Home > Press > Nanometrics Announces 7% Workforce Reduction
Abstract:
Company Initiatives Directed Toward Profitability and Cash Flow
Nanometrics Announces 7% Workforce Reduction
Milpitas, CA | Posted on January 10th, 2008
Nanometrics Incorporated (Nasdaq: NANO), a leading supplier of advanced metrology equipment to the semiconductor industry, today announced it is reducing its global work force by approximately seven percent. This reduction affects employees in each of the company's locations worldwide and is aimed at achieving Nanometrics' goals of improved profitability, cash flow and predictability.
The company will record approximately $600,000 in restructuring charges on its first quarter 2008 financials in connection with the reduction.
"While our longer-term outlook for the metrology sector is positive and we feel we are well-positioned in our served markets, we believe it is prudent to act in response to the softness currently seen in the semiconductor capital equipment industry," commented Tim Stultz, president and chief executive officer of Nanometrics. "While this was a difficult decision for us to make, it came about as a result of our stated strategy to run our business with reduced sensitivity to revenue level. We expect the cost savings to be fully realized in our second quarter 2008 financial results."
"We remain committed to investing in research and development activities and believe that our strong product offerings position Nanometrics to demonstrate continued solid performance in the process control market," Dr. Stultz concluded.
####
About Nanometrics Incorporated
Nanometrics is a leader in the design, manufacture and marketing of high-performance process control metrology systems used in semiconductor manufacturing. Nanometrics standalone and integrated metrology systems measure various thin film properties, critical dimensions, overlay control and optical, electrical and material properties, including the structural composition of silicon and compound semiconductor devices, during various steps of the manufacturing process. These systems enable semiconductor manufacturers to improve yields, increase productivity and lower their manufacturing costs. The Company maintains its headquarters in Milpitas, California, with sales and service offices worldwide. Nanometrics is traded on NASDAQ Global Market under the symbol NANO. Nanometrics’ website is www.nanometrics.com.
Forward Looking Statements
This press release contains forward-looking statements including, but not limited to, those of our CEO relating to Nanometrics’ future performance and financial results, market position and growth potential. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause Nanometrics’ actual results to differ materially from those expressed or implied by such statements. Nanometrics cannot provide any assurance that its future results will meet expectations. For additional information and considerations regarding the risks faced by Nanometrics, see its annual report on Form 10-K for the year ended December 31, 2006 as filed with the Securities and Exchange Commission, as well as other periodic reports filed with the SEC from time to time including its quarterly reports on Form 10-Q. Although Nanometrics believes that the expectations reflected in the forward-looking statements are reasonable, Nanometrics cannot guarantee future results, levels of activity, performance or achievements. In addition, neither Nanometrics nor any other person assumes responsibility for the accuracy or completeness of these forward-looking statements. Nanometrics disclaims any obligation to update information contained in any forward-looking statement.
For more information, please click here
Contacts:
Investor Relations Contact:
Claire McAdams
Headgate Partners LLC
530-274-0551 tel; 530-274-0531 fax
Company Contact:
Gary Schaefer
408.545.6000 tel; 408.232.5910 fax
Copyright © Nanometrics Incorporated
If you have a comment, please
Contact us.
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Bookmark:
News and information
UofL scientists uncover how grapefruits provide a secret weapon in medical drug delivery May 22nd, 2013
Atomic-Scale Investigations Solve Key Puzzle of LED Efficiency: MIT and Brookhaven Lab scientists use electron microscopy imaging techniques to settle a solid-state controversy and raise new experimental possibilities May 22nd, 2013
Single-Cell Transfection Tool Enables Added Control for Biological Studies: McCormick researchers develop method of delivering molecules into targeted cells May 22nd, 2013
JPK reports on single molecule research at IISER Pune in India using AFM and CellHesion techniques May 21st, 2013
Jobs
Inaugural Baccalaureate Class Among CNSE Graduates to Pursue Opportunities in New York: Half of undergrads from pioneering class to seek graduate degrees at CNSE; majority of master’s and doctoral degree recipients land high-tech jobs in state’s emerging nanotech industry May 16th, 2013
Nano Job Fair Sponsored by Office of Governor Andrew M. Cuomo, NYS Labor Dept, and NanoCollege Brings Hundreds to CNSE: Targeted outreach attracts women, veterans and minority candidates to participate in event designed to help fill more than 300 current and future openings at CN February 2nd, 2013
Office of Governor Andrew M. Cuomo, NYS Labor Department, and CNSE to Partner on Nano Job Fair to Fill Over 300 New Positions: Targeted outreach is underway to attract qualified women, veterans and minority candidates to participate in event at CNSE’s Albany NanoTech Complex on January 21st, 2013
First look at world-leading graphene Institute: This is the first glimpse of the new £61m research institute into wonder material graphene, which is to be built at The University of Manchester January 14th, 2013
Chip Technology
Imec and GLOBALFOUNDRIES collaborate to advance high-density memory technology: STT-MRAM offers enhanced performance and scalability for embedded and standalone applications May 21st, 2013
Penn engineers' nanoantennas improve infrared sensing May 20th, 2013
UC Riverside scientists discovering new uses for tiny carbon nanotubes: Adding ionic liquid to nanotube films could build smaller gadgets, and create more cost effective 'Smart Windows' that darken in bright sun May 15th, 2013
Nanometrics Announces Upcoming Investor Events May 14th, 2013
Announcements
UofL scientists uncover how grapefruits provide a secret weapon in medical drug delivery May 22nd, 2013
Atomic-Scale Investigations Solve Key Puzzle of LED Efficiency: MIT and Brookhaven Lab scientists use electron microscopy imaging techniques to settle a solid-state controversy and raise new experimental possibilities May 22nd, 2013
Single-Cell Transfection Tool Enables Added Control for Biological Studies: McCormick researchers develop method of delivering molecules into targeted cells May 22nd, 2013
Rice unveils method for tailoring optical processors: Arranging nanoparticles in geometric patterns allows for control of light with light May 21st, 2013
Tools
Atomic-Scale Investigations Solve Key Puzzle of LED Efficiency: MIT and Brookhaven Lab scientists use electron microscopy imaging techniques to settle a solid-state controversy and raise new experimental possibilities May 22nd, 2013
Xmark Media announces the 2013 Vacuum Expo & Vacuum Symposium, Ricoh Arena - Coventry 16-17 October May 21st, 2013
JPK reports on single molecule research at IISER Pune in India using AFM and CellHesion techniques May 21st, 2013
Penn engineers' nanoantennas improve infrared sensing May 20th, 2013