A Close Collaboration with a Leading Asian Memory Manufacturer Led To a First Time Order
REHOVOT, Israel, August 13, 2013 /PRNewswire/ --
Nova Measuring Instruments Ltd. (NASDAQ: NVMI) provider of leading edge stand-alone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, announced today that a leading Asian memory manufacturer placed a first time order for Nova's Optical CD metrology solution. The order was placed following last year's announcement of the Nova T600 standalone delivery, for the development and collaboration of the next generation of advanced NAND technology.
This major manufacturer joins Nova's customer base, that already includes the leading memory manufacturers in Asia.
The order for the Optical CD metrology solution was received following an intensive year of close collaboration with the customer's R&D center, for the development of its next generation memory technology. The solution is designed to support the memory manufacturer in its development of the next generation cutting edge technology for the 1Xnm technology nodes. Nova's suite of modeling capabilities enables the creation of a metrology solution for the customer's complex 3D memory structures.
"With this first time order with a new customer, we are proud to become a supplier to this leading edge memory manufacturer," said Eitan Oppenhaim, Nova's President & CEO. "This significant step is a result of Nova's successful strategy to engage with customers' R&D centers early in the development stages. We are committed to continuing our efforts to broaden our collaboration with this important customer and further expand our mutual success."
About Nova: Nova Measuring Instruments Ltd. develops, produces and markets advanced integrated and stand alone metrology solutions for the semiconductor manufacturing industry. Nova is traded on the NASDAQ & TASE under the symbol NVMI. The Company's website is: http://www.novameasuring.com
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in
those forward looking statements. These risks and other factors include but are not limited to: our dependency on two product lines; the highly cyclical nature of the markets we target; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on PEM; risks related to exclusivity obligations and non-limited liability that may be included in our commercial agreements and arrangements; cyber security risks; risks related to open source technologies; our ability to retain our competitive position despite the ongoing consolidation in our industry; risks related to our dependence on a single manufacturing facility; risks related to our lease agreements; our ability to expand our manufacturing capacity or marketing efforts to support our future growth; risks related to quarterly fluctuations in our operating results; risks related to the extremely competitive market we are operation in; our dependency on a small number of large customers and small number of suppliers; our dependency on our key employees; risks related to changes in our order backlog; risks related to the financial, political and environmental instabilities in Asia; risks related to our intellectual property; changes in customer demands for our products; new product offerings from our competitors; changes in or an inability to execute our business strategy; unanticipated manufacturing or supply problems; changes in tax requirements; changes in customer demand for our products; risks related to currency fluctuations and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2012 filed with the Securities and Exchange Commission on March 11, 2013. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
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SOURCE Nova Measuring Instruments Ltd