Nova Measuring Instruments
The 10-second takeaway
For the quarter ended March 31 (Q1), Nova Measuring Instruments beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share expanded significantly. GAAP earnings per share dropped.
Margins contracted across the board.
Nova Measuring Instruments reported revenue of $27.4 million. The three analysts polled by S&P Capital IQ expected revenue of $26.0 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $22.6 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 $0.13. The three earnings estimates compiled by S&P Capital IQ averaged $0.12 per share. Non-GAAP EPS of $0.13 for Q1 were 30% higher than the prior-year quarter's $0.10 per share. GAAP EPS of $0.09 for Q1 were 10% lower than the prior-year quarter's $0.10 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.8%, 180 basis points worse than the prior-year quarter. Operating margin was 10.7%, 380 basis points worse than the prior-year quarter. Net margin was 8.7%, 340 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $27.4 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $106.4 million. The average EPS estimate is $0.56.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 89 members out of 93 rating the stock outperform, and four members rating it underperform. Among 10 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give Nova Measuring Instruments a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Nova Measuring Instruments is buy, with an average price target of $11.33.
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