Printer Friendly
The Free Library
23,396,934 articles and books


Nanometrics Announces Financial Results for the First Quarter of 1999.

SUNNYVALE, Calif.--(BUSINESS WIRE)--April 22, 1999--

Nanometrics Incorporated (Nasdaq:NANO) today reported financial results for the first quarter ended March 31, 1999.

Total revenues for the first quarter of 1999 were $6.2 million, an improvement of 24% over the fourth quarter of 1998. Demand for the company's products increased primarily in Taiwan, Korea and the U.S. This improvement in shipments resulted from higher sales of the company's new products including its film measurement systems for handling 300mm wafers, its metrology systems for overlay registration of patterns on wafers in production and its integrated film measurement module built into production equipment.

Total revenues in the first quarter, however, were down 41% compared with $10.5 million for the first quarter of 1998. The net loss in the first quarter of 1999 was $201,000 or $.02 per diluted share compared to a net income of $624,000 or $.07 per diluted share for the same period last year. The company's financial position continues to be strong with cash and equivalents and short-term investments of $13.9 million and working capital of $30.4 million.

Nanometrics Inc. is a leading supplier of automated metrology equipment used for advanced integrated circuit, flat panel display and magnetic head manufacturing. The company's corporate office is located at 310 DeGuigne Drive, Sunnyvale, CA 94086, with sales and service offices worldwide. Nanometrics is traded on NASDAQ under the symbol NANO. Nanometrics' website is http://www.nanometrics.com. -0-

 Nanometrics Inc.
 Consolidated Statements of Operations
 (Amounts in thousands, except per share amounts)
 (Unaudited)

 Three Months Ended
 March 31,
 1999 1998
NET REVENUES:
 Product sales $ 5,265 $ 9,618
 Service 924 920
 ------- -------
 Total net revenues 6,189 10,538

COSTS AND EXPENSES:
 Cost of product sales 2,552 3,629
 Cost of service 1,104 985
 Research and development 1,016 1,231
 Acquired in-process research and development -- 1,421
 Selling 1,277 1,572
 General and administrative 641 785
 ------- -------
 Total costs and expenses 6,590 9,623

INCOME (LOSS) FROM OPERATIONS (401) 915

TOTAL OTHER INCOME, NET 66 126

INCOME (LOSS) BEFORE INCOME TAXES (335) 1,041

PROVISION (BENEFIT) FOR INCOME TAXES (134) 417

NET INCOME (LOSS) $ (201) $ 624
 ======= =======
NET INCOME (LOSS) PER SHARE:
 Basic $ (0.02) $ 0.07
 ======= =======
 Diluted $ (0.02) $ 0.07
 ======= =======

SHARES USED IN PER SHARE COMPUTATION
 Basic 8,701 8,545
 ======= =======
 Diluted 8,701 8,978
 ======= =======

 Nanometrics Inc.
 Consolidated Balance Sheets
 (Amounts in thousands except share amounts)

 March 31, December 31,
 1999 1998
ASSETS (unaudited)
Current assets:
 Cash and equivalents $ 3,996 $ 1,518
 Short-term investments 9,897 9,913
 Accounts receivable, less allowance for
 doubtful accounts of $417 and $420 6,592 8,458
 Inventories 10,756 11,719
 Deferred income taxes 1,438 1,441
 Prepaid expenses and other 1,815 2,328
 -------- --------
Total current assets 34,494 35,377

Property, plant and equipment, net 2,324 2,481
Deferred income taxes 573 560
Other assets 811 887
 -------- --------
 $ 38,202 $ 39,305

LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities:
 Accounts payable $ 907 $ 1,395
 Accrued payroll and related expenses 617 317
 Other current liabilities 1,562 1,720
 Current portion of debt obligations 992 1,324
 -------- --------
 Total current liabilities 4,078 4,756
Deferred rent 50 43
Debt obligations 2,246 2,496
 -------- --------
 Total liabilities 6,374 7,295

Shareholders' equity:
 Common stock, no par value;
 25,000,000 shares authorized;
 8,736,785 and 8,690,643 outstanding 14,309 14,170
 Retained earnings 17,773 17,974
 Accumulated other comprehensive loss (254) (134)
 -------- --------
 Total shareholders' equity 31,828 32,010
 -------- --------
 $ 38,202 $ 39,305
 ======== ========
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Apr 22, 1999
Words:596
Previous Article:Edrington Joins Board of Directors for MAYAN Networks.
Next Article:Environmental Tips for Earth Day.
Topics:



Related Articles
Nanometrics reports a first quarter profit as revenues increase 72 percent.
Nanometrics reports strong rise in earnings on 82 percent increase in third quarter revenues.
Nanometrics Announces Record Sales for 1996.
Nanometrics Announces Record Sales and Profits for 1997.
Nanometrics Completes Acquisition of Key Semiconductor Metrology Product.
Nanometrics Announces Third Quarter Revenues and Profits.
Nanometrics Opens New Manufacturing Facility in Korea to Serve Local and World Markets.
Nanometrics Announces Financial Results for 1998.
Photonics Spectra Honors -- Nanometrics NanoSpec 9000.
Nanometrics Believes KLA-Tencor Patent Infringement Claim Has No Merit; Lawsuit Possibly Motivated by Competitive Issues Rather Than Intellectual...

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters