REHOVOT, Israel, April 8, 2014 /PRNewswire/ -- Nova Measuring Instruments Ltd. (NASDAQ: NVMI), a leading innovator and a key provider of optical metrology solutions for advanced process control used in semiconductor manufacturing, announced today that multiple leading edge customers have placed multimillion orders for its newly introduced software solutions. The orders include Nova's Hybrid Metrology and Fleet Management software solutions for high volume production at the most advanced 2X and 1X technology nodes.
Nova's Hybrid Metrology solution is part of Nova's holistic approach to utilize multiple sources of information to enhance the overall metrology performance for better process control. The Hybrid Metrology solution combines data from a range of metrology tools with Nova's own metrology measurements to provide improved performance.
Nova's Fleet Management software is Nova's advanced solution for managing large fleets of metrology tools. It is designed to address the needs of metrology and process engineers in the fab, enabling high productivity and efficiency across a large fleet of metrology tools.
Both solutions were qualified following intensive technical evaluations during the last few months with leading customers and in multiple sites.
"We are very excited to receive these initial orders for our new advanced software solutions," said Eitan Oppenhaim, President and CEO of Nova. "These orders are clear evidence that our strategic decision to invest in these proprietary software solutions, which are based on our leading edge modeling engines, was the right one in order to enhance the metrology performance required in the most advanced technology nodes. We expect additional orders of our software solutions from these and other customers throughout the year. Our leadership in the Hybrid Metrology, which we have demonstrated in concept over the past several years in multiple publications and technical papers, can now been seen in our leading edge customers' sites, with active deployments underway to support their complex challenges and high volume production efforts."
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: 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; our dependency on a small number of large customers and small number of suppliers; 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; 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 the extremely competitive market we are operation in; 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; new product offerings from our competitors; 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, 2013 filed with the Securities and Exchange Commission on February 28, 2014. 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.
Investor Relations Contacts:
Hayden/ MS-IR LLC
SOURCE Nova Measuring Instruments Ltd.