Nova Measuring Instruments Ltd. reported consolidated earnings results for first quarter ended March 31, 2013. For the period, the company reported revenues were increased 24% to $27,425,000 compared to $22,602,000 in the same period last year. Operating profit was $2,924,000 compared to $3,274,000 in the same period last year. Income before income taxes was $3,054,000 compared to $3,683,000 in the same period last year. Net income for the period was $2,395,000 compared to $2,737,000 in the same period last year. Earnings per share basic and diluted were $0.09 compared to $0.10 in the same period last year. Net cash provided by operating activities was $2,809,000 compared to $66,000 in the same period last year. Non-GAAP net income for the period was $3,589,000 or $0.13 basic and diluted per share compared to $4,067,000 or $0.15 basic and diluted per share in the same period last year. Additions to fixed assets were $342,000 against $573,000 a year ago. For the second quarter of 2013, the company expects revenues of $26 million to $28.5 million with GAAP diluted earnings per share of $0.03 to $0.07. On a non-GAAP basis, which excludes adjustments of deferred income tax assets and stock-based compensation expenses, the company expects diluted earnings per share of $0.06 to $0.11 for the second quarter of 2013. For the year, the company expects to continue to see fluctuations in gross margins based on these parameters. Specifically in the second quarter of 2013, the company expects to see a modest sequential reduction in gross margin due to a higher proportion of new products in the mix. Over time the company continues to believe that gross margin will stay in the 52% to 55% range.

Nova Measuring Instruments Ltd. announced that they will report Q1, 2013 results at 5:00 PM, Israel Standard Time on Apr 30, 2013

Nova Measuring Instruments Ltd., Q1 2013 Earnings Call, Apr 30, 2013