Revenue during the quarter grew 25.86 percent to $30.78 million from $24.46 million in the previous year period. Gross margin for the quarter expanded 595 basis points over the previous year period to 48.18 percent. Total expenses were 87.41 percent of quarterly revenues, down from 98.48 percent for the same period last year. This has led to an improvement of 1107 basis points in operating margin to 12.59 percent.

Operating income for the quarter was $3.88 million, compared with $0.37 million in the previous year period.

However, the adjusted operating income for the quarter stood at $3.99 million compared to $0.45 million in the prior year period. At the same time, adjusted operating margin improved 1111 basis points in the quarter to 12.96 percent from 1.84 percent in the last year period.

Rafi Amit, Camteks chief executive officer, commented, "This is an excellent start to 2017, which demonstrates we are executing well on our strategy and plans. Our results mark the best quarter in our history from the revenue standpoint, with exceptionally strong cash flow and a multi-year high in margins. Our solid performance was driven by strength across all our business parts, and the advanced packaging market in particular that remains one of the fastest growing segments of the semiconductor capital equipment space."