CAMTEK LTD. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K is filed by CAMTEK LTD., a foreign private issuer, for the month of April 2009. The report is signed by Mira Rosenzweig, Chief Financial Officer, on April 1, 2009. The filing primarily addresses accounting standard implementations by the parent company, Priortech Ltd., and discloses specific foreign currency hedging transactions.
Key Financial Metrics
The filing does not provide current period revenue, profit, cash flow, or margin data. The following specific financial figures are disclosed:
- Capitalized Development Expenses: US$3,476,000 for the twelve-month period ended December 31, 2008 (reflected in Priortech's consolidated statements).
- Hedging Transactions: As of December 31, 2008, the company held various USD/NIS put and call options with fair values ranging from approximately US$(8,539) to US$13,912.
Material Changes
The filing references the implementation of Accounting Standard No. 30 by the parent company, Priortech Ltd., effective January 1, 2007. It notes that details regarding this standard were previously disclosed in reports dated throughout 2007 and 2008. No specific material changes in operating results for the current period are detailed in this text.
Outlook, Risks, and Contingencies
The filing discloses significant exposure to foreign exchange risk through hedging transactions. As of December 31, 2008, CAMTEK was engaged in multiple USD/NIS hedging contracts (puts and calls) with repayment dates extending through December 2009. The fair values of these instruments fluctuate based on exchange rates, representing a financial contingency.
Investor Verification Checklist
- Verify the impact of Accounting Standard No. 30 on the parent company's consolidated financial statements.
- Review the current fair value of the disclosed USD/NIS hedging positions, as the data provided is as of December 31, 2008.
- Confirm the status of the hedging contracts listed (e.g., whether they were exercised, expired, or rolled over) as of the filing date.
- Check subsequent filings for actual revenue and profit figures, as this report does not contain them.