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ORBOTECH ANNOUNCES THIRD QUARTER OPERATING RESULTS (UNAUDITED)

 BILLERICA, Mass., Nov. 15 /PRNewswire/ -- Orbotech Ltd. (NASDAQ/NMS: ORBKF) today announced unaudited consolidated financial results for the three and nine month periods ended Sept. 30, 1993. The following operating results also include unaudited proforma condensed combined operating results for the third quarter of 1992 and for the first nine months of 1992 which give effect to the merger of Orbot Systems Ltd. and Optrotech Ltd. as if it had occurred on Jan. 1, 1992.
 Net income for the third quarter of 1993 totaled $1.5 million, or $0.12 per share, compared to a loss of $3.1 million, or $0.49 per share for the third quarter of 1992 and compared with proforma loss of $6.9 million in the same period of 1992. Net income for the third quarter of 1993 includes a $0.6 million gain resulting from a change during such quarter of Orbotech's holdings in Opal Technologies, Inc. Net income for the nine months ended Sept. 30, 1993, before the cumulative effect of an accounting change, was $3.1 million or $0.25 per share, compared with a loss of $6.2 million or $0.99 per share, in the same period of 1992 and compared with a proforma loss of $11.1 million in 1992. As previously announced, due to the implementation in the first quarter of 1993 of FASB Statement No. 109, "Accounting for Income Taxes", the company recorded a one-time profit of $0.9 million or $0.07 per share, presented as a cumulative effect, at the beginning of the period, of an accounting change. The total unaudited net income for the first nine months of 1993 was $4.0 million, or $0.32 per share.
 Revenues for the third quarter of 1993 were $24.6 million, compared with $16.9 million for the third quarter of 1992, and compared with proforma revenues of $25.5 million for the same period in 1992. Revenues for the nine-month period ended Sept. 30, 1993 were $75.5 million, compared with revenues of $53.1 for the same period in 1992 and compared with proforma revenues of $88.1 million for the first nine months of 1992.
 The successful implementation of the merger according to plan, considerably lowered the costs of the company and has enabled Orbotech to adjust to market conditions and to maintian profitability at a lower level of sales.
 During the third quarter of 1993, Orbotech recognized revenues from the sale of inspection systems for liquid crystal flat panel displays for the first time. In the same period, News International PLC of the United Kingdom placed an order for five Orbotech SPrint 120/N large- format imagesetters, following successful completion of the tests of a SPrint 120/N installed at a News International plan earlier this year.
 Orbotech is a major supplier of automatic optical inspection equipment, computer-aided design, verification, engineering and tooling generation systems and laser plotting/scanning systems for application to the production of printed circuit boards. Orbotech also supplies laser imaging equipment for use in the graphic arts industry and automatic optical inspection equipment for application to the production of liquid crystal flat-panel displays.
 Orbotech Ltd.
 Condensed Consolidated Statement of Income (Loss) [Unaudited]
 9 Months Ended Sept. 30,
 ($ in thousands, except shares and per share amounts)
 Proforma
 1993 1992 1992(a)
 Revenues $75,463 $53,059 $88,125
 Inc.(Loss)
 Bef. Cumulative
 Effect of an
 Account. Change 3,088 (6,220) (11,147)
 Net Inc. (Loss)
 After taxes 4,017 (6,220) (11,147)
 Inc. (Loss)
 per Share Bef.
 Cumulative Effect
 of an Accounting
 Change 0.25 (0.99) (0.90)
 Net Inc. (Loss)
 per share: 0.32 (0.99) (0.90)
 Weighted Avg. No.
 of Shares Outstng. 12,602 6,268 12,365
 Orbotech Ltd.
 Condensed Consolidated Statement of Income (Loss) [Unaudited]
 3 Months Ended September 30th,
 ($ in thousands, except shares and per share amounts)
 Proforma
 1993 1992 1992*
 Revenues $24,561 $16,877 $25,505
 Net Inc. (Loss)
 After taxes 1,545 (3,064) (6,926)
 Net Inc.(Loss)
 per share: 0.12 (0.49) (0.57)
 Weighted Avg. No.
 of Shares Outstng. 12,602 6,269 12,365
 (a)Orbotech Ltd. and Orbot Systems Ltd. Proforma consolidated condensed combined Statement of Income (unaudited), which gives effect to the merger transaction as if it had occurred on Jan. 1, 1992.
 -0- 11/15/93
 /CONTACT: David Gal, vice president of Orbortech Ltd., 508-667-6037/
 (ORBKF)


CO: Orbotech Ltd. ST: Massachusetts IN: CPR SU: ERN

JL -- NE013 -- 4294 11/15/93 10:02 EST
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Date:Nov 15, 1993
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