Nanometrics Sees Fourth-Quarter Revenue Shortfall - TheStreet

Nanometrics

(NANO) - Get Report

said revenue for the fourth quarter will fall below initial projections because of shipment rescheduling by a large customer in Korea.

The company said initial forecasts called for revenue to increase 8% to 10% from the $20.7 million in the third quarter. The percentage increase translates into revenue of $22.36 million to $22.77, but the company now expects revenue of $20 million for the quarter.

Nanometrics, a supplier of automated metrology equipment used in integrated circuits, said it benefited from semiconductor capital spending this year, but "customer uncertainty warrants a cautious approach to quarterly shipments in the near term."

The company, which is based in Milpitas, Calif., gave no earnings projection for the period, but four analysts polled by

First Call/Thomson Financial

are calling for Nanometrics to earn 35 cents a share, up from income of 17 cents in the year-ago period.

Shares of Nanometrics fell $4.50, or 26.5%, to $12.50 in recent

Nasdaq

trading.