The 10-second takeaway
For the quarter ended March 30 (Q1), Nanometrics missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly. Non-GAAP earnings per share dropped to a loss. GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Nanometrics reported revenue of $24.6 million. The six analysts polled by S&P Capital IQ predicted a top line of $26.5 million on the same basis. 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 came in at -$0.22. The six earnings estimates compiled by S&P Capital IQ forecast -$0.27 per share. Non-GAAP EPS were -$0.22 for Q1 versus $0.12 per share for the prior-year quarter. GAAP EPS were -$0.24 for Q1 compared to $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.
For the 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. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $31.9 million. On the bottom line, the average EPS estimate is -$0.20.
Next year's average estimate for revenue is $170.5 million. The average EPS estimate is -$0.11.
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.
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