Nanometrics Shares Fall 4% After Hours (NANO)

Nanometrics Incorporated NANO released financial results on Tuesday after the market closed, which sent the company's shares falling. Nanometrics Incorporated announced that its 3rd quarter net income rose to $12.3 million, or 53 cents per share, up from $1.6 million, or 8 cents per share, a year earlier. Revenues jumped 109% to $53.9 million, up from $25.8 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 55 cents per share, on revenue of $53.71 million. President and chief executive officer Dr. Timothy J. Stultz said, “Our results demonstrate another strong quarter for Nanometrics, with continued record levels of revenues and operating profitability. Our operations team once again executed superbly in response to strong customer demand, and our financial performance continues to track well with industry leaders and the stated targets we set out for our company." Nanometrics Incorporated (NANO) finished the trading day at $13.59 per share, then fell 4.1% to $13.59 during after hours trading. The consensus price target of analysts covering the company's stock is $17.38 per share. Read more from Benzinga's Company news.