Advertisement
News
Advertisement

Nanometrics shares soar after 2Q results

Fri, 08/06/2010 - 10:28am
Manufacturing.net

Nanometrics Inc. shares soared Friday after the company's second-quarter results easily outstripped Wall Street forecasts.

The Milpitas, Calif., company, which provides semiconductor manufacturing equipment, reported earnings of $11.6 million, or 51 cents per share, after the market close Thursday.

That reversed a loss of $7 million, or 38 cents per share, in the same quarter a year ago.

The company's stock was up $1.94, or 20 percent, to $11.81 in afternoon trading.

On average, analysts surveyed by Thomson Reuters expected earnings of 27 cents per share.

Revenue more than tripled to $50.8 million as orders recovered from the recession. Analysts had predicted $39.3 million.

"Our operations team did a terrific job executing deliveries in response to widespread strength in customer demand," Nanometrics CEO Timothy J. Stultz said in a statement.

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading