Nanometrics (Nasdaq: NANO) is expected to report Q2 earnings on July 30. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Nanometrics's revenues will wane -39.3% and EPS will shrink to a loss.

The average estimate for revenue is $32.3 million. On the bottom line, the average EPS estimate is -$0.20.

Revenue details
 Last quarter, Nanometrics booked revenue of $24.6 million. GAAP reported sales were 56% lower than the prior-year quarter's $55.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at -$0.22. GAAP EPS were -$0.24 for Q1 versus $0.07 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 45.4%, 90 basis points worse than the prior-year quarter. Operating margin was -39.1%, much worse than the prior-year quarter. Net margin was -22.7%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $164.8 million. The average EPS estimate is -$0.04.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Nanometrics is outperform, with an average price target of $17.30.

Is Nanometrics the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.