UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the month of
April 2010
Commission File Number 000-12790
ORBOTECH LTD.
(Translation of Registrants name into English)
SANHEDRIN BOULEVARD, NORTH INDUSTRIAL ZONE, YAVNE 81101, ISRAEL
(Address of principal executive offices)
Indicate by
check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form
20-F
X
Form 40-F
Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Attached hereto and incorporated by reference herein is the following document:
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Press release issued by the Registrant on, and dated, April 13, 2010, and entitled Orbotech Updates its First Quarter and Full Year 2010 Revenue
Guidance.
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FOR IMMEDIATE RELEASE
ORBOTECH UPDATES ITS FIRST QUARTER AND FULL YEAR 2010 REVENUE GUIDANCE
YAVNE, ISRAEL April 13, 2010 ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) is today updating its previous guidance regarding
expected revenues in the quarter ended March 31, 2010 and the full year of 2010.
In its fourth quarter and full year
2009 results announcement, the Company indicated that its printed circuit board (
PCB
) manufacturing customers were continuing to report high plant utilization rates and that many liquid crystal display manufacturers had begun to
solidify their capital expenditure plans for the next phase of investment.
Towards the end of March and into early April, the
Company has been experiencing stronger-than-anticipated demand for its PCB solutions, particularly its direct imaging systems, and increased bookings for its flat panel display equipment. As a result of these developments, and the overall
strengthening of the trends mentioned above, Orbotech expects to record revenues for the first quarter of 2010 of approximately $103 million and that its revenues for the full year will be in the range of $460 - 470 million.
The foregoing are estimated ranges and may change. The Company and its external auditors have not yet completed the normal quarterly
review procedures for the quarter ended March 31, 2010, and there can be no assurance that the Companys concluding results for this quarterly period will not differ from these estimates, including as a result of quarter-end closing
procedures or review adjustments. Any such differences could be material. In addition, these estimates should not be viewed as a substitute for full interim financial statements prepared in accordance with U. S. generally accepted accounting
principles, nor are these preliminary results of operations for the quarter ended March 31, 2010 necessarily indicative of the results that may be achieved for the remainder of 2010 or any future period.
The Company will discuss these and other matters during its conference call for the first quarter 2010 results, which is scheduled for
Monday, May 10, 2010, at 9:00 a.m. EDT.
About Orbotech Ltd.
Orbotech is principally engaged in the design, development, manufacture, marketing and service of yield-enhancing and production solutions
for specialized applications in the supply chain of the electronics industry. Orbotechs products include automated optical inspection (AOI), production and process control systems for printed circuit boards (PCBs) and AOI, test and repair
systems for flat panel displays (FPDs). The Company also markets computer-aided manufacturing (CAM) and engineering solutions for PCB production. In addition, through its subsidiary, Orbograph Ltd., the Company develops and markets character
recognition solutions to banks and other financial institutions, and has developed a proprietary technology for web-based, location-independent data entry for check processing and forms processing; and, through its subsidiaries, Orbotech Medical
Denmark A/S and Orbotech Medical Solutions Ltd., is engaged in the research and development, manufacture and sale of specialized products for application in medical nuclear imaging. Of Orbotechs employees, more than one quarter are scientists
and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide sophisticated solutions and technologies designed to meet customers long-term needs. Orbotech maintains its headquarters, as well as
substantial research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. Orbotechs extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China
and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit www.orbotech.com.
Except for historical information, the matters discussed in this press release are
forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, future prospects, developments and business strategies and involve certain risks and
uncertainties. The words anticipate, believe, could, will, plan, expect and would and similar terms and phrases, including references to assumptions, have been used
in this press release to identify forward-looking statements. These forward-looking statements are made based on managements expectations and beliefs concerning future events affecting Orbotech and are subject to uncertainties and factors
relating to its operations and business environment, all of which are difficult to predict and many of which are beyond the Companys control. Many factors could cause the actual results to differ materially from those projected, including
cyclicality in the industries in which the Company operates, a sustained continuation or worsening of the worldwide economic slowdown, the timing and strength of product and service offerings by the Company and its competitors, changes in business
or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a
global, regional or national basis and other risks detailed in the Companys SEC reports, including the Companys Annual Report on Form 20-F for the year ended December 31, 2009. In addition, as a result of the foregoing
considerations and the other limitations described herein, investors are cautioned not to place undue reliance on the preliminary and estimated financial information included herein. The Company assumes no obligation to update the information in
this press release to reflect new information, future events or otherwise, except as required by law.
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COMPANY CONTACTS:
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Adrian Auman
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Michelle Harnish
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Corporate Vice President Investor Relations
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Marketing Communications Manager
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and Special Projects
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Orbotech, Inc.
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Orbotech Ltd.
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+1-978-901-5120
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+972-8-942-3560
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
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ORBOTECH LTD.
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(Registrant)
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By:
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/s/ Erez Simha
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Erez Simha
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Corporate Vice President and
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Chief Financial Officer
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Date: April 14, 2010
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