Nanometrics Inc. (Milpitas, CA), which supplies integrated and standalone metrology equipment used for advanced IC, flat panel display and magnetic head manufacturing, has reported $10.1 million of total net revenues for the third quarter of 2001 ended September 30 – slightly better than the company's previous guidance, a decrease of 48% from the third quarter of 2000. The decrease in sales during the third quarter of 2001 resulted from weaker demand for semiconductor process control metrology equipment, particularly in the U.S. and Pacific Rim countries. The net loss in the third quarter of 2001 was $450,000 or $0.04 per diluted share compared to a net income of $4,024,000 or $0.33 per diluted share for the same period last year.
For the nine months ended September 30, 2001, Nanometrics' net revenues decreased 25% to $39.3 million compared to revenues of $52.3 million for the same period in 2000. Net income for the first nine months of 2001 was $2,710,000, or $0.22 per diluted share, compared to a net income of $7,875,000 or $0.67 per diluted share for the same period in 2000. The company's financial position continues to be strong with cash and short-term investments totaling $56.3 million and working capital of $83.8 million.
