Camtek Ltd. (NASDAQ:CAMT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 09:00 am ET

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Camtek Ltd. (NASDAQ:CAMT) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. Welcome to Camtek's Second Quarter 2020 Results Conference Call. [Operator Instructions]

You should have all received by now the Company's press release. If you have not received it, please contact Camtek's Investor Relations team at GK Investor and public relations at 1-646-688-3559 or view it in the news section of the Company's website, www.camtek.com.

I would now like to hand over the call to Mr. Ehud Helft of GK Investor Relations. Mr. Helft, would you like to begin, please?

Executive
Ehud Helft

Yeah. Thank you. And good day to all of you.

I would like to welcome all of you to Camtek's second quarter 2020 results conference call, and I would also like to thank Camtek's management for hosting this call.

With us on the line today are Mr. Rafi Amit, Camtek's CEO; Mr. Moshe Eisenberg, Camtek's CFO; and Mr. Ramy Langer, Camtek's COO. Rafi will provide you the overview of Camtek's results and discuss market trends in the second quarter of 2020, and Moshe will then summarize the financial results of the quarter. We will then open the call to take your question.

Before we begin, I'd like to remind our listeners that certain information provided on this call are internal Company estimates, unless otherwise specified. This call also may contain forward-looking statements. These statements are only predictions and may change as time passes. Statements on this call are made as of today and the Company undertakes no obligation to update any of the forward-looking statements contained whether as a result of new information, future events, changes in expectation or otherwise. Investors are reminded these forward-looking statements are subject to risk and uncertainties that may cause actual events or results to differ materially from those projected, including as result of the effect of general economic conditions; the effect of the COVID-19 crisis on the global markets or on the market in which we operate, including the risk of a continued disruption to our and our customers' providers' business -- providers' business, partners and contractors' business as a result of the outbreak and the effect of the COVID-19 pandemic; risk relating to the concentration of a significant portion of Camtek's expected business in certain countries, particularly China, from which we expect to generate significant portion of our revenues for the second half of 2020, but also Taiwan and Korea, including the risk of deviation from our expectation regarding timing and size of orders from customers in this country; changing industry and market trends; reduced demand for services and products; the timing of development of the new services and products and their adoption by the market; increased competition in the industry and price reduction as well as due to other risks identified in the Company's filing with the SEC. Please note that the Safe Harbor statement in today's press release also covers the content of this conference call.

In addition, during this call certain non-GAAP financial measures will be discussed. These are used by management to make