Nova Measuring revenues up 24% YoY

Nova Measuring Instruments (Nasdaq: NVMI) first quarter 2016 total revenues were USD34.1 million, a decrease of 15 percent compared to the fourth quarter of 2015, and an increase of 24 percent relative to the first quarter of 2015.

Gross margin for the first quarter of 2016 was 54 percent. This is compared with 52 percent in the fourth quarter and first quarter of 2015.

Operating expenses in the first quarter of 2016 were USD15.7 million, and included USD0.6 million of amortization of acquired intangible assets. This is compared with USD17.3 million in the fourth quarter of 2015 and compared with USD12.1 million in the first quarter of 2015.

On a GAAP basis, the company reported net income of USD2.9 million, or USD0.11 per diluted share, in the first quarter of 2016. This is compared with net income of USD5.2 million, or USD0.19 per diluted share, in the fourth quarter of 2015. The company reported net income of USD3.0 million, or USD0.11 per diluted share, in the first quarter of 2015.

On a Non-GAAP basis, which excludes amortization of acquired intangible assets, adjustments of deferred tax assets net, stock-based compensation expenses and acquisition related expenses the company reported net income of USD4.5 million, or USD0.16 per diluted share, in the first quarter of 2016. This is compared with net income of USD5.3 million, or USD0.19 per diluted share, in the fourth quarter of 2015 and compared with net income of USD4.0 million, or USD0.15 per diluted share, in the first quarter of 2015.

Nova Measuring Instruments delivers continuous innovation by providing advanced metrology solutions for the semiconductor manufacturing industry. Deployed with the world´s largest integrated-circuit manufacturers, Nova´s products deliver state-of-the-art, high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle.