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Camtek Up 18% After Q2 Beat; Makes Bullish Remark On Pending Product

Courtesy of Benzinga.

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Camtek LTD. (NASDAQ: CAMT) shares gained 18 percent Tuesday after posting second-quarter profits that were double Wall Street views.

Israeli-based Camtek, which makes automation equipment for electronics manufacturing and packaging, also told investors that its technology testing for a key pending product called Griphon bolsters confidence that the product will soon launch and start producing revenue in 2015.

Griphon, a 3D inkjet product for computer chip solder mask manufacturing, "will be the dominant technology in the printed circuit board industry for years to come," Chief Executive Rafi Amit said in a statement.

The company posted second-quarter earnings of $0.08 per share on revenue of $23.2 million. Year-earlier earnings were $0.01 on revenue of $22 million. Analysts expected earnings of $0.04 on revenue of $23.5 million.

Small-cap Camtek is frequently volatile. For example, shares soared as much as 57 percent in a single day earlier this month on news of a product launch.

The company has also been something of a favorite of short sellers, with 1.4 million of its 30.5 million shares held as short interest earlier this year. That number has since declined, however, to about a half-million shares.

Camtek traded recently at $4.08, up 18.9 percent.

Posted-In: Earnings News Guidance Hot

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