Nova Increases Second Quarter Revenue Guidance to $37-$39 Million

REHOVOT, Israel, June 3, 2015 /PRNewswire/ --

Nova Measuring Instruments Ltd. (NASDAQ: NVMI), a leading innovator and a key provider of metrology solutions for advanced process control used in semiconductor manufacturing, today increased its outlook for the second quarter of 2015, with adjusted quarterly revenue guidance of $37-$39 million, compared to previously guided numbers of $33-$35 million. Based on the adjusted revenue estimates, management now expects GAAP EPS to be in the range of $0.00 to $0.04, and Non GAAP EPS to be in the range of $0.14 to $0.18.

"We are excited to see that following the acquisition of ReVera, we are experiencing better than expected revenue for the second quarter," commented Eitan Oppenhaim, President and CEO of Nova. "Our efforts to further strengthen our position in the most advanced nodes appear to be successful with growing orders for advanced 10/16 FinFET nodes. In fact, the new quarterly guidance reflects more than $14 million in aggregate revenues from our largest foundry customer. This guidance indicates record revenue quarter for Nova, and puts us on track for a third consecutive record-high revenue year in 2015."

2015 Analyst Day in New York City 

Management will discuss the adjusted guidance during its analyst day on Tuesday, June 9 from 9 a.m. to noon at the Le Parker Meridien in New York City. The senior leadership team will also address the company's strategic direction and the recent acquisition of ReVera, as well as Nova's unique product offerings and significant market opportunities.

RSVP is required. Please email [email protected] if you are interested in attending.

About Nova: Nova Measuring Instrument Ltd. delivers continuous innovation by providing advanced metrology solutions for the semiconductor manufacturing industry. Deployed with the world's largest integrated-circuit manufacturers, Nova's products deliver state-of-the-art, high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, supports the development and production of the most advanced devices in today's high-end semiconductor market. Nova's technical innovation and market leadership enable customers to improve process performance, enhance products' yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at 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, but are not limited to, anticipated benefits, growth opportunities and other events relating to the acquisition, projections about our business and its future revenues, expenses 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: the ability to recognize benefits of the acquisition; risks that the acquisition disrupts current plans and operations; and impact of the acquisition on relationships with customers, distributors and suppliers. Factors that may affect our results, performance, circumstances or achievements also include, but are not limited to, the following: our dependency on a small number of large customers and small number of suppliers; the highly cyclical and competitive 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 manufacturing facilities; 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, 2014 filed with the Securities and Exchange Commission on February 25, 2015. 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.  

Company Contact:
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
Tel: +972-73-229-5760
E-mail: [email protected]

http://www.novameasuring.com

Investor Relations Contacts:
Hayden/ MS-IR LLC
Miri Segal
Tel: +917-607-8654
E-mail: [email protected]

Or

Brett Maas
Tel: +646-536-7331
E-mail: [email protected]

SOURCE Nova Measuring Instruments Ltd.