Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) today published its financial report for the second quarter of 2009. The developer of metrology solutions to the semiconductor process control market broke even in non-GAAP terms, after four quarters of losses, although it still posted a GAAP-based net loss.
Nova posted $7 million revenue for the second quarter compared with $11.1 million for the corresponding quarter of 2008, but 22% more than the $5.7 million revenue for the preceding quarter.
GAAP-based net loss was $94,000 compared with a net loss of $1.3 million for the corresponding quarter. The company broke even on a non-GAAP basis, after posting a non-GAAP net loss of $500,000 for the corresponding quarter.
The company did not provide guidance for the third quarter, but Nova president and CEO Gabi Seligsohn said, "Recent increase in business volumes and improved order patterns will enable us to show significant improvement in our financial performance in the second half of the year."
Nova's share closed at $1.37 on Nasdaq yesterday. The share fell 0.6% on the TASE today to NIS 5.05.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2009
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