NEW YORK - Orbotech Ltd., which makes testing equipment used to make printed circuit boards and flat-panel displays, said Monday first-quarter profit fell 34 percent as rising costs and expenses outweighed higher revenue.
| ORBK | 4.47 |
Net income for the three months ended March 31 fell to $3.7 million, or 11 cents per share, compared with $5.6 million, or 17 cents per share, in the 2007 quarter, the Yavne, Israel-based company said.
Analysts polled by Thomson Financial expected, on average, earnings per share of 10 cents.
Orbotech's cost of revenues increased to $59.6 million from $49.9 million, and selling, general and administrative expenses rose to $17.9 million from $16.4 million.
The company estimated that the weaker dollar cut earnings per share by 4 cents.
Revenue rose to $100.5 million from $86.1 million. Analysts expected revenue of $94.9 million.
Sales of medical imaging equipment, a business Orbotech acquired in August 2007, were $7.3 million. Sales of equipment to the printed circuit board industry, relating to assembled boards, rose to $8.1 million compared with $6.8 million in the year-earlier quarter.

The new chief executive of Royal Dutch Shell Plc faces the tallest order in Euro...
Cisco live 2009 website is down and nobody can access the site for the latest in...


Effective and Affordable Press Release Distribution Service
Can predict currency pairs movements? Binary option trading is what you need. Click here.
Take profit from the markets roller coaster. No downloads, no commissions, no spreads.