Nova Announces 2012 Second Quarter Results
August 1, 2012
REHOVOT, ISRAEL-- Nova Measuring Instruments Ltd, provider of stand-alone metrology and integrated metrology solutions to the semiconductor process control market, today reported its 2012 second quarter results.
Highlights for the second quarter of 2012 include:
Quarterly revenues of $27.1 million, up 20% over the first quarter of 2012
Blended gross margin of 54%
GAAP Net income of $3.7 million, or $0.14 per diluted share
Non-GAAP Net income of $5.4 million, or $0.20 per diluted share
Positive cash flow from operations of $4.5 million
"We are able to fully capitalize on current demand because we invested aggressively in 28nm technology three years ago and followed with good execution,” says Gabi Seligsohn, president and CEO of Nova. “We have already announced several wins for the more advanced process nodes and enjoy good traction with our recently announced products as well. In addition, during the past several months, we have identified additional areas in which we plan to further invest, in order to remain at the forefront of this dynamic industry. Our strong relationships and track record of execution, combined with a further ramp in research and development expenses during the second half of the year, will position us for future growth, while also remaining solidly profitable."