-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QihrS3rXEFyk7cESbtptxYggv6KZ+82xzhF9ieUB3yW1FI6Ilnjy9O4lCv2IMftg oC782+S5AubSevOhyCv2Zw== 0000950005-04-000209.txt : 20040219 0000950005-04-000209.hdr.sgml : 20040219 20040219103958 ACCESSION NUMBER: 0000950005-04-000209 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040219 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NANOMETRICS INC CENTRAL INDEX KEY: 0000704532 STANDARD INDUSTRIAL CLASSIFICATION: MEASURING & CONTROLLING DEVICES, NEC [3829] IRS NUMBER: 942276314 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13470 FILM NUMBER: 04614836 BUSINESS ADDRESS: STREET 1: 1550 BUCKEYE DRIVE CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 408-435-9600 MAIL ADDRESS: STREET 1: 1550 BUCKEYE DRIVE CITY: MILPITAS STATE: CA ZIP: 95035 8-K 1 p18212_8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): FEBRUARY 19, 2004 ------------------------ NANOMETRICS INCORPORATED ------------------------ (Exact name of registrant as specified in its charter) California 0-13470 94-2276314 - ---------------------------- ---------------- ------------------ (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 1550 Buckeye Drive, Milpitas, California 95035 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (408) 435-9600 N/a - ----------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits (c) Exhibits 99.1 Press Release, dated February 19, 2004, announcing registrant's fourth quarter financial results. Item 9. Regulation FD Disclosure The information under this Item 9 is also being furnished pursuant Item 12 of Form 8-K. On February 19, 2004, the registrant issued an earnings release, the text of which is set forth in Exhibit 99.1 attached hereto and is being furnished pursuant to Item 12 of this Form 8-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NANOMETRICS INCORPORATED /s/ Paul B. Nolan ----------------- Paul B. Nolan Chief Financial Officer February 19, 2004 EXHIBIT INDEX Exhibit No. Description - ---------- ----------- 99.1 Press Release, dated February 19, 2004, announcing registrant's fourth quarter financial results. EX-99.1 3 p18212_99-1.txt PRESS RELEASE FOR RELEASE ON FEBRUARY 19, 2004 Contact: Paul Nolan, CFO Nanometrics, Inc. 408.435.9600 x122 NANOMETRICS ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR END 2003 Milpitas, California, February 19, 2004 - Nanometrics Incorporated (NASDAQ: NANO) today reported financial results for the fourth quarter and year ended December 31, 2003. Total revenues for the fourth quarter of 2003 were $12.4 million, an increase of 22% compared to the third quarter of 2003 and an increase of 27% compared to the fourth quarter of 2002. The increase in fourth quarter sales in 2003 resulted from stronger demand for semiconductor process control metrology equipment primarily in the Pacific Rim countries. The net loss in the fourth quarter of 2003 was $804,000 or $0.07 per diluted share compared to a net loss of $3.2 million or $0.27 per diluted share for the same period last year. For the year ended December 31, 2003, Nanometrics' revenues increased 20% to $41.6 million compared to revenues of $34.7 million in 2002. The net loss for the year ended December 31, 2003 was $17.5 million or a loss of $1.45 per diluted share, compared to a net loss of $8.3 million or a loss of $0.70 per diluted share in 2002. The net loss in 2003 includes a $6.0 million charge to record a valuation allowance against deferred income tax assets, as previously reported in the first quarter of 2003. The Company's financial position continues to be strong with cash and equivalents and short-term investments of $29.9 million and working capital of $59.2 