Nova Measuring Instruments ( (NVMI) ) has released its Q3 earnings. Here is a breakdown of the information Nova Measuring Instruments presented to its investors.
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Nova Measuring Instruments, a leader in metrology solutions for semiconductor manufacturing, reported record financial results for the third quarter of 2024. The company specializes in providing high-precision hardware and software solutions that enhance semiconductor manufacturing processes.
In its latest earnings report, Nova announced record quarterly revenue of $179 million, representing a 14% increase from the previous quarter and a 39% increase year-over-year. The company also reported record net income, surpassing its own guidance, with a GAAP net income of $51.3 million and a non-GAAP net income of $56.1 million.
Key performance highlights include strong demand for Nova’s materials metrology and advanced packaging solutions. The company’s optical CD solutions also experienced robust growth, driven by increasing demand for advanced nodes. Operating expenses rose to $52.1 million, reflecting investments in research and development, as well as sales and marketing.
Looking ahead, Nova’s management remains optimistic, projecting continued growth in the fourth quarter of 2024 with expected revenues between $181 million and $191 million. The company aims to outperform the WFE Index, indicating a positive outlook for the remainder of the year.
