Nova Measuring Instruments (NVMI) Tops Q4 EPS by 5c, Revenues Beat; Provides Q1 EPS/Revenue Mid-Point Guidance Below Consensus

Nova Measuring Instruments (NASDAQ: NVMI) reported Q4 EPS of $0.51, $0.05 better than the analyst estimate of $0.46. Revenue for the quarter came in at $64.6 million versus the consensus estimate of $59.82 million.

Fourth Quarter 2019 Highlights:

• Quarterly revenue of $64.6 million, exceeding guidance of $56 million to $62 million.
• GAAP net income of $12.4 million, or $0.43 per diluted share, exceeding guidance of $0.32 to $0.42 per share.
• Non-GAAP net income of $14.6 million, or $0.51 per diluted share, exceeding guidance of $0.40 to $0.50 per share.
• Accelerated deliveries to leading edge Foundry to support its most advanced technology nodes.
• Received initial orders for the new Dimensional Stand-Alone Platform, the NovaPRISM™.

"Nova reported strong results for the fourth quarter, demonstrating the meaningful value our differentiated portfolio brings to our customers. Our sound performance drove revenue and profitability to exceed the company's guidance and propelled our quarterly revenue to a new record high," commented Eitan Oppenhaim, President and Chief Executive Officer. "This was an excellent conclusion to a volatile year during which we continued to strengthen our position and expand our unique portfolio to support our long-term growth. As we enter a new calendar year, we are excited by multiple opportunities associated with the technology enhancements our customers implement. Following our major investment in new products' development, we believe that Nova is well positioned to capitalize on these opportunities in 2020."

GUIDANCE:

Nova Measuring Instruments sees Q1 2020 EPS of $0.26-$0.42, versus the consensus of $0.41. Nova Measuring Instruments sees Q1 2020 revenue of $50-60 million, versus the consensus of $59.7 million.

Management provided an outlook for the first quarter, the period ending March 31, 2020. Based on current estimates, management expects:

• $50 million to $60 million in revenue
• $0.18 to $0.34 in diluted GAAP EPS
• $0.26 to $0.42 in diluted non-GAAP EPS

For earnings history and earnings-related data on Nova Measuring Instruments (NVMI) click here.

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