Business
Nova Reports Fourth Quarter and Full Year 2022 Results
REHOVOT, Israel, Feb. 15, 2023 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced financial results for the fourth quarter and full year ended December 31,
About this update from Nova Ltd.
[{"type":"text","content":"REHOVOT, Israel, Feb. 15, 2023 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced financial results for the fourth quarter and full year ended December 31, 2022.\nFourth Quarter 2022 Highlights:\nRecord quarterly revenue of $151.2 million, up 24% year over yearGAAP net income of $36.1 million, or $1.14 per diluted share, up 56% year over year on a per-share basisNon-GAAP net income of $40.8 million, or $1.28 per diluted share, up 19% year over year on a per-share basisRecord revenues from Chemical Metrology solutions, driven by multiple penetrations to leading front-end customersContinued proliferation of our most advanced product portfolio, led by major penetrations of METRION and ELIPSON to leading logic customersFull Year 2022 Highlights:\nRecord annual revenue of $570.7 million, up 37% year over yearRecord GAAP net income of $140.2 million, or $4.40 per diluted share, up 41% year over year on a per-share basisRecord Non-GAAP net income of $161.5 million, or $5.07 per diluted share, up 32% year over year on a per-share basisGAAP Results ($K)\nQ4 2022\nQ3 2022\nQ4 2021\nFY 2022\nFY 2021\nRevenues\n$151,238\n$143,906\n$121,521\n$570,729\n$416,113\nNet Income\n$36,098\n$35,075\n$22,226\n$140,213\n$93,101\nEarnings per Diluted Share\n$1.14\n$1.10\n$0.73\n$4.38\n$3.12\n Non-GAAP Results ($K)\nQ4 2022\nQ3 2022\nQ4 2021\nFY 2022\nFY 2021\nNet Income\n$40,778\n$ 39,698\n$32,752\n$161,509\n$114,669\nEarnings per Diluted Share\n$1.28\n$1.24\n$1.08\n$5.07\n$3.85\nA reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. See also \"Use of Non-GAAP Adjusted Financial Measures\" section.\n Management Comments\n\"The fourth quarter was a strong resolution to another record-breaking year for Nova, characterized by notable annual increase in revenue and profitability. Despite the volatility in the markets, the company was able to perform well during the fourth quarter, highlighting the strength of our diversified and agile business model,\" said Eitan Oppenhaim, President and CEO. \"While we remain vigilant in addressing the current challenges, we continue to implement our long-term strategic plans to solidify our position and seize various opportunities, particularly in this dynamic environment.\" \n2023 First Quarter Financial Outlook\nManagement ...