In addition, limited capacity investments at some major accounts hampered our integrated metrology sales. While continued softness in the LED, solar and silicon wafer business brought our materials characterization business to a three-year loan. And finally, our balance sheet has remained strong with cash increasing to nearly $96 million, net of $5 million spent in the quarter on stock repurchases.
Now, I’d like to turn to our key business drivers, the foundation upon which we will grow and further strengthen our business. Today, we have more engagements across more customer products and technologies than ever before. In addition, and quite importantly, the semi industry is pushing a large number of disruptive initiatives that will lead to major technology inflections and thus growth opportunities for Nanometrics. These include 3D device architectures, such as FinFET transistors, 3D memory chips, such as the VNAND, 3D packaging, complex multi-step lithography, EUV, the impending wafer size increased from 300 millimeter to 450 millimeter, and of course, the ongoing pursuit of Moore’s Law through shrinking of critical dimensions with current development efforts focused on low 20 nanometers and below. These investments in device technology whether they are to drive performance, increase yields, or reduce manufacturing costs create more demand from measurement and control and translate to growth opportunities for Nanometrics.
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