MILPITAS, CA-Nanometrics Inc., a provider of advanced process control metrology systems, has announced financial results for its third quarter ended October 1, 2011. Highlights for the quarter include:
Revenues of $58.3 million, at the midpoint of guidance and down 9% from a record second quarter;
Gross margin of 52.9%;
$11.7 million of income from operations and 20.2% operating margin;
Increase in cash and investments of $8.5 million, ending the quarter at $100.1 million;
Receipt of a multiple-unit order for our first 450mm systems, scheduled for mid-2012 delivery to multiple sites;
Continuing significant competitive wins, including the announced OCD tool-of-record selection from an emerging foundry customer based in Asia and the integrated metrology selection from a leading Flash memory company, as well as multiple UniFire purchases from leading logic and memory customers.
" As we entered the third quarter, we began to see shifting priorities in the semiconductor industry, evidenced by order push-outs and delays in planned capacity expansions,” says president and chief executive officer Dr. Timothy J. Stultz. “Even with the increased level of volatility, until the second half of August, we continued to expect a return to revenue growth in the fourth quarter. Over the past two months, however, customer forecasts and capital spending have declined precipitously, and we now expect to see a significant sequential decline in revenues for the fourth quarter.”