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CAMT
The following post is from Seeking Alpha.

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Camtek Launching First-Ever 3D Printer For Printed Circuit Board Industry[size=0.95em]Mar. 23, 2014 1:37 AM ET | [color=rgb(2, 73, 153) !important]19 comments | About: [color=rgb(2, 73, 153) !important]CAMT

Disclosure: I am long CAMT. (More...)

Summary

• CAMT has early mover advantage in PCB market estimated to be $93.9 billion by 2017.
• CAMT generated 32% revenue growth in the most recent quarter.
• CAMT earnings estimated to grow to .40/share by 2015.
• CAMT balance sheet is strong.
  

Camtek Ltd. (CAMT) is launching the first commercial 3D printer for the PCB (Printed Circuit Board) industry this year. The company announced this development in a press release stating: "As a future growth engine, in addition to the existing products lines, the Company will focus its activity in the field of digital 3D printing for the printed circuit board industry." As discussed in last month's 2013 year-end conference call, Camtek's new $300,000 "GreenJet" printer has been delivered to the first customer and is in the final stage of testing with full commercialization anticipated in the second half of this year.

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With the competitive advantages the printer delivers, the launch could be a game-changer for the company as well as the PCB industry.

Overview

Camtek Ltd. manufactures and markets computerized systems that optically inspect electronic components for defects caused during manufacturing. The $120 million market cap company has 480 employees, a balance sheet with $22.5 million cash and equivalents, and a current ratio of 3. Camtek Ltd. is based in Israel, with offices in the U.S. and Europe in addition to a strong presence throughout the Asia-Pacific region.

See March, 2014 investor presentation.

Highlights of Full Year 2013

• Revenues of $85.4 million
• Gross margins 45%
• Non-GAAP operating income of $3.2 million; GAAP operating income of $1.1 million
• Non-GAAP net income of $2.1 million; GAAP net income of $7 thousand
• Positive operating cash flow of $4.7 million; Cash and equivalents of $22.5 million as of December 31, 2013
  

Highlights of Fourth Quarter 2013

• Revenues of $23.3 million (a 32% increase over Q4 2012)
• Net income (GAAP basis) of $0.02/share vs. loss of $0.11/share in Q4 2012
• Positive operating cash flow of $2.6 million
• 3D Printing System for PCB market installed at customer site for testing
  

Camtek is forecasting Q1 2014 revenue growth of greater than 20%

Sources: Form 20-F, press release

Analyst Earnings Estimate $0.40/share Next Year

Due to the launch of their new 3D printer for the PCB industry, Chardan Capital Markets upgraded Camtek to a "Buy" based on the company's "3D Printing Opportunity." Chardan Capital Markets now estimates earnings of $0.10/share for 2014, and an impressive $0.40/share next year.

Launching GreenJet 3D Printer For Solder Mask Deposition

Camtek's $300,000 GreenJet 3D printer for the deposition of solder mask on PCBs offers manufacturers a high-performance solution with a wide range of cost effective, and technological benefits. The GreenJet printer delivers savings in labor, cycle time, electrical costs, and space.

Moreover, the GreenJet printers directly address a critical, costly and frequent complication during PCB manufacturing process: misalignment. As PCBs become increasingly crowded in order to fit more electrical components with more links on smaller boards, perfect alignment is essential. I believe the ability of the GreenJet printer to minimize alignment issues and reduce the 4-step solder mask deposition process to a 1-step process in addition to cost savings and shorter cycle times, will result in strong demand from PCB manufacturers.

Early Mover Advantage In $93.9 Billion market

The PCB industry is forecast at an 8% compound annual growth rate, and to reach $93.9 billion by 2017. This enormous market is highly competitive and Camtek's GreenJet printer is entering the space with a novel product that delivers PCB manufacturers the competitive advantages noted above.

In addition to machine sales, Camtek will generate recurring revenue with their proprietary hybrid ink, tailored to meet the demanding requirements of the PCB industry.

Conclusion

With a strong balance sheet, strong revenue growth forecast, positive cash flow from operations, and the commercial launch of the GreenJet printer this year, I believe shares are heavily undervalued at present. Analyst estimates for $0.10/share in earnings this year jumping to $0.40/share next year appear well within reason and should drive CAMT shares higher.

Additional disclosure: This article was previously published on 3DPSPremium.com on 3/21/14.

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ARTX

The following article is from Seeking Alpha.

