Bloomberg: Orbotech lowers 2012 revenue guidance
Published on Oct 09 2012 // Business and Financial News, Market
October 09, 2012–Orbotech Ltd. lowered its full-year revenue forecast on Tuesday, saying the tough economy is pressuring its customers.
Shares of the Israel-based company, which makes parts for circuit boards, flat panel displays and other electronic components, fell more than 8 percent in afternoon trading.
Orbotech said that it expects to generate revenue of roughly $400 million for the year, down from its prior forecast of $430 million to $450 million. Analysts polled by FactSet were expecting $434.1 million.
The company also said it expects revenue of roughly $98 million for the third quarter; analysts were expecting $112.3 million…Read More>>
