Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. The company offers in-line and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment. Its products include thin film and optical CD process control for dimensional, films, and material metrology measurements for process control across various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical polishing, and deposition. The company serves various sectors of the integrated circuit manufacturing industry, including logi...
Weizmann Science Park
Einstein Street, POB 266
Ness Ziona, 7610201
Founded in 1993
Nova Measuring Instruments Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter Ending March 31, 2017 and Provides Tax Guidance for the Year 2017
Feb 14 17
Nova Measuring Instruments Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenues of $50,212,000 compared to $40,022,000 a year ago. Operating income was $10,781,000 compared to $3,570,000 a year ago. Income before tax on income was $10,971,000 compared to $3,754,000 a year ago. Net income was $8,364,000 or $0.30 per basic and diluted share compared to $5,161,000 or $0.19 per basic and diluted share a year ago. Net cash used in operating activities was $1,518,000 compared to net cash provided by operating activities of $12,716,000 a year ago. Additions to property and equipment were $1,518,000 compared to $2,205,000 a year ago. Non-GAAP operating income was $12,108,000 compared to $5,764,000 a year ago. Non-GAAP net income was $11,719,000 or $0.42 per diluted share compared to $5,278,000 or $0.19 per diluted share a year ago.
For the year, the company reported total revenues of $163,903,000 compared to $148,514,000 a year ago. Operating income was $10,166,000 compared to $11,581,000 a year ago. Income before tax on income was $11,382,000 compared to $12,224,000 a year ago. Net income was $9,644,000 or $0.35 per diluted share compared to $15,725,000 or $0.57 per diluted share a year ago. Net cash used in operating activities was $4,160,000 compared to net cash provided by operating activities of $25,788,000 a year ago. Additions to property and equipment were $4,160,000 compared to $4,373,000 a year ago. Non-GAAP operating income was $30,210,000 compared to $21,932,000 a year ago. Non-GAAP net income was $30,321,000 or $1.10 per diluted share compared to $21,030,000 or $0.76 per diluted share a year ago.
The company provided earnings guidance for the first quarter ending March 31, 2017. For the first quarter of 2017, the company expects $50 million to $54 million in revenue, $0.31 to $0.39 in diluted non-GAAP EPS and $0.37 to $0.45 in diluted GAAP EPS. Free cash flow is expected to be very strong at a record level of between $15 million and $20 million.
For the year, the company expects the effective tax rate to increase approximately 20% on a GAAP basis and 15% on a non-GAAP basis.