBAK), which also belongs to the Technology sector as the Company Orbotech. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Orbotech most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Orbotech's revenues for the fourth quarter of 2017 totaled $256.9 million, up 19% compared to $215.0 million in Q4 2016. The Company's reported numbers beat analysts' estimates of $256.1 million.
Orbotech's revenues for the full year of 2017 totaled $900.9 million, up 12% compared to $806.4 million for FY16.
During Q4 2017, Orbotech's gross profit and gross margin were $121.6 million and 47.3%, respectively, compared to $100.7 million and 46.8%, respectively, in Q4 2016.
The Company's GAAP net income were $55.9 million, or $1.14 per diluted share, compared to $25.6 million, or $0.53 per diluted share, for Q4 2016. Orbotech's GAAP results reflect a net benefit of approximately $16 million consisting of the impact of increase in deferred tax assets mainly for a valuation allowance releases and decrease in deferred tax liabilities offset by an increase in the Company's tax provisions. The valuation allowance release of $18.8 million occurred in the reported quarter and the most significant component related to the Company's carryforward losses in the United States.
Orbotech's non-GAAP earnings were $0.87 per diluted share for Q4 2017, up 24% compared to $0.70 per diluted share, for Q4 2016. The Company's earnings beat Wall Street's estimates of $0.86 per share.
For FY17, Orbotech's GAAP earnings totaled $132.4 million, or $2.71 per diluted share, compared to $79.4 million, or $1.71 per diluted share, in FY16. The Company's non-GAAP earnings in FY17 were $2.91 per diluted share, up 15% compared to $2.52 per diluted share for FY16.
For Q4 2017, Orbotech's adjusted EBITDA and adjusted EBITDA margin came in at $55.6 million and 21.6%, respectively, compared to $49.9 million and 23.2%, respectively, in Q4 2016.
Orbotech's Segment Results
During Q4 2017, the Production Solutions for Electronics Industry segment recorded:
Revenues from the printed circuit board (PCB) business of $90.4 million (including $55.0 million in equipment sales) compared to PCB revenues of $77.2 million (including $48.6 million in equipment sales) in Q4 2016. The segment's revenues from flat panel display (FPD) totaled $72.1 million (including $60.7 million in equipment sales), as compared to FPD revenues of $71.6 million (including $60.2 million in equipment sales) in the year ago corresponding period.
For Q4 2017, revenues from the semiconductor device ("SD") business of $90.3 million (including $77.8 million in equipment sales) compared to SD revenues of $62.1 million (including $48.4 million in equipment sales) in Q4 2016. Revenues in the other segments totaled $4.0 million in the reported quarter compared to $4.2 million in the year earlier same quarter.
For Q4 2017, the Company's Service segment's revenues totaled $61.0 million compared to $55.6 million in Q4 2016.
As of December 31, 2017, Orbotech had cash, cash equivalents, short-term bank deposits and marketable securities of $327.8 million, and debt of $72.5 million. During Q4 2017, the Company generated cash from operations of $84.3 million.
For the first quarter 2018, Orbotech is forecasting revenue to be in the range of $235 million to $250 million and gross margin to be in the band of 47.0%-47.5%. The Company expects H1 FY18 revenues to be approximately $500 million and gross margin in the range of 47.5%-48%. Orbotech is projecting full year 2018 revenue growth of approximately 12%-14% compared to FY17.
Stock Performance Snapshot
March 16, 2018 - At Friday's closing bell, Orbotech's stock dropped 1.27%, ending the trading session at $62.13.
Volume traded for the day: 1.20 million shares, which was above the 3-month average volume of 594.93 thousand shares.
Stock performance in the last month – up 15.87%; previous three-month period – up 21.87%; past twelve-month period – up 94.34%; and year-to-date – up 23.67%
After last Friday's close, Orbotech's market cap was at $3.05 billion.
Price to Earnings (P/E) ratio was at 22.95.
The stock is part of the Technology sector, categorized under the Diversified Electronics industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.