Nova Measuring Instruments Q4 Adj. Profit Meets Estimates, But Revenues Top

(RTTNews) - Nova Measuring Instruments Ltd. (NVMI) said that its fourth-quarter of 2013 net income was $3.1 million, or $0.11 per share, up from $2.5 million, or $0.09 per share, in the fourth quarter of 2012.

On a Non-GAAP basis, which excludes adjustments of deferred taxes, stock based compensation expenses and loss related to equipment and inventory damage, the company reported net income of $4.1 million, or $0.15 per share, in the fourth quarter of 2013. This compared to a net income of $1.0 million, or $0.04 per share, in the fourth quarter of 2012.

Total revenues for the fourth quarter of 2013 were $30.2 million, an increase of 37% relative to the fourth quarter of 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share and revenues of $28.94 million. Analysts' estimates typically exclude special items.