-----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, LloPWCzotFqm35LpYY3VVqEFyYEM6CS97gfWX+5xnilUx7qtfg5T8jLT9NqszyhV bOJoubN3Wpv1W9+i640gBw== 0000950005-04-000610.txt : 20040729 0000950005-04-000610.hdr.sgml : 20040729 20040729112238 ACCESSION NUMBER: 0000950005-04-000610 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040729 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040729 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: 04937890 BUSINESS ADDRESS: STREET 1: 1550 BUCKEYE DRIVE CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 408-435-9600 MAIL ADDRESS: STREET 1: 1550 BUCKEYE DRIVE CITY: MILPITAS STATE: CA ZIP: 95035 8-K 1 p18774_8k.txt CURRENT REPORT UNITED STATES 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): JULY 29, 2004 ----------------------- NANOMETRICS INCORPORATED ----------------------- (Exact name of registrant as specified in its charter) California 0-13470 94-2276314 - ---------------------------- ----------------------- ------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) 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 July 29, 2004, announcing registrant's second quarter financial results. Item 12. Results of Operations and Financial Condition. The information provided in this Form 8-K and the Exhibit attached hereto is furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. On July 29, 2004, Nanometrics Incorporated issued a press release announcing its financial results for the second quarter of 2004. A copy of this press release is furnished as Exhibit 99.1 to this Form 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 July 29, 2004 EXHIBIT INDEX Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated July 29, 2004, announcing registrant's second quarter financial results. EX-99.1 2 p18774_ex99-1.txt PRESS RELEASE DATED 07/29/2004 FOR RELEASE ON JULY 29, 2004 Contact: Paul Nolan, CFO Nanometrics Incorporated 408.435.9600 x122 NANOMETRICS ANNOUNCES A PROFITABLE SECOND QUARTER OF 2004 Milpitas, California, July 29, 2004 - Nanometrics Incorporated (NASDAQ: NANO) today reported its financial results for the second quarter of 2004. Total net revenues for the second quarter of 2004 were $16.2 million, an increase of 19% compared to $13.7 million in the first quarter of 2004, and an increase of 67% compared to the second quarter of 2003. The increase in revenues during the second quarter of 2004 compared to the same period in 2003 resulted from increased demand for the Company's semiconductor process control metrology equipment particularly in the U.S. and in Pacific Rim countries. The net income in the second quarter of 2004 was $1.3 million or $0.10 per diluted share compared to a net loss of $4.1 million or a $0.34 loss per diluted share for the same period last year. For the six months ended June 30, 2004, total net revenues were $29.9 million, an increase of 57% from the same period in 2003. Net income for the first six months of 2004 was $90,000 or $0.01 per diluted share compared to a net loss of $13.7 million or a $1.14 loss per diluted share for the same period last year. The net loss for the first six months 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 $26.9 million and working capital of $61.3 million. About Nanometrics: Nanometrics Incorporated is a leading supplier of automated metrology equipment used for advanced integrated circuit and flat panel display 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 CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands except share amounts) (Unaudited)
June 30, December 31, 2004 2003 ------- ------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 26,885 $ 7,949 Short-term investments - 21,943 Accounts receivable, net of allowances of $582 and $576 18,751 14,522 Inventories 28,076 24,264 Prepaid expenses and other 1,156 1,015 ------------ ------------ Total current assets 74,868 69,693 PROPERTY, PLANT AND EQUIPMENT, NET 49,085 49,738 INTANGIBLE ASSETS 1,119 1,322 OTHER ASSETS 1,011 987 ------------ ------------ TOTAL $ 126,083 $ 121,740 ============ ============ LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,836 $ 2,047 Accrued payroll and related expenses 2,057 1,593 Deferred revenue 3,337 2,345 Other current liabilities 1,376 1,436 Income taxes payable 1,392 1,528 Current portion of debt obligations 2,568 1,157 ------------ ------------ Total current liabilities 13,566 10,106 DEFERRED INCOME TAXES AND OTHER LONG-TERM LIABILITIES 375 545 DEBT OBLIGATIONS 2,305 2,648 ------------ ------------ Total liabilities 16,246 13,299 ------------ ------------ SHAREHOLDERS' EQUITY: Common stock, no par value; 50,000,000 shares authorized; 12,303,800 and 12,166,016 outstanding 102,254 101,099 Retained earnings 7,098 7,008 Accumulated translation adjustment 485 334 ------------ ------------ Total shareholders' equity 109,837 108,441 ------------ ------------ TOTAL $ 126,083 $ 121,740 ============ ============
NANOMETRICS INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share amounts) (Unaudited)
Three Months Ended Six Months Ended June 30, June 30, 2004 2003 2004 2003 ---------- ---------- ----------- ----------- NET REVENUES: Product sales $ 14,174 $ 7,865 $ 25,837 $ 15,300 Service 2,037 1,869 4,045 3,784 ---------- ---------- ------------ ----------- Total net revenues 16,211 9,734 29,882 19,084 ---------- ---------- ------------ ----------- COSTS AND EXPENSES: Cost of product sales 5,922 4,828 11,325 8,487 Cost of service 1,648 1,607 3,259 3,493 Research and development 2,670 3,469 6,159 6,842 Selling 3,091 2,712 6,157 5,598 General and administrative 1,363 1,151 2,658 2,334 ---------- ---------- ------------ ----------- Total costs and expenses 14,694 13,767 29,558 26,754 ---------- ---------- ------------ ----------- INCOME (LOSS) FROM OPERATIONS 1,517 (4,033) 324 (7,670) OTHER INCOME (EXPENSE): Interest income 49 76 105 170 Interest expense (21) (23) (50) (47) Other, net (182) (35) (185) (32) ---------- ---------- ------------ ----------- Total other income, net (154) 18 (130) 91 ---------- ---------- ------------ ----------- INCOME (LOSS) BEFORE INCOME TAXES 1,363 (4,015) 194 (7,579) PROVISION FOR INCOME TAXES 61 68 104 6,088 ---------- ---------- ------------ ----------- NET INCOME (LOSS) $ 1,302 $ (4,083) $ 90 $ (13,667) ========== ========== ============ =========== NET INCOME (LOSS) PER SHARE: Basic $ 0.11 $ (0.34) $ 0.01 $ (1.14) ========== ========== ============ ========== Diluted $ 0.10 $ (0.34) $ 0.01 $ (1.14) ========== ========== ============ ========== SHARES USED IN PER SHARE COMPUTATION: Basic 12,262 12,008 12,226 12,008 ========== ========== ============ ========== Diluted 13,292 12,008 13,445 12,008 ========== ========== ============ ==========
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