Business
Nova Reports Record Third Quarter 2021 Results
REHOVOT, Israel, Nov. 4, 2021 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced record financial results for the third quarter of 2021, the period ended
About this update from Nova Ltd.
[{"type":"text","content":"REHOVOT, Israel, Nov. 4, 2021 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced record financial results for the third quarter of 2021, the period ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nThird Quarter 2021 Highlights:\nRecord quarterly revenue of $112.7 million, up 62% year over year Record GAAP net income of $30.3 million, or $1.02 per diluted share, up 113% year over year on a per-share basis Record non-GAAP net income of $34.5 million, or $1.16 per diluted share, up 104% year over year on a per-share basis Record materials metrology revenue driven by expanded product portfolio and new logic penetration Continuous adoption of the NovaPRISM® standalone platform across segments and customers GAAP Results ($K)\nQ3 2021\nQ2 2021\nQ3 2020\nRevenues\n$112,713\n$97,746\n$69,485\nNet Income\n$30,335\n$22,924\n$13,869\nEarnings per Diluted Share\n$1.02\n$0.77\n$0.48\nNON-GAAP Results ($K)\nQ3 2021\nQ2 2021\nQ3 2020\nNet Income\n$34,546\n$26,886\n$16,511\nEarnings per Diluted Share\n$1.16\n$0.90\n$0.57\nA reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements that are part of this release. See also \"Use of Non-GAAP Adjusted Financial Measures\" section. \nManagement Comments\n\"We remain confident in our strategy and the long-term value we create for our customers as they move towards production of next-generation devices across all technologies and segments. With the global surge in demand and the commensurate challenges to production capacity, our technology value continues to resonate strongly with a wide range of customers. This was demonstrated in the third quarter by several selection wins and by the successful proliferation of our industry-leading technologies,\" commented Eitan Oppenhaim, President and Chief Executive Officer. \"The increasing demand for our innovative portfolio along with the current market demand, paves us the way to another outperformance year in 2021 and builds a solid momentum towards 2022.\"\n2021 Fourth Quarter Financial Outlook\nManagement provided an outlook for the fourth quarter, the period ending December 31, 2021. Based on current estimates, management expects:\n$113 million to $123 million in revenue $0.78 to $0.96 in diluted GAAP EPS $0.94 to $1.12 in diluted non-GAAP EPS2021 Third Quarter Results\nTotal revenues f...