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Milpitas, California. November 21, 2005.
Nanometrics Announces Final Third Quarter Fiscal 2005 Results
Nanometrics Incorporated (Nasdaq: NANO), a leading supplier of advanced integrated and standalone metrology equipment for the semiconductor industry, today announced its results for the third quarter of fiscal year 2005 ending October 1, 2005. Revenues for the third quarter were $14.2 million, a decrease of 29 percent from the restated revenues of $20.1 million for the third quarter of fiscal 2004. The net loss for the fiscal 2005 third quarter was $3.4 million or $0.26 per share. This compares to net income of $2.2 million or $0.17 per share for the restated third quarter of fiscal 2004.
Revenues for the nine-month period ending October 1, 2005 were $56.3 million, a 14 percent increase over the revenues of $49.6 million for the restated nine-month period ending October 2, 2004. Net income for the nine-month period ending October 1, 2005 was $3.6 million, or $0.27 per diluted share, compared to net income of $1.6 million, or $0.12 per diluted share, for the restated nine-month period ended October 2, 2004.
Earlier today, the Company filed its fiscal year 2005 third quarter report on Form 10-Q with the Securities and Exchange Commission. Although not required, we have, for the convenience of investors, included in that report certain disclosures of unaudited restated selected financial data for the year ended January 1, 2005 and the six-month period ended July 2, 2005.
The following is a summary of those disclosures, in thousands of dollars, except per share amounts:
Inc/(Dec) from Previously Reported to As Restated  |
| |
Six months ended
July 2, 2005 |
|
Year Ended
January 1, 2005 |
| Product sales |
$ (275)  |
|
$ (764) |
| Service revenues |
46 |
|
-- |
| Cost of product sales |
111 |
|
257 |
| Selling expenses |
25 |
|
306 |
| Income from operations |
(365) |
|
(1,327) |
| Income tax provision |
-- |
|
-- |
| Net income (loss) |
(365) |
|
(1,327) |
| Net loss per share: |
|
|
|
Basic
|
$ (0.03) |
|
$ (0.11) |
| Diluted |
$ (0.03) |
|
$ (0.10) |
“We are pleased at the performance of our finance staff in discovering these issues and then working with our auditors to analyze them quickly,” said Doug McCutcheon, the company’s executive vice president and chief financial officer. “Their tireless efforts enabled us to disclose the updated financial information in a timely manner given the circumstances.”
Q3
2005 consolidated balance sheet and income statement [pdf]
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 integrated circuit manufacturers to improve yields, increase productivity and lower their manufacturing costs. The Company maintains its headquarters in Milpitas, and sales and service offices worldwide. Nanometrics is traded on NASDAQ under the symbol NANO. Nanometrics’ website is: http://www.nanometrics.com. A conference call to discuss results for the third quarter of 2005 will be held on November 22, 2005 at 8:00 a.m. PT (11:00 a.m. ET). To participate in the earnings conference call, the dial-in numbers are 866-543-6411 in the United States or 617-213-8900 for international calls. The passcode is 79054262. If you are unable to participate during the live conference call, a webcast recording will be made available on the Nanometrics website.
Contact:
Doug McCutcheon
Nanometrics
408.435.9600
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