Camtek Announces Results For The Third Quarter Of 2020

This press release provides financial measures that exclude: (i) share based compensation expenses; (ii) certain Chroma transaction expenses; and (iii) discontinued operations, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release.

 

CAMTEK LTD. and its subsidiaries
Consolidated Balance Sheets

(In thousands)




September 30,

December 31,


2020

2019


U.S. Dollars (In thousands)

Assets






Current assets



Cash and cash equivalents

26,042

38,047

Short-term deposits

80,000

51,500

Trade accounts receivable, net

33,747

31,443

Inventories

34,436

23,803

Other current assets

3,032

2,909


Total current assets

177,257

147,702



Fixed assets, net

18,886

18,526


Long term inventory

4,090

2,791

Deferred tax asset, net

8

746

Other assets, net

80

113

Intangible assets, net

619

491



4,797

4,141


Total assets

200,940

170,369


Liabilities and shareholders' equity




Current liabilities



Trade accounts payable

20,468

11,334

Other current liabilities

24,283

20,272


Total current liabilities

44,751

31,606


Long term liabilities



Other long term liabilities

2,191

2,461


2,191

2,461


Total liabilities

46,942

34,067


Commitments and contingencies




Shareholders' equity



Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at September 30, 2020 and at December 31, 2019;



41,303,757 issued shares at September 30, 2019 and 40,742,355 at December 31, 2019;



39,211,381 shares outstanding at September 30, 2020 and 38,649,979 at December 31, 2019

 

159

 

157

Additional paid-in capital

104,909

101,327

Retained earnings

50,828

36,716


155,896

138,200

Treasury stock, at cost (2,092,376  as of September 30, 2020 and December 31, 2019)

 

(1,898)

 

(1,898)


Total shareholders' equity

153,998

136,302


Total liabilities and shareholders' equity

200,940

170,369



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