Revenue during the quarter grew 13.79 percent to $29.33 million from $25.78 million in the previous year period. Gross margin for the quarter expanded 443 basis points over the previous year period to 45.73 percent. Operating margin for the quarter period stood at positive 9.70 percent as compared to a negative 54.62 percent for the previous year period.

Operating income for the quarter was $2.84 million, compared with an operating loss of $14.08 million in the previous year period.

However, the adjusted operating income for the quarter stood at $2.96 million compared to $1.76 million in the prior year period. At the same time, adjusted operating margin improved 325 basis points in the quarter to 10.07 percent from 6.83 percent in the last year period.

Rafi Amit, Camteks chairman and chief executive officer, commented, "The strength in our fourth quarter 2016 culminates a very good year for Camtek, with record full year revenues and solid improvements in our profitability margins and our bottom line. Our ongoing performance is being driven primarily by strong performance of our semiconductor business and in particular by systems for the advanced packaging market. In addition, the improvement in the operating margin is very gratifying and we expect it to continue to improve in 2017."