Nova Reports Record Results for First Quarter 2017

REHOVOT, Israel, May 9, 2017 --

Nova (Nasdaq: NVMI), a leading innovator and a key provider of metrology solutions for advanced process control used in semiconductor manufacturing, today reported record financial results for the first quarter 2017, the period ended March 31, 2017.

First Quarter 2017 Highlights:

  • Record quarterly revenue of $54.4 million, up 8% sequentially and 60% year-over-year, above guidance of $50 to $54 million
  • GAAP net income of $13.4 million, or $0.48 per diluted share, up 60% sequentially and 336% year-over-year on a per-share basis, exceeding guidance of $0.31 to $0.39 per share
  • Non-GAAP net income of $14.1 million, or $0.50 per diluted share, up 19% sequentially and 212% year-over-year on a per-share basis, exceeding guidance of $0.37 to $0.45 per share
  • Record quarterly revenue from Integrated Metrology solutions
  • Record quarterly bookings from 3D-NAND

Management Comments

"Nova continued to perform well this quarter, setting new business and financial records that demonstrate our growing competitive strength across the market segments we serve," commented Eitan Oppenhaim, President and Chief Executive Officer of Nova. "Growing demand for our unique value proposition, which is becoming a key enabler for our customers' transition to the most advanced products, enabled us to achieve these outstanding milestones. Nova's solid start for the year, along with the second quarter guidance, supports our outlook for another strong year, in which we continue to effectively execute the Company's growth plans and expand our position within leading edge customers."