trim marzo 2002
Nanometrics Announces Financial Results for the First Quarter of 2002
MILPITAS, Calif.--(BUSINESS WIRE)--April 18, 2002--Nanometrics Incorporated (Nasdaq:NANO - news) today reported financial results for the first quarter ended March 31, 2002.
Total revenues for the first quarter of 2002 were $8.0 million, better than the Company's previous guidance, a decrease of 44% compared with $14.4 million for the first quarter of 2001. The reduction in first quarter revenues in 2002 resulted from weaker demand for semiconductor process control equipment particularly in the U.S. and Pacific Rim countries. The net loss in the first quarter of 2002 was $1.5 million or $0.13 per diluted share, compared to a net income of $1.6 million or $0.14 per diluted share for the same period last year. The Company's financial position continues to be strong with cash and short-term investments totaling $43.4 million.
About Nanometrics: Nanometrics, Inc. is a leading supplier of integrated and standalone metrology equipment used for advanced IC, flat panel display and magnetic head manufacturing. The Company's corporate office is located at 1550 Buckeye Drive, Milpitas CA 95035 with sales and service offices worldwide. Nanometrics is traded on Nasdaq under the symbol NANO. Nanometrics' website is
http://www.nanometrics.com.
NANOMETRICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except share amounts)
(Unaudited)
March 31, December 31,
ASSETS 2002 2001
CURRENT ASSETS:
Cash and equivalents $ 41,428 $ 47,227
Short-term investments 1,989 --
Accounts receivable, net of allowances
of $561 and $562 10,009 9,131
Inventories 25,785 26,311
Deferred income taxes 5,378 3,974
Prepaid expenses and other 727 2,474
------------ -----------
Total current assets 85,316 89,117
PROPERTY, PLANT AND EQUIPMENT, NET 49,423 48,412
DEFERRED INCOME TAXES 81 225
OTHER ASSETS 4,491 4,601
------------ -----------
TOTAL $ 139,311 $ 142,355
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 858 $ 2,906
Accrued payroll and related expenses 1,398 1,148
Deferred revenue 2,574 2,261
Other current liabilities 2,301 1,981
Income taxes payable 102 272
Current portion of debt obligations 374 378
------------ -----------
Total current liabilities 7,607 8,946
OTHER LONG-TERM LIABILITIES -- 250
DEBT OBLIGATIONS 3,178 3,314
------------ -----------
Total liabilities 10,785 12,510
------------ -----------
SHAREHOLDERS' EQUITY:
Common stock, no par value;
25,000,000 shares authorized;
11,801,199 and 11,787,033 outstanding 98,703 98,531
Retained earnings 31,196 32,743
Accumulated other comprehensive income (1,373) (1,429)
------------ -----------
Total shareholders' equity 128,526 129,845
------------ -----------
TOTAL $ 139,311 $ 142,355
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NANOMETRICS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands except per share amounts)
(Unaudited)
Three Months Ended
March 31,
2002 2001
------ ------
NET REVENUES:
Product sales $ 6,861 $ 12,939
Service 1,164 1,486
-------------- -------------
Total net revenues 8,025 14,425
-------------- -------------
COSTS AND EXPENSES:
Cost of product sales 2,792 5,291
Cost of service 1,257 1,466
Research and development 3,386 2,595
Selling 2,222 2,033
General and administrative 915 939
-------------- -------------
Total costs and expenses 10,572 12,324
-------------- -------------
INCOME (LOSS) FROM OPERATIONS (2,547) 2,101
-------------- -------------
OTHER INCOME (EXPENSE):
Interest income 165 993
Interest expense (22) (22)
Other, net (92) (409)
-------------- -------------
Total other income, net 51 562
-------------- -------------
INCOME (LOSS) BEFORE INCOME TAXES (2,496) 2,663
PROVISION (BENEFIT) FOR INCOME TAXES (949) 1,040
-------------- -------------
NET INCOME (LOSS) $ (1,547) $ 1,623
============== =============
NET INCOME (LOSS) PER SHARE:
Basic $ (0.13) $ 0.14
============== =============
Diluted $ (0.13) $ 0.14
============== =============
SHARES USED IN PER SHARE COMPUTATION:
Basic 11,790 11,616
============== =============
Diluted 11,790 11,992
============== =============