Nanometrics Reports Q4 EPS of $0.34 vs. $0.47

Nanometrics Incorporated NANO today announced financial results for its fiscal fourth quarter. Revenues were $46.1 million, declining 14% from $53.9 million in the third quarter of 2010 and up 75% from $26.3 million in the fourth quarter of 2009. Gross margin was 52.7%, compared to 54.5% in the third quarter and 50.7% in the year-ago period. Our operating margin was 18.8%, compared to 25.6% in the third quarter and 2.5% in the year-ago period. Net income was $26.1 million or $1.12 per share on a GAAP basis. As a result of our increased profitability in fiscal 2010 and expectations for continued profits going forward, our fourth quarter results include the favorable impact of the release of $18.2 million in income tax asset valuation allowances, equivalent to $0.78 per share. Earnings for the fourth quarter compare to net income of $12.3 million, or $0.53 per diluted share, in the third quarter of 2010 and a net loss of $0.3 million, or $0.01 per diluted share, in the fourth quarter of 2009.