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Posted: February 21, 2008
Nanometrics Reports Fourth Quarter and Full Year Financial Results for 2007
(Nanowerk News) Nanometrics Incorporated (Nasdaq: NANO), a leading supplier of advanced metrology equipment to the semiconductor industry, today announced its financial results for the fourth quarter and full year ended December 29, 2007.
Revenues for the fourth quarter were $33.2 million, representing a 33% increase from fourth quarter 2006 revenues of $24.9 million and a 14% decrease from third quarter 2007 revenues of $38.6 million. Net loss for the fourth quarter of 2007 was $1.3 million, or $0.07 per share. This compares to a net loss of $12.1 million, or $0.69 per share, for the fourth quarter of 2006 and a net profit of $2.0 million, or $0.11 per share, for the third quarter of 2007.
The fourth quarter 2007 operating loss of $1.3 million includes non-cash charges of $1.3 million for amortization of acquired intangible assets, $1.0 million for stock-based compensation expenses and $1.0 million for depreciation.
For the fiscal year ended December 29, 2007, Nanometrics’ revenues were a record $146.3 million, an increase of 52% over 2006 revenues of $96.4 million. Net loss for fiscal 2007 was $4.0 million or $0.22 per share, compared to a net loss of $22.1 million or $1.47 per share for fiscal 2006. Non-cash charges for the full year totaled $5.8 million for amortization of acquired intangible assets and other acquisition-related charges, $3.8 million for stock-based compensation and $3.5 million for depreciation.
“2007 was a turnaround year for Nanometrics. Our team successfully responded to a number of major initiatives and significantly improved the overall performance of the company,” commented Tim Stultz, president and chief executive officer of Nanometrics. “In addition to completing the integration of two acquired companies, consolidating our global manufacturing facilities and rationalizing our overall cost structure, we grew revenues by more than 50% and increased gross margin by five percentage points. As we head into 2008, we are confident that we are a more competitive, nimble and operationally efficient company than at any time in Nanometrics’ recent history.”
Nanometrics is a leader in the design, manufacture and marketing of high-performance process control metrology systems used in semiconductor manufacturing. Nanometrics standalone and integrated metrology systems measure various thin film properties, critical dimensions, overlay control and optical, electrical and material properties, including the structural composition of silicon and compound semiconductor devices, during various steps of the manufacturing process. These systems enable semiconductor manufacturers to improve yields, increase productivity and lower their manufacturing costs. The company maintains its headquarters in Milpitas, California, with sales and service offices worldwide. Nanometrics is traded on the NASDAQ Global Market under the symbol NANO. Nanometrics’ website is http://www.nanometrics.com.