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Nanometrics Reports Fourth Quarter And Full Year 2012 Financial Results

MILPITAS, Calif., Feb. 4, 2013 (GLOBE NEWSWIRE) -- Nanometrics Incorporated (Nasdaq:NANO), a leading provider of advanced process control metrology and inspection systems, today announced financial results for its fourth quarter and full year ended December 29, 2012.

Fourth Quarter Highlights

  • Increased penetration at major foundry customers, which together comprised 26% of product sales;
  • Adoption of our Atlas ® optical critical dimension (OCD) metrology at multiple customers for development and pilot line production of 3D memory devices;
  • New tool-of-record selections of the UniFire system for advanced wafer scale packaging applications at multiple foundry and memory customers;
  • Multiple Spark and UniFire systems placed for advanced lithography cluster control for inspection and metrology; and $3.5 million in stock repurchases of 250,000 shares.
GAAP Results
                 
  Q4 2012   Q3 2012   Q4 2011 FY 2012   FY 2011
                 
Revenues  $ 30,270    $ 43,938    $ 45,277  $ 182,881    $ 230,061
                 
Gross Profit  $ 11,951    $ 22,152    $ 20,710  $ 83,928    $ 122,101
                 
Income (Loss) from Operations  $ (6,538)    $ 3,614    $ (528)  $ 5,478    $ 45,766
                 
Net Income (Loss)  $ (3,647)    $ 1,903    $ (532)  $ 4,465    $ 28,685
                 
Earnings (Loss) per Diluted Share  $ (0.16)    $ 0.08    $ (0.02)  $ 0.19    $ 1.22
                 
                 
Non-GAAP Results
                 
  Q4 2012    Q3 2012    Q4 2011 FY 2012   FY 2011
                 
Gross Profit  $ 12,597    $ 22,781    $ 21,120  $ 86,477    $ 123,178
                 
Income (Loss) from Operations  $ (5,696)    $ 4,436    $ 3,815  $ 8,803    $ 51,927
                 
Net Income (Loss)  $ (3,112)    $ 2,425    $ 2,315  $ 5,276    $ 32,695
                 
Earnings (Loss) per Diluted Share  $ (0.13)    $ 0.10    $ 0.10  $ 0.22    $ 1.39
                 
                 
A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements that are part of this release and on the investor page of our website. Non-GAAP results for all periods presented exclude the impact of amortization of acquired intangible assets.

Commenting on the company's results, president and chief executive officer Dr. Timothy J. Stultz said, "In 2012 we focused on and accomplished several important objectives. We shipped and recognized revenue on our first 450mm Atlas systems, significantly increased our penetration of the foundry segment, continued to expand our installed base of UniFire systems across multiple leading customers, achieved initial penetration of the Spark system into several sites, and strengthened our position at every one of our key strategic customer accounts.

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