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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nova Ltd | NASDAQ:NVMI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 203.41 | 199.40 | 207.42 | 0 | 01:00:00 |
1.
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Press release issued by the Registrant on, and dated May 4, 2016, and entitled: “Nova Receives over $20 Million in Orders from several Foundry Customers”.
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2.
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Press release issued by the Registrant on, and dated May 4, 2016, and entitled: “Nova Reports First Quarter 2016 Financial Results”.
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Date: May 4, 2016
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NOVA MEASURING INSTRUMENTS LTD.
(Registrant)
By: /s/
Dror David
——————————————
Dror David
Chief Financial Officer
|
Company Contact:
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
Tel: +972-73-229-5760
E-mail:
info@novameasuring.com
www.novameasuring.com
|
Investor Relations Contacts:
Hayden/ MS-IR LLC
Miri Segal
Tel: +917-607-8654
E-mail:
msegal@ms-ir.com
Or
Brett Maas
Tel: +646-536-7331
E-mail:
brett@haydenir.com
|
Company Contact:
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
Tel: +972-73-229-5760
E-mail:
info@novameasuring.com
www.novameasuring.com
|
Investor Relations Contacts:
Hayden/ MS-IR LLC
Miri Segal
Tel: +917-607-8654
E-mail:
msegal@ms-ir.com
Or
Brett Maas
Tel: +646-536-7331
E-mail:
brett@haydenir.com
|
|
·
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Revenues of $34.1 million, within guidance ($33-37 million)
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·
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Non-GAAP net income of $4.5 million, or $0.16 per diluted share, at the high end of the guidance ($0.10-$0.17 per diluted share)
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·
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Diversified customer mix yielded four customers contributing more than 10% each to the quarterly revenues, including one leading memory customer
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·
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Selected by the world’s leading foundry to deliver Optical and X-ray metrology solutions for multiple process steps at 10/7/5nm technology nodes
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·
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Growing revenues from multiple competitive wins in China
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·
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$34 million to $38 million in revenue
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·
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$0.08 to $0.15 in diluted non-GAAP EPS
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·
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$0.04 to $0.10 in diluted GAAP EPS
|
As of
|
||||||||
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March 31,
2016
|
December 31,
2015
(Audited)
|
||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
16,198 | 27,733 | ||||||
Short-term interest-bearing bank deposits
|
76,328 | 69,298 | ||||||
Trade accounts receivable
|
22,086 | 19,046 | ||||||
Inventories
|
27,974 | 27,683 | ||||||
Deferred tax assets
|
4,439 | 3,540 | ||||||
Other current assets
|
3,752 | 2,888 | ||||||
Total current assets
|
150,777 | 150,188 | ||||||
Long-term assets
|
||||||||
Long-term interest-bearing bank deposits
|
750 | 750 | ||||||
Deferred tax assets
|
4,792 | 5,735 | ||||||
Severance pay funds
|
1,541 | 1,514 | ||||||
Property and equipment, net
|
10,433 | 11,062 | ||||||
Identifiable intangible assets, net
|
17,270 | 17,906 | ||||||
Goodwill
|
20,114 | 20,114 | ||||||
Total long-term assets
|
54,900 | 57,081 | ||||||
Total assets
|
205,677 | 207,269 | ||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
||||||||
Current liabilities
|
||||||||
Trade accounts payable
|
11,188 | 14,378 | ||||||
Deferred revenues
|
2,871 | 5,828 | ||||||
Deferred tax liabilities
|
1,297 | 956 | ||||||
Other current liabilities
|
15,895 | 15,996 | ||||||
Total current liabilities
|
31,251 | 37,158 | ||||||
Long-term liabilities
|
||||||||
Deferred tax liabilities
|
5,528 | 5,760 | ||||||
Liability for employee severance pay
|
2,562 | 2,469 | ||||||
Other long-term liabilities
|
848 | 822 | ||||||
Total long-term liabilities
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8,938 | 9,051 | ||||||
Shareholders' equity
|
165,488 | 161,060 | ||||||
Total liabilities and shareholders’ equity
|
205,677 | 207,269 |
Three months ended
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||||||||
March 31,
2016
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March 31,
2015
|
|||||||
Revenues:
|
||||||||
Products
|
24,262 | 19,324 | ||||||
Services
|
9,794 | 8,170 | ||||||
Total revenues
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34,056 | 27,494 | ||||||
Cost of revenues:
|
||||||||
Products
|
9,861 | 8,639 | ||||||
Services
|
5,665 | 4,432 | ||||||
Total cost of revenues
|
15,526 | 13,071 | ||||||
Gross profit
|
18,530 | 14,423 | ||||||
Operating expenses:
|
||||||||
Research and development expenses, net
|
7,908 | 6,999 | ||||||
Sales and marketing expenses
|
5,367 | 2,806 | ||||||
