Nanometrics Cuts Jobs, Posts Loss
written by Mark LaPedus, courtesy of EE Times SAN JOSE, Calif. -- Amid a big loss, metrology tool provider Nanometrics Inc. disclosed that it has cut 3 percent of its headcount in the second quarter. In January, Nanometrics reduced its headcount by approximately 7 percent. The company this week also said revenues for the second quarter were $23.8 million, representing a 32 percent decrease from first quarter 2008 revenues of $34.7 million and a 36 percent decrease from second quarter 2007 revenues of $37.3 million. Net loss for the second quarter was $18.9 million, or minus $1.02 per share. This compares to a net loss of $0.7 million, or minus $0.04 per share, for the first quarter of 2008 and a net loss of $0.1 million, or minus $0.01 per share, for the second quarter of 2007. The second quarter net loss includes non-cash expenses of $16.6 million. Operating expenses include $0.3 million in severance charges related to a 3 percent workforce reduction during the second quarter. Tim Stultz, president and chief executive, painted a mixed picture. ''We took an impairment charge in the second quarter that will reduce our amortization of acquired intangible assets expense by approximately $700,000 per quarter,'' he said in a statement. ''We recently completed a $13.5 million real estate loan transaction on our Milpitas headquarters that will improve our cash position. Going forward we will continue to aggressively seek ways to improve both our operational and capital efficiencies.'' |
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