Orbotech reports in-line quarter – increased display visibility
Israel based Orbotech (ORBK) reported an in-line quarter, noting that it has increased confidence in the visibility of projects in its display tool business, and is seeing continued strength in its PCB tool business as the industry moves to more complex and flexible boards for mobile products. Orbotech produces a variety of yield management tools for the display space, with almost every panel producer as customers, and does the same for the PCB space, which is undergoing a move from generic boards to small structure and flexible PCBs that are used in many mobile devices. Orbotech’s Semiconductor division also produces tools used in advanced packaging solutions, such as multi-board and Fan-out technology.
Orbotech is involved in a number of ultra-large fab projects, and has begun delivering product to one such fab, with others falling into current bookings, and has seen increasing strength in customer demand for tools oriented toward flexible OLED display production. They have adapted their highly regarded LCD tools to this new platform and have already seen significant orders given their lead in the space. As the only supplier of a tool in the PCB space that is able to repair PCB boards using both subtractive (common) and additive (no one else has the technology) modes, they have seen significant interest in their tool becoming an industry standard. We will have more on Orbotech tomorrow, as we believe their new product development, which has been fueling the company’s growth, is on the trail of another high value market.
Orbotech is involved in a number of ultra-large fab projects, and has begun delivering product to one such fab, with others falling into current bookings, and has seen increasing strength in customer demand for tools oriented toward flexible OLED display production. They have adapted their highly regarded LCD tools to this new platform and have already seen significant orders given their lead in the space. As the only supplier of a tool in the PCB space that is able to repair PCB boards using both subtractive (common) and additive (no one else has the technology) modes, they have seen significant interest in their tool becoming an industry standard. We will have more on Orbotech tomorrow, as we believe their new product development, which has been fueling the company’s growth, is on the trail of another high value market.
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