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NANOMETRICS INCORPORATED
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
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(In thousands except per share amounts)
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| (Unaudited) | |||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||
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June 25,
2016 |
June 27,
2015 |
June 25,
2016 |
June 27,
2015 | ||||||||||||||
| Net revenues: | |||||||||||||||||
| Products | $ | 47,445 | $ | 38,937 | $ | 86,659 | $ | 77,275 | |||||||||
| Service | 8,322 | 9,692 | 16,597 | 21,730 | |||||||||||||
| Total net revenues | 55,767 | 48,629 | 103,256 | 99,005 | |||||||||||||
| Costs of net revenues: | |||||||||||||||||
| Cost of products | 21,736 | 19,872 | 39,815 | 39,863 | |||||||||||||
| Cost of service | 5,164 | 5,036 | 9,648 | 11,410 | |||||||||||||
| Amortization of intangible assets | 442 | 457 | 877 | 1,089 | |||||||||||||
| Total costs of net revenues | 27,342 | 25,365 | 50,340 | 52,362 | |||||||||||||
| Gross profit | 28,425 | 23,264 | 52,916 | 46,643 | |||||||||||||
| Operating expenses: | |||||||||||||||||
| Research and development | 7,511 | 8,157 | 15,579 | 16,316 | |||||||||||||
| Selling | 7,823 | 7,029 | 15,072 | 14,145 | |||||||||||||
| General and administrative | 5,755 | 5,544 | 11,175 | 11,310 | |||||||||||||
| Amortization of intangible assets | - | 25 | 24 | 64 | |||||||||||||
| Restructuring | - | - | - | 58 | |||||||||||||
| Total operating expenses | 21,089 | 20,755 | 41,850 | 41,893 | |||||||||||||
| Income from operations | 7,336 | 2,509 | 11,066 | 4,750 | |||||||||||||
| Other income (expense): | |||||||||||||||||
| Interest income | 12 | 46 | 21 | 56 | |||||||||||||
| Interest expense | (67 | ) | (83 | ) | (184 | ) | (165 | ) | |||||||||
| Other income, net | (394 | ) | (311 | ) | (169 | ) | 393 | ||||||||||
| Total other income (expense), net | (449 | ) | (348 | ) | (332 | ) | 284 | ||||||||||
| Income before income taxes | 6,887 | 2,161 | 10,734 | 5,034 | |||||||||||||
| Provision for income taxes | 856 | 817 | 1,236 | 1,134 | |||||||||||||
| Net income | $ | 6,031 | $ | 1,344 | $ | 9,498 | $ | 3,900 | |||||||||
| Net income per share: | |||||||||||||||||
| Basic | $ | 0.25 | $ | 0.06 | $ | 0.39 | $ | 0.16 | |||||||||
| Diluted | $ | 0.24 | $ | 0.06 | $ | 0.38 | $ | 0.16 | |||||||||
| Shares used in per share calculation: | |||||||||||||||||
| Basic | 24,524 | 24,020 | 24,416 | 23,943 | |||||||||||||
| Diluted | 24,927 | 24,285 | 24,773 | 24,260 | |||||||||||||
Nanometrics Reports Second Quarter 2016 Financial Results
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