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Free Research Report as Orbotech’s Quarterly Revenue Jumped 19%; Adjusted EPS Advanced 24%

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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.

Cash Matters

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.

2018 Guidance

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.


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