-----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, Q9kcF4nLqHl2iMtoA9rvR7l9I+CbKqhCLBZoBjReJUpJS/PpPPeRvnDonsOKrRhZ hGqjSHDNEfuYohfFV1sNeg== 0000950005-04-000784.txt : 20041102 0000950005-04-000784.hdr.sgml : 20041102 20041102105424 ACCESSION NUMBER: 0000950005-04-000784 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041102 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041102 DATE AS OF CHANGE: 20041102 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: 041111998 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 p18969_8k.txt FORM 8-K 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): NOVEMBER 2, 2004 ----------------------- 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c)) Item 2.02. Results of Operations and Financial Condition. On November 2, 2004, Nanometrics Incorporated (the "Company") announced in a press release the Company's financial results for its third quarter ended October 2, 2004. A copy of that press release is attached hereto as Exhibit 99.1. The information in this current report on Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") nor otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, or the Exchange Act, regardless of any general incorporation language in such filing. Item 9.01. Financial Statements and Exhibits. (c) Exhibits 99.1 Press Release, dated November 2, 2004, announcing third quarter financial results. 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 Date: November 2, 2004 By: /s/ Paul B. Nolan ------------------------- Paul B. Nolan Chief Financial Officer EXHIBIT INDEX Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated November 2, 2004, announcing third quarter financial results. EX-99 2 p18969-ex99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 FOR RELEASE ON NOVEMBER 2, 2004 Contact: Paul Nolan, CFO Nanometrics Incorporated 408.435.9600 x122 NANOMETRICS ANNOUNCES INCREASED SALES AND PROFITS FOR THE THIRD QUARTER OF 2004 Milpitas, California, November 2, 2004 - Nanometrics Incorporated (NASDAQ: NANO) today reported improved financial results for the third quarter which ended on October 2, 2004. Total net revenues for the third quarter of 2004 were $20.2 million, an increase of 25% compared to the second quarter of 2004 and an increase of 100% from the third quarter of 2003. The increase in revenues during the third quarter of 2004 resulted from increased sales of the Company's advanced 300mm wafer measurement equipment. Significant sales increases were experienced in both the U.S. and Asia. Net income in the third quarter of 2004 was $2.6 million or $0.20 per diluted share compared to a net loss of $3.0 million or a $0.25 loss per diluted share for the same period last year. For the nine months ended October 2, 2004, Nanometrics' total net revenues were $50.1 million, an increase of 72% from the same period in 2003. Net income for the first nine months of 2004 was $2.7 million, or $0.20 per diluted share compared to a net loss of $16.7 million or a $1.39 loss per diluted share for the same period in 2003. The net loss for the first nine 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 $30.6 million and working capital of $64.5 million. About Nanometrics: Nanometrics Incorporated is a leading supplier of advanced integrated and standalone metrology equipment used in the semiconductor industry. The Company's corporate office is located at 1550 Buckeye Drive, Milpitas, CA 95035, with sales and service offices worldwide. Nanometrics is traded on the NASDAQ National Market under the symbol NANO. Nanometrics' website is http://www.nanometrics.com. An earnings conference call will be held on November 2, 2004 at 8:00 a.m. (PT). To participate in the earnings conference call, the dial-in number is 800-967-7140 in the United States and 719-457-2629 for international callers. NANOMETRICS INCORPORATED CONSOLIDATED BALANCE SHEETS (Amounts in thousands except share amounts) (Unaudited)
October 2, January 3, ASSETS 2004 2004 -------- -------- CURRENT ASSETS: Cash and cash equivalents $ 12,652 $ 7,949 Short-term investments 17,939 21,943 Accounts receivable, net of allowances of $581 and $576 20,948 14,522 Inventories 26,328 24,264 Prepaid expenses and other 863 1,015 -------- -------- Total current assets 78,730 69,693 PROPERTY, PLANT AND EQUIPMENT, Net 48,434 49,738 INTANGIBLE ASSETS 1,017 1,322 OTHER ASSETS 1,217 987 -------- -------- TOTAL $129,398 $121,740 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,374 $ 2,047 Accrued payroll and related expenses 2,327 1,593 Deferred revenue 5,085 2,345 Other current liabilities 1,582 1,436 Income taxes payable 1,638 1,528 Current portion of debt obligations 1,238 1,157 -------- -------- Total current liabilities 14,244 10,106 DEFERRED INCOME TAXES AND OTHER LONG-TERM LIABILITIES 287 545 DEBT OBLIGATIONS 2,167 2,648 -------- -------- Total liabilities 16,698 13,299 -------- -------- SHAREHOLDERS' EQUITY: Common stock, no par value; 50,000,000 shares authorized; 12,366,483 and 12,166,016 outstanding 102,649 101,099 Retained earnings 9,669 7,008 Accumulated other comprehensive income (loss) 382 334 -------- -------- Total shareholders' equity 112,700 108,441 -------- -------- TOTAL $129,398 $121,740 ======== ========
NANOMETRICS INCORPORATED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share amounts) (Unaudited)
Three Months Ended Nine Months Ended ------------------------------ ----------------------------- October 2, September 27, October 2, September 27, 2004 2003 2004 2003 -------- -------- -------- -------- NET REVENUES: Product sales $ 18,372 $ 8,514 $ 44,209 $ 23,814 Service 1,855 1,617 5,900 5,401 -------- -------- -------- -------- Total net revenues 20,227 10,131 50,109 29,215 -------- -------- -------- -------- COSTS AND EXPENSES: Cost of product sales 7,637 4,539 18,962 13,026 Cost of service 2,067 1,425 5,326 4,918 Research and development 3,358 3,357 9,517 10,199 Selling 2,795 2,867 8,952 8,465 General and administrative 1,369 1,130 4,027 3,464 -------- -------- -------- -------- Total costs and expenses 17,226 13,318 46,784 40,072 -------- -------- -------- -------- INCOME (LOSS) FROM OPERATIONS 3,001 (3,187) 3,325 (10,857) -------- -------- -------- -------- OTHER INCOME (EXPENSE) Interest income 69 60 174 230 Interest expense (28) (24) (78) (71) Other, net (109) 208 (294) 176 -------- -------- -------- -------- Total other income, net (68) 244 (198) 335 -------- -------- -------- -------- INCOME (LOSS) BEFORE INCOME TAXES 2,933 (2,943) 3,127 (10,522) PROVISION FOR INCOME TAXES (360) (53) (464) (6,141) -------- -------- -------- -------- NET INCOME (LOSS) $ 2,573 $ (2,996) $ 2,663 $(16,663) ======== ======== ======== ======== NET INCOME (LOSS) PER SHARE: Basic $ 0.21 $ (0.25) $ 0.22 $ (1.39) ======== ======== ======== ======== Diluted $ 0.20 $ (0.25) $ 0.20 $ (1.39) ======== ======== ======== ======== SHARES USED IN PER SHARE COMPUTATION: Basic 12,331 12,033 12,261 12,016 ======== ======== ======== ======== Diluted 12,742 12,033 13,210 12,016 ======== ======== ======== ========
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