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Milpitas, California. February 23, 2005.
Source: Nanometrics Incorporated.
Nanometrics Announces Record Financial Results for 2004
Nanometrics Incorporated (NASDAQ: NANO) today reported financial results for the fourth quarter and year ended on January 1, 2005.
Total revenues for the fourth quarter of 2004 were $20.6 million, an increase of 2% compared to the third quarter of 2004 and an increase of 66% compared to the fourth quarter of 2003. The increase in fourth quarter sales in 2004 resulted from stronger demand for semiconductor process control metrology equipment primarily in the U.S. and in Pacific Rim countries. The net income in the fourth quarter of 2004 was $2.4 million or $0.18 per diluted share compared to a net loss of $804,000 or a loss of $0.07 per diluted share for the same period last year.
For the year ended January 1, 2005, Nanometrics' revenues increased 70% to $70.7 million, which was a record for the company, compared to revenues of $41.6 million in 2003. Net income for the year ended January 1, 2005 was $5.0 million or $0.38 per diluted share, compared to a net loss of $17.5 million or a loss of $1.45 per diluted share in 2003. The net loss in 2003 includes a $6.0 million charge to record a valuation allowance against deferred income tax assets, as previously reported in the first quarter of 2003. The Company's financial position continues to be strong with cash and equivalents and short-term investments of $33.9 million and working capital of $69.9 million.
To view detailed Q4 2004 consolidated balance sheet and income statement, please visit our website at www.nanometrics.com.
Nanometrics Incorporated is a leading supplier of advanced integrated and standalone metrology equipment used in the semiconductor industry. The Company's corporate office is located at 1550 Buckeye Drive, Milpitas, CA 95035, with sales and service offices worldwide. Nanometrics is traded on the NASDAQ National Market under the symbol NANO. Nanometrics' website is http://www.nanometrics.com. An earnings conference call will be held on February 23, 2005 at 8:00 A.M. Pacific Time. To participate in the earnings conference call, the dial-in numbers are 800-561-2731 in the United States or 617-614-3528 for international calls. The passcode is 86564513.
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