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Milpitas, California. October 5, 2005.
Nanometrics Reports Preliminary Third Quarter Results
Nanometrics, Inc., (Nasdaq: NANO), a leading supplier of advanced
integrated and standalone metrology equipment for the semiconductor
industry, today announced that its consolidated revenues for the fiscal
third quarter ended October 1, 2005 would be below the range of guidance
provided in the Company’s July 28, 2005 conference call. The
guidance at that time was for third quarter revenues to be ten to
twenty percent below second quarter revenues, or $15.0 to $16.9 million.
The Company now expects revenues for the third quarter to be approximately
$14.0 million.
“While we are disappointed not to achieve our stated revenue
goals for the third quarter, we are encouraged when we analyze the
causes of the shortfall and the prospects for the upcoming fourth
quarter,” said executive vice president, finance and administration
and chief financial officer, Douglas McCutcheon. “While we did
see some shipments push out to the fourth quarter, the substantial
portion of the shortfall related to units that had shipped and were
undergoing installation during the third quarter, but which had not
yet obtained final acceptance – a necessary requirement for
revenue recognition. We expect much of this revenue will be recognized
in the Company’s fourth quarter ending December 31, 2005,”
McCutcheon continued.
The Company expects to return to sequentially higher revenues in the
fiscal fourth quarter; however, no more specific guidance for the
fourth quarter will be provided until the final financial results
for the third quarter are announced on October 27, 2005.
About Nanometrics
Nanometrics is a leader in the design, manufacture and marketing of
high-performance process control metrology systems used in the manufacture
of semiconductors, integrated circuits and flat panel displays. Nanometrics
metrology systems measure various thin film properties, critical circuit
dimensions and layer-to-layer circuit alignment (overlay) during various
steps of the manufacturing process, enabling semiconductor and IC
manufacturers to improve yields, increase productivity and lower manufacturing
costs. The Company maintains its headquarters in Milpitas, CA, with
sales and service offices worldwide. Nanometrics is traded on NASDAQ
under the symbol NANO. The Company’s website is http://www.nanometrics.com.
Contact:
Doug McCutcheon
Nanometrics
408.435.9600
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