Nova Measuring Instruments (NASDAQ: NVMI) reported Q2 EPS of $0.48, $0.04 better than the analyst estimate of $0.44. Revenue for the quarter came in at $62.6 million versus the consensus estimate of $62.3 million.

Second Quarter 2020 Highlights:

• Quarterly revenue of $62.6 million, meeting guidance of $58 million to $66 million
• GAAP net income of $8.7 million, or $0.30 per diluted share, meeting guidance of $0.29 to $0.43 per share
• Non-GAAP net income of $13.8 million, or $0.48 per diluted share, meeting guidance of $0.37 to $0.51 per share
• Balanced revenue mix with five major customers contributing over 10% each to the geographically diverse product revenue
• Record quarterly integrated metrology revenues, driven by growing demand for advanced integrated solutions across different technology nodes

"Our second quarter results met our expectations and Company guidance, highlighting our ability to successfully navigate through the dynamic global environment caused by the COVID-19 pandemic. The success of our decisive actions to secure our supply chain and production capabilities, while ensuring business continuity, is evident in our achievements this quarter. During the second quarter, we continued to execute well and achieved important milestones in our new product rollout plans with several leading customers," stated Eitan Oppenhaim, President and Chief Executive Officer. "Despite various market uncertainties, we remain focused on the Company's growth as we leverage the current steady demand for our products."

GUIDANCE:

Nova Measuring Instruments sees Q3 2020 EPS of $0.34-$0.47, versus the consensus of $0.41. Nova Measuring Instruments sees Q3 2020 revenue of $58-66 million, versus the consensus of $61.85 million.

Management provided an outlook for the third quarter, the period ending September 30, 2020. Based on current estimates, management expects:

• $58 million to $66 million in revenue
• $0.25 to $0.39 in diluted GAAP EPS
• $0.34 to $0.47 in diluted non-GAAP EPS

For earnings history and earnings-related data on Nova Measuring Instruments (NVMI) click here.