Nova Measuring Instruments (NASDAQ: NVMI) reported Q1 EPS of $0.70, $0.08 better than the analyst estimate of $0.62. Revenue for the quarter came in at $84.1 million versus the consensus estimate of $79.86 million.

First Quarter 2021 Highlights:

• Record quarterly revenue of $84.1 million, up 38% year over year
• Record GAAP net income of $17.6 million, or $0.60 per diluted share, up 46% year over year on a per-share basis
• Record Non-GAAP net income of $20.5 million, or $0.70 per diluted share, up 37% year over year on a per-share basis
• Record service revenue, led by installed base functionality expansions and productivity upgrades
• Record product bookings driven by continued diversification across geographies, fabrication technologies and customers

Management Comments

"Nova delivered a strong growth quarter, outperforming our guidance and achieving revenue and profit records. Our remarkable results were driven by the proliferation of our advanced solutions across customers, segments and technology nodes," commented Eitan Oppenhaim, President and Chief Executive Officer. "Our differentiated portfolio, honed by our commitment to innovation, continues to strengthen our market position as we address increasingly complex technical transitions to new generations of semiconductors. The achievements this quarter mark another successful milestone in our growth trajectory for this year, as we expand our market presence and deploy our new leading-edge technologies."

GUIDANCE:

Nova Measuring Instruments sees Q2 2021 EPS of $0.64-$0.77, versus the consensus of $0.64. Nova Measuring Instruments sees Q2 2021 revenue of $84-92 million, versus the consensus of $91.38 million.

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