MoreNanometrics Inc., a provider of advanced process control metrology systems, announced financial results for its second quarter ended July 2, 2011.
Highlights for the quarter include:
Record revenues of $64.4 million, up 4% sequentially and 27% year-over-year;
Gross margin of 56.1%, with product gross margin of 57.0% and service gross margin of 51.4%;
$17.5 million of income from operations and 27.2% operating margin;
Cash and investments increased by $11.5 million to $91.7 million, after stock repurchases totaling $4.3 million during the quarter; and
Continued competitive wins, increased traction of the UniFire system for advanced wafer-scale packaging, and further growth of our integrated metrology and materials characterization businesses.
President and chief executive officer Timothy J. Stultz said the results are “consistent with our record of outperforming the overall industry, wherein our business continues to benefit from three key factors. First, our primary served markets are the fastest-growing segments of process control metrology. Second, we continue to achieve incremental competitive wins and strengthen our position with the world’s leading chip makers. And third, our team has continued to excel in execution, rapidly ramping our business in response to strong customer demand while delivering financial results on par with the industry’s leading companies.”
Highlights for the quarter include:
President and chief executive officer Timothy J. Stultz said the results are “consistent with our record of outperforming the overall industry, wherein our business continues to benefit from three key factors. First, our primary served markets are the fastest-growing segments of process control metrology. Second, we continue to achieve incremental competitive wins and strengthen our position with the world’s leading chip makers. And third, our team has continued to excel in execution, rapidly ramping our business in response to strong customer demand while delivering financial results on par with the industry’s leading companies.”
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