General and administration expenses
|
1,810 | 1,224 | ||||||
Acquisition related expenses
|
- | 1,106 | ||||||
Amortization of acquired intangible assets
|
636 | - | ||||||
Total operating expenses
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15,721 | 12,135 | ||||||
Operating income
|
2,809 | 2,288 | ||||||
Financing income, net
|
469 | 211 | ||||||
Income before tax on income
|
3,278 | 2,499 | ||||||
Income tax expenses (benefit)
|
373 | (478 | ) | |||||
Net income for the period
|
2,905 | 2,977 | ||||||
Earnings per share:
|
||||||||
Basic
|
0.11 | 0.11 | ||||||
Diluted
|
0.11 | 0.11 | ||||||
Shares used for calculation of earnings per
share:
|
||||||||
Basic
|
27,116 | 27,210 | ||||||
Diluted
|
27,351 | 27,552 |
Three months ended
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||||||||
March 31,
2016
|
March 31,
2015
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income for the period
|
2,905 | 2,977 | ||||||
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
|
||||||||
Depreciation
|
1,285 | 1,060 | ||||||
Amortization of acquired intangible assets
|
636 | - | ||||||
Amortization of deferred stock-based compensation
|
756 | 517 | ||||||
Increase (decrease) in liability for employee termination
benefits, net
|
66 | (16 | ) | |||||
Deferred tax assets, net
|
153 | (566 | ) | |||||
Loss on securities
|
- | 42 | ||||||
Increase in trade accounts receivable
|
(3,040 | ) | (2,496 | ) | ||||
Decrease (increase) in inventories
|
(370 | ) | 117 | |||||
Decrease (increase) in other current and long term assets
|
(347 | ) | 330 | |||||
Increase (decrease) in trade accounts payable
|
(3,190 | ) | 135 | |||||
Increase (decrease) in other current liabilities and
other long-term liabilities
|
(117 | ) | 475 | |||||
Decrease in short and long term deferred
revenues
|
(2,957 | ) | (1,102 | ) | ||||
Net cash provided by (used in) operating activities
|
(4,220 | ) | 1,473 | |||||
Cash flow from investment activities:
|
||||||||
Decrease (increase) in short-term interest-bearing
bank deposits
|
(7,030 | ) | 48,497 | |||||
Payment on account of acquisition
|
- | (46,500 | ) | |||||
Additions to property and equipment
|
(577 | ) | (757 | ) | ||||
Net cash provided by (used in) investment activities
|
(7,607 | ) | 1,240 | |||||
Cash flows from financing activities:
|
||||||||
Shares issued under employee stock-based plans
|
292 | 1,092 | ||||||
Net cash provided by financing activities
|
292 | 1,092 | ||||||
Increase (decrease) in cash and cash equivalents
|
(11,535 | ) | 3,805 | |||||
Cash and cash equivalents – beginning of period
|
27,733 | 13,649 | ||||||
Cash and cash equivalents – end of period
|
16,198 | 17,454 |
Three months ended
|
||||||||||||
March 31,
2016
|
December
31, 2015
|
March 31,
2015
|
||||||||||
GAAP cost of revenues
|
15,526 | 19,168 | 13,071 | |||||||||
Amortization of acquired intangible assets in cost of products
|
- | (1,051 | ) | - | ||||||||
Stock-based compensation in cost of products
|
(96 | ) | (94 | ) | (81 | ) | ||||||
Stock-based compensation in cost of services
|
(64 | ) | (63 | ) | (32 | ) | ||||||
Non-GAAP cost of revenues
|
15,366 | 17,960 | 12,958 | |||||||||
GAAP gross profit
|
18,530 | 20,854 | 14,423 | |||||||||
Gross profit adjustments
|
160 | 1,208 | 113 | |||||||||
Non-GAAP gross profit
|
18,690 | 22,062 | 14,536 | |||||||||
GAAP gross margin as a percentage of revenues
|
54 | % | 52 | % | 52 | % | ||||||
Non-GAAP gross margin as a percentage of revenues
|
55 | % | 55 | % | 53 | % | ||||||
GAAP operating expenses
|
15,721 | 17,284 | 12,135 | |||||||||
Stock-based compensation in research and development
|
(306 | ) | (322 | ) | (190 | ) | ||||||
Stock-based compensation in sales and marketing
|
(210 | ) | (213 | ) | (160 | ) | ||||||
Stock-based compensation in general and administrative
|
(80 | ) | (73 | ) | (54 | ) | ||||||
Acquisition related expenses
|
- | - | (1,106 | ) | ||||||||
Amortization of acquired intangible assets
|
(636 | ) | (378 | ) | - | |||||||
Non-GAAP operating expenses
|
14,489 | 16,298 | 10,625 | |||||||||
Non-GAAP operating income
|
4,201 | 5,764 | 3,911 | |||||||||
GAAP operating margin as a percentage of revenues
|
8 | % | 9 | % | 8 | % | ||||||
Non-GAAP operating margin as a percentage of revenues
|
12 | % | 14 | % | 14 | % | ||||||
GAAP tax on income
|
373 | (1,407 | ) | (478 | ) | |||||||
Deferred tax assets adjustments, net
|
(153 | ) | 2,077 | 566 | ||||||||
Non-GAAP tax on income
|
220 | 670 | 88 | |||||||||
GAAP net income
|
2,905 | 5,161 | 2,977 | |||||||||
Amortization of acquired intangible assets
|
636 | 1,429 | - | |||||||||
Stock-based compensation expenses
|
756 | 765 | 517 | |||||||||
Deferred tax assets adjustments, net
|
153 | (2,077 | ) | (566 | ) | |||||||
Acquisition related expenses
|
- | - | 1,106 | |||||||||
Non-GAAP net income
|
4,450 | 5,278 | 4,034 | |||||||||
GAAP basic earnings per share
|
0.11 | 0.19 | 0.11 | |||||||||
Non-GAAP basic earnings per share
|
0.16 | 0.19 | 0.15 | |||||||||
GAAP diluted earnings per share
|
0.11 | 0.19 | 0.11 | |||||||||
Non-GAAP diluted earnings per share
|
0.16 | 0.19 | 0.15 | |||||||||
Shares used for calculation of earnings per share:
|
||||||||||||
Basic
|
27,116 | 27,073 | 27,210 | |||||||||
Diluted
|
27,351 | 27,334 | 27,552 |
1 Year Nova Chart |
1 Month Nova Chart |
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