-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NdN48qc7NT3XXJ9r3g8zkPz9n4Tb2D8lgKQFZDM8lBKdzVuMcGTF1kgBe1MkDwOK n8f7mHS69ejBE/H/ssbxIw== 0000950005-03-000500.txt : 20030424 0000950005-03-000500.hdr.sgml : 20030424 20030424165935 ACCESSION NUMBER: 0000950005-03-000500 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030424 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NANOMETRICS INC CENTRAL INDEX KEY: 0000704532 STANDARD INDUSTRIAL CLASSIFICATION: MEASURING & CONTROLLING DEVICES, NEC [3829] IRS NUMBER: 942276314 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13470 FILM NUMBER: 03662803 BUSINESS ADDRESS: STREET 1: 310 DEGUIGNE DR CITY: SUNNYVALE STATE: CA ZIP: 94086 BUSINESS PHONE: 4087461600 MAIL ADDRESS: STREET 1: 310 DEGUIGNE DRIVE CITY: SUNNYVALE STATE: CA ZIP: 94086 8-K 1 p16976_8k.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): APRIL 24, 2003 ----------------------- NANOMETRICS INCORPORATED ----------------------- (Exact name of registrant as specified in its charter) California 0-13470 94-2276314 - ---------------------------- ----------- ------------------ (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 1550 Buckeye Drive, Milpitas, California 95035 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (408) 435-9600 N/a ----------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits (c) Exhibits 99.1 Press Release, dated April 24, 2003, announcing registrant's first quarter financial results. Item 9. Regulation FD Disclosure The information under this Item 9 is being furnished pursuant Item 12 of Form 8-K.) On April 24, 2003, registrant made an earnings release, the text of which is set forth in Exhibit 99.1 attached hereto and is being furnished pursuant to Item 12 of From 8-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NANOMETRICS INCORPORATED /s/ Paul B. Nolan --------------------- Paul B. Nolan Chief Financial Officer April 24, 2003 EXHIBIT INDEX Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated April 24, 2003, announcing registrant's first quarter financial results. EX-99 3 p16976_ex99.txt PRESS RELEASE FOR RELEASE ON APRIL 24, 2003 Contact: Paul Nolan, CFO Nanometrics, Inc. 408.435.9600 x122 NANOMETRICS ANNOUNCES FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2003 Milpitas, California, April 24, 2003 - Nanometrics Incorporated (NASDAQ: NANO) today reported financial results for the first quarter ended March 31, 2003. Total revenues for the first quarter of 2003 were $9.4 million, a decrease of 4% from $9.7 million in the fourth quarter of 2002 and an increase of 17% compared to $8.0 million for the first quarter of 2002. The increase in first quarter revenues in 2003 compared to the first quarter of 2002 resulted from stronger demand for semiconductor process control equipment particularly in the U.S. and Pacific Rim countries. The net loss in the first quarter of 2003 was $9.6 million or $.80 per diluted share, compared to a net loss of $1.5 million or $.13 per diluted share for the same period last year. The net loss for the first quarter of 2003 includes a $6.0 million charge to record a valuation allowance against deferred income tax assets. The Company's financial position continues to be strong with cash and short-term investments totaling $32.7 million. Nanometrics Incorporated is a leading supplier of automated and integrated metrology equipment used for advanced integrated circuit, flat panel display and magnetic head manufacturing. The Company's corporate office is located at 1550 Buckeye Drive, Milpitas, CA 95035, with sales and service offices worldwide. Nanometrics is traded on NASDAQ under the symbol NANO. Nanometrics' website is http://www.nanometrics.com. NANOMETRICS INCORPORATED CONSOLIDATED BALANCE SHEETS (Amounts in thousands except share amounts) (Unaudited) March 31, December 31, ASSETS 2003 2002 --------- --------- CURRENT ASSETS: Cash and cash equivalents $ 6,822 $ 7,967 Short-term investments 25,903 28,899 Accounts receivable, net of allowances of $566 and $566 11,654 9,021 Inventories 24,358 25,847 Deferred income taxes 862 6,840 Prepaid expenses and other 2,993 2,803 --------- --------- Total current assets 72,592 81,377 PROPERTY, PLANT AND EQUIPMENT, NET 49,461 50,050 OTHER ASSETS 2,954 3,261 --------- --------- TOTAL $ 125,007 $ 134,688 ========= ========= LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,657 $ 1,708 Accrued payroll and related expenses 1,460 1,004 Deferred revenue 1,719 1,396 Other current liabilities 1,080 1,574 Income taxes payable 141 139 Current portion of debt obligations 934 780 --------- --------- Total current liabilities 6,991 6,601 DEFERRED INCOME TAXES 862 858 DEBT OBLIGATIONS 2,936 3,123 --------- --------- Total liabilities 10,789 10,582 --------- --------- SHAREHOLDERS' EQUITY: Common stock, no par value; 50,000,000 shares authorized; 12,006,641 and 12,006,641 outstanding 99,911 99,911 Retained earnings 14,891 24,475 Accumulated other comprehensive income (584) (280) --------- --------- Total shareholders' equity 114,218 124,106 --------- --------- TOTAL $ 125,007 $ 134,688 ========= ========= NANOMETRICS INCORPORATED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands except per share amounts) (Unaudited) Three Months Ended March 31, ------------------------ 2003 2002 -------- -------- NET REVENUES: Product sales $ 7,435 $ 6,861 Service 1,915 1,164 -------- -------- Total net revenues 9,350 8,025 -------- -------- COSTS AND EXPENSES: Cost of product sales 3,659 2,792 Cost of service 1,886 1,257 Research and development 3,373 3,386 Selling 2,886 2,222 General and administrative 1,183 915 -------- -------- Total costs and expenses 12,987 10,572 -------- -------- LOSS FROM OPERATIONS (3,637) (2,547) -------- -------- OTHER INCOME (EXPENSE): Interest income 94 165 Interest expense (24) (22) Other, net 3 (92) -------- -------- Total other income, net 73 51 -------- -------- LOSS BEFORE INCOME TAXES (3,564) (2,496) PROVISION (BENEFIT) FOR INCOME TAXES 6,020 (949) -------- -------- NET LOSS $ (9,584) $ (1,547) ======== ======== NET LOSS PER SHARE: Basic and diluted $ (0.80) $ (0.13) ======== ======== SHARES USED IN PER SHARE COMPUTATION: Basic and diluted 12,007 11,790 ======== ======== -----END PRIVACY-ENHANCED MESSAGE-----