Nova Measuring Instruments (NASDAQ: NVMI) reported Q3 EPS of $0.57, $0.10 better than the analyst estimate of $0.47. Revenue for the quarter came in at $69.5 million versus the consensus estimate of $65.42 million.

Business Highlights:

• Record quarterly revenue of $69.5 million, up 32% year-over-year
• GAAP net income of $13.9 million, or $0.48 per diluted share, up 60% year-over-year on a per-share basis
• Non-GAAP net income of $16.5 million, or $0.57 per diluted share, up 43% year-over-year on a per-share basis
• Record quarterly optical standalone revenues, driven by growing demand for Nova's unique dimensional metrology solutions
• In October, completed a private offering of $200 million of 0% convertible senior notes due 2025

"Nova's outstanding financial results for the quarter exceeded our previous expectations and guidance. These results demonstrate the resilience of our operational model and the strategic value we bring to our customers while they continue developing their next generation technology nodes," commented Eitan Oppenhaim, President and Chief Executive Officer. "Following our strong operational execution in 2020, we remain confident in our strategy and the value we create, which provide us a solid base to deliver our long-term growth objectives."

GUIDANCE:

Nova Measuring Instruments sees Q4 2020 EPS of $0.45-$0.56, versus the consensus of $0.47.

Management provided an outlook for the fourth quarter, the period ending December 31, 2020. Based on current estimates, management expects:

• $66 million to $73 million in revenue
• $0.32 to $0.43 in diluted GAAP EPS
• $0.45 to $0.56 in diluted non-GAAP EPS

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