million. About Nanometrics: Nanometrics Incorporated is a leading supplier of automated metrology equipment used for advanced integrated circuit, flat panel display and magnetic head manufacturing. The Company's corporate office is located at 1550 Buckeye Drive, Milpitas, CA 95035, with sales and service offices worldwide. Nanometrics is traded on the NASDAQ National Market under the symbol NANO. Nanometrics' website is http://www.nanometrics.com. NANOMETRICS INCORPORATED CONSOLIDATED BALANCE SHEETS (Amounts in thousands except share amounts) (Unaudited)
December 31, December 31, 2003 2002 -------- --------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 7,949 $ 7,967 Short-term investments 21,943 28,899 Accounts receivable, net of allowances of $583 and $566 14,522 9,021 Inventories 24,264 25,847 Deferred income taxes -- 6,840 Prepaid expenses and other 644 2,803 -------- --------- Total current assets 69,322 81,377 PROPERTY, PLANT AND EQUIPMENT, Net 49,738 50,050 INTANGIBLE ASSETS 1,322 1,748 OTHER ASSETS 1,358 1,513 -------- --------- TOTAL $121,740 $ 134,688 ======== ========= LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,045 $ 1,708 Accrued payroll and related expenses 1,593 1,004 Deferred revenue 2,345 1,396 Other current liabilities 1,436 1,574 Income taxes payable 1,528 139 Current portion of debt obligations 1,157 780 -------- --------- Total current liabilities 10,104 6,601 DEFERRED INCOME TAXES 437 858 DEBT OBLIGATIONS 2,756 3,123 -------- --------- Total liabilities 13,297 10,582 -------- --------- SHAREHOLDERS' EQUITY: Common stock, no par value; 50,000,000 shares authorized; 12,165,016 and 12,006,641 outstanding 101,099 99,911 Retained earnings 7,009 24,475 Accumulated other comprehensive loss 335 (280) -------- --------- Total shareholders' equity 108,443 124,106 -------- --------- TOTAL $121,740 $ 134,688 ======== =========
NANOMETRICS INCORPORATED CONSOLIDATED STATEMENTS OF INCOME (Amounts in thousands, except per share amounts) (Unaudited)
Three Months Ended Year Ended December 31, December 31, 2003 2002 2003 2002 -------- -------- -------- -------- NET REVENUES: Product sales $ 10,778 $ 8,035 $ 34,592 $ 28,669 Service 1,609 1,702 7,010 6,054 -------- -------- -------- -------- Total net revenues 12,387 9,737 41,602 34,723 -------- -------- -------- -------- COSTS AND EXPENSES: Cost of product sales 4,665 4,353 17,691 13,237 Cost of service 1,702 1,388 6,620 5,765 Research and development 3,200 3,638 13,399 13,765 Selling 3,031 3,226 11,496 10,862 General and administrative 1,225 1,592 4,689 5,104 Goodwill impairment -- 1,077 -- 1,077 -------- -------- -------- -------- Total costs and expenses 13,823 15,274 53,895 49,810 -------- -------- -------- -------- LOSS FROM OPERATIONS (1,436) (5,537) (12,293) (15,087) OTHER INCOME (EXPENSE) Interest income 167 150 397 583 Interest expense (25) (22) (96) (94) Other, net 209 43 385 100 -------- -------- -------- -------- Total other income, net 351 171 686 589 -------- -------- -------- -------- LOSS BEFORE PROVISION (BENEFIT) FOR INCOME TAXES (1,085) (5,366) (11,607) (14,498) PROVISION (BENEFIT) FOR INCOME TAXES (281) (2,163) 5,860 (6,230) -------- -------- -------- -------- NET LOSS $ (804) $ (3,203) $(17,467) $ (8,268) ======== ======== ======== ======== NET LOSS PER SHARE: Basic $ (0.07) $ (0.27) $ (1.45) $ (0.70) ======== ======== ======== ======== Diluted $ (0.07) $ (0.27) $ (1.45) $ (0.70) ======== ======== ======== ======== SHARES USED IN PER SHARE COMPUTATION: Basic 12,122 11,998 12,043 11,878 ======== ======== ======== ======== Diluted 12,122 11,998 12,043 11,878 ======== ======== ======== ========
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