Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Atomic structure of ultrasound material not what anyone expected February 21st, 2018

Oxford Instruments announces Dr Kate Ross as winner of the 2018 Lee Osheroff Richardson Science Prize for North and South America February 20th, 2018

Computers aid discovery of new, inexpensive material to make LEDs with high color quality February 20th, 2018

Unconventional superconductor may be used to create quantum computers of the future: They have probably succeeded in creating a topological superconductor February 19th, 2018

Chip Technology

Photonic chip guides single photons, even when there are bends in the road February 16th, 2018

Graphene on toast, anyone? Rice University scientists create patterned graphene onto food, paper, cloth, cardboard February 13th, 2018

Liquid crystal molecules form nano rings: Quantized self-assembly enables design of materials with novel properties February 7th, 2018

Nanometrics Selected for Fab-Wide Process Control Metrology by Domestic China 3D-NAND Manufacturer: Latest Fab Win Includes Comprehensive Suite for Substrate, Thin Film and Critical Dimension Metrology February 7th, 2018

Announcements

Atomic structure of ultrasound material not what anyone expected February 21st, 2018

Oxford Instruments announces Dr Kate Ross as winner of the 2018 Lee Osheroff Richardson Science Prize for North and South America February 20th, 2018

Computers aid discovery of new, inexpensive material to make LEDs with high color quality February 20th, 2018

Unconventional superconductor may be used to create quantum computers of the future: They have probably succeeded in creating a topological superconductor February 19th, 2018

Tools

Oxford Instruments announces Dr Kate Ross as winner of the 2018 Lee Osheroff Richardson Science Prize for North and South America February 20th, 2018

New method enables high-resolution measurements of magnetism February 7th, 2018

Nanometrics Selected for Fab-Wide Process Control Metrology by Domestic China 3D-NAND Manufacturer: Latest Fab Win Includes Comprehensive Suite for Substrate, Thin Film and Critical Dimension Metrology February 7th, 2018

A new radiation detector made from graphene: A new bolometer exploits the thermoelectric properties of graphene February 6th, 2018

Financial Reports

Arrowhead Pharmaceuticals to Webcast Fiscal 2018 First Quarter Results February 3rd, 2018

Nanometrics Announces Preliminary Results for the Third Quarter of 2017: Quarterly Results Impacted by Delays in Revenue Recognition on Multiple Systems into Japan October 12th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Third Quarter Results July 27th, 2017

Nanometrics to Announce Second Quarter Financial Results on August 1, 2017 July 14th, 2017

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project