MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Camtek Ltd. (CAMT) on Tuesday reported fourth-quarter earnings of $20.8 million.

On a per-share basis, the Migdal Haemek, Israel-based company said it had profit of 42 cents. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 57 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The maker of automatic optical inspection and process enhancement systems posted revenue of $88.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $88 million.

For the year, the company reported profit of $78.6 million, or $1.61 per share. Revenue was reported as $315.4 million.

Camtek shares have increased 27% since the beginning of the year. The stock has more than tripled in the last 12 months.

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