CamTech’s revenues in the second quarter of 2020 amounted to $ 37.0 million, an increase of 8% compared to revenues of $ 34.3 million in the second quarter of 2019.
GAAP’s gross profit in the second quarter of 2020 was $ 16.9 million (45.8% of revenue), an increase of 2% compared to $ 16.6 million (48.2% of revenue) in the second quarter of 2019. Non-GAAP gross profit Amounted to $ 17.0 million (46.1% of revenue) in the second quarter of 2020, an increase of 3% compared to a gross profit of $ 16.6 million (48.4% of revenue) in the second quarter of 2019.
GAAP operating profit in the second quarter of 2020 amounted to $ 5.4 million (14.6% of revenue), compared to operating profit of $ 6.4 million (18.5% of revenue) in the second quarter of 2019. Non-GAAP operating profit in the second quarter of 2020 at $ 6.4 million (17.2% of revenue), compared to non-GAAP operating profit of $ 7.0 million (20.5% of revenue) in the second quarter of 2019.
GAAP net income in the second quarter of 2020 was $ 5.3 million or 13 cents per fully diluted share, compared to $ 7.2 million GAAP net income or 19 cents per full diluted share in the second quarter of 2019. Non-full earnings. GAAP totaled $ 6.3 million or 16 cents per share in full dilution in the second quarter of 2020, compared to net income on a non-GAAP basis of $ 6.7 million or 18 cents per fully diluted share in the second quarter of 2019.
As of June 30, 2020, CamTech had $ 101.5 million in cash, cash equivalents and short-term deposits, compared to $ 89.5 million as of December 31, 2019. During the quarter, the Company generated a positive cash flow of $ 11.1 million, $ 7.6 million Of these, advance payments are from customers.
Rafi Amit, CEO of CamTech, said: “The results of the second quarter of CamTech reflect the ongoing demand for our products, especially in Asia.
We have increased our market share in 2D testing mainly due to the significant improvement in our system performance and competitiveness in all 2D applications. In addition, we benefit from our strategy in which local professional teams can independently install and support machines in all the territories in which we operate. This strategy allows us to continue to grow even during the corona plague.
Mr. Amit continued, “Second quarter revenue reached record levels, and our customers’ continued demand for a variety of applications indicates a strong third quarter, with an encouraging backlog of orders for the fourth quarter. However, it is important to note that we are aware of the consequences of the corona epidemic that increases the level of risk and uncertainty. ”