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Orbotech: 3Q Earnings Snapshot

YAVNE, Israel (AP) _ Orbotech Ltd. (ORBK) on Wednesday reported third-quarter net income of $29.2 million.

On a per-share basis, the Yavne, Israel-based company said it had profit of 59 cents. Earnings, adjusted for one-time gains and costs, came to 79 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The equipment maker for electronics manufacturers posted revenue of $261.2 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $262.5 million.

For the current quarter ending in December, Orbotech said it expects revenue in the range of $270 million.

The company expects full-year revenue of $1.05 billion.

Orbotech shares have climbed nearly 7 percent since the beginning of the year. The stock has increased almost 2 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORBK at https://www.zacks.com/ap/ORBK