3D Analytics
Long/short equity, deep value, special situations, arbitrage
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Arotech Corp. - A Lithium-Battery Stock Ready To Quadruple; $16 Price Target
Mar. 25, 2014 11:39 AM ET  |  About: ARTX
Disclosure: I am long ARTX. (More...)
Summary

An exciting ARTX product called SWIPES was named by the U.S. Army as one of the greatest inventions of 2010. U.S. Marines and Israeli Armed Forces may start ordering SWIPES.
With skyrocketing demand for UAVs, drones and other unmanned vehicles, the demand for high-powered lithium batteries should offer huge potential growth for ARTX.
Sales of electric cars have yet to eclipse 1 percent of new-car sales, leaving much room for growth for ARTX and its lithium-ion electric-car batteries.
Arotech is developing an iron-flow battery to provide storage for grid power. The growth of solar and other renewable-energy sources is driving the demand for more efficient grid-power solutions.
ARTX announced record third-quarter results and increased guidance for the full year 2013.
In the opening statement of his speech to the Noble Financial conference on Jan. 21, 2013, Tom Paup, CFO of Arotech (ARTX), said, "Our stock is very much undervalued." We recommend to all investors that they view that presentation.

Highlights

An exciting ARTX product called SWIPES was named by the U.S. Army as one of the greatest inventions of 2010. The Army has been reordering the product, and the U.S. Marines and Israeli Armed Forces may start ordering SWIPES after expressing great interest in integrating this product into their issued combat gear.
With skyrocketing demand for UAVs, drones and other unmanned vehicles, the demand for high-powered lithium batteries should offer huge potential growth for ARTX. According to its 2014 budget, the U.S. government plans to spend an estimated $4.1 billion adding to its fleet of unmanned vehicles.
Sales of electric cars have yet to eclipse 1 percent of new-car sales, leaving much room for growth for ARTX and its lithium-ion electric-car batteries. This state of exceptional growth is best exemplified by the 400-percent increase in the stock of Tesla (TSLA).
Arotech is developing an iron-flow battery to provide storage for grid power. The growth of solar and other renewable-energy sources is driving the demand for more efficient grid-power solutions. The iron-flow batteries could revolutionize an industry that is expected to exceed $400 billion by 2020.
The simulation, training and consulting division has grown rapidly over the past three years. Arotech also has three exciting new contracts, worth a total of $120-155 million, coming through the pipeline, a fact that should help the segment continue its rapid growth.
There were two recent mergers within the simulation segment, and we feel Arotech would be an excellent acquisition for defense giant Lockheed Martin (LMT).
ARTX announced record third-quarter results and increased guidance for the full year 2013. Given the company's record (and growing) backlog of $74.4 million and increased guidance, we believe Q4 and full-year 2013 results also will establish new records. It is a virtual certainty that 2013 will be the first profitable year in the company's recent past.
(click to enlarge)


Introduction

Arotech is cheap, profitable and growing, with unlimited future potential. Arotech supplies batteries and other products for many rapidly growing products such as electric vehicles, drones and grid storage, as well as for various other military applications. The stock recently pulled back from its highs, giving investors a buying opportunity as ARTX is much cheaper in valuation than its peers. Since we began writing articles for Seeking Alpha, this is the most undervalued stock we have come across, and we are even more excited about Arotech's future. Consequently, we assign a buy rating on the stock with a $16 price target, which is quadruple its current levels.

Battery and power-systems division

The battery and power-systems division is the smaller of the company's two segments but offers huge growth opportunities. Below is a list and description of the division's products and the potential for growth that each offers.

(click to enlarge)


SWIPES

Soldier Worn Integrated Power Equipment Systems is one of Arotech's new and exciting products with a huge potential for growth. The SWIPES system provides a power supply to soldiers to eliminate the need to carry spare batteries for their battery-operated devices, including radios, GPS, flashlights, mine-detection systems and other battery-operated tools. This system is conveniently wired through the Moly vest that currently is in use by the armed forces. The system presently is being used by 7,500 members of the U.S. Army and has huge growth potential in further sales to the Army.

The benefits of SWIPES include:

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简单123

看不懂，高手翻译下

Lin222

MS Stock Rating has the lowest rate 1 for CAMT.  Here is the link
http://investing.money.msn.com/investments/stock-ratings/?symbol=Camt

EarnPocketMoney

Lin222 发表于 2014-3-26 12:44 PM
MS Stock Rating has the lowest rate 1 for CAMT.  Here is the link
http://investing.money.msn.com/inv ...

Thank you.

Lin222

EarnPocketMoney 发表于 2014-3-26 09:13 PM
Thank you.

You are very welcome.