Contech's revenue in the first quarter was US$77.2 million, and it has received orders worth over US$150 million since the beginning of the year.

On May 12, Israel's Camtek announced its first-quarter financial results ending March 31, 2022.

Record quarterly revenue for the first quarter of 2022 was reported at $77.2 million, up 35% year-over-year; gross margin was 50.5%; GAAP operating profit was $19.5 million, with an operating margin of 25.3%; and net income was $18.4 million, with diluted earnings per share of $0.39.

Rafi Amit, CEO of Camtek, commented: "We have had a strong start to 2022 and we continue to receive strong orders. Despite the adverse global geopolitical environment and the continued impact of the COVID-19 pandemic, especially the lockdown in Shanghai, the company has received more than $150 million in orders from China and other regions since the beginning of the year. These orders will be used in various applications such as advanced interconnect packaging, including DRAM, front-end and CIS, which strengthens our expectations for another record year."

Management expects continued growth in the second quarter, with revenues of $77-80 million.