Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Nanometrics Reports Second Quarter 2008 Financial Results

Abstract:
Nanometrics Incorporated (Nasdaq: NANO), a leading supplier of advanced process control metrology equipment, today announced financial results for its second quarter ended June 28, 2008.

Nanometrics Reports Second Quarter 2008 Financial Results

Milpitas, CA | Posted on July 31st, 2008

Revenues for the second quarter were $23.8 million, representing a 32% decrease from first quarter 2008 revenues of $34.7 million and a 36% decrease from second quarter 2007 revenues of $37.3 million. Net loss for the second quarter was $18.9 million, or $1.02 per share. This compares to a net loss of $0.7 million, or $0.04 per share, for the first quarter of 2008 and a net loss of $0.1 million, or $0.01 per share, for the second quarter of 2007.

The second quarter net loss includes non-cash expenses of $16.6 million. We took a FAS 144 asset impairment charge of $13.2 million, primarily consisting of intangible assets related to the 2006 acquisitions of Accent Optical and Soluris. Other non-cash charges include $1.3 million for amortization of acquired intangible assets, $1.1 million for stock-based compensation expenses and $1.0 million for depreciation.

Operating expenses include $0.3 million in severance charges related to a 3% workforce reduction during the second quarter.

"In a difficult market environment, we are gratified to see the benefit of our restructuring efforts evidenced in part by achieving 42% gross margins in spite of the sharp decline in revenues," commented Tim Stultz, president and chief executive officer. "So far this year, we have also strengthened our product portfolio by launching new solutions in every one of our primary served markets as well as completing the acquisition of Tevet, which has already led to new customer wins in the solar photovoltaics industry."

"We took an impairment charge in the second quarter that will reduce our amortization of acquired intangible assets expense by approximately $700,000 per quarter," continued Dr. Stultz. "We recently completed a $13.5 million real estate loan transaction on our Milpitas headquarters that will improve our cash position. Going forward we will continue to aggressively seek ways to improve both our operational and capital efficiencies."

Selected Revenue Segment Information

Revenues by Product
Automated Metrology: 42%
Integrated Metrology: 13%
Materials Characterization: 23%
Service: 22%

Revenues by Region
Japan: 38%
South Korea: 19%
United States: 17%
ROW: 26%

For Q2 2008 consolidated balance sheets and statement of operations, please visit www.nanometrics.com.

Conference Call Details
A conference call to discuss the second quarter results will be held later today at 4:30 p.m. Eastern Daylight Time (1:30 p.m. PDT). To participate in the conference call, the dial-in numbers are 800-659-1966 for domestic callers and 617-614-2711 for international callers. The passcode is 13506760. A live and recorded webcast will be made available on the investor page of the Nanometrics website at www.nanometrics.com.

####

About Nanometrics Incorporated
Nanometrics is a leader in the design, manufacture and marketing of high-performance process control metrology systems used primarily 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.

Forward Looking Statements
This press release contains forward-looking statements including, but not limited to, statements regarding Nanometrics’ expected results for its most recently completed fiscal quarter, which remain subject to adjustment in connection with the preparation of Nanometrics’ financial statements and periodic report on Form 10-Q for the quarter ended June 28, 2008. For additional information and considerations regarding the risks faced by Nanometrics, see its annual report on Form 10-K, as amended, for the year ended December 29, 2007 as filed with the Securities and Exchange Commission, as well as other periodic reports filed with the SEC from time to time. 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. Nanometrics disclaims any obligation to update information contained in any forward-looking statement.

For more information, please click here

Contacts:
Investor Relations:
Claire McAdams
Headgate Partners LLC
530-274-0551 tel
530-274-0531 fax


Company Contact:
Gary Schaefer, CFO
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:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Raman Whispering Gallery Detects Nanoparticles September 1st, 2014

A new, tunable device for spintronics: An international team of scientists including physicist Jairo Sinova from the University of Mainz realises a tunable spin-charge converter made of GaAs August 29th, 2014

Nanoscale assembly line August 29th, 2014

New Vice President Takes Helm at CNSE CMOST: Catherine Gilbert To Lead CNSE Children’s Museum of Science and Technology Through Expansion And Relocation August 29th, 2014

Chip Technology

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

Fonon Announces 3D Metal Sintering Technology: Emerging Additive Nano Powder Manufacturing Technology August 28th, 2014

RMIT delivers $30m boost to micro and nano-tech August 26th, 2014

Competition for Graphene: Berkeley Lab Researchers Demonstrate Ultrafast Charge Transfer in New Family of 2D Semiconductors August 26th, 2014

Announcements

Raman Whispering Gallery Detects Nanoparticles September 1st, 2014

Nanoscale assembly line August 29th, 2014

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

New Vice President Takes Helm at CNSE CMOST: Catherine Gilbert To Lead CNSE Children’s Museum of Science and Technology Through Expansion And Relocation August 29th, 2014

Tools

Raman Whispering Gallery Detects Nanoparticles September 1st, 2014

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

Ultra-Low Frequency Vibration Isolation Stabilizes Scanning Tunneling Microscopy at UCLA’s Nano-Research Group August 28th, 2014

Measure Both Elastic and Viscous Properties with AFM Using Asylum Research’s Exclusive AM-FM Viscoelastic Mapping Mode August 28th, 2014

Financial Reports

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Arrowhead Reports Fiscal 2014 Third Quarter Financial Results and Provides Update on ARC-520 August 12th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Harris & Harris Group Reports Financial Statements as of June 30, 2014 August 10th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE