Nova Q3 Profit Falls, Yet Beats Estimates

(RTTNews) - Nova Ltd. (NVMI) Thursday reported a decline in third-quarter profit as revenues were down from the previous year.

The quarterly earnings for the process control systems manufacturer were $33.69 million, down from $35.08 million in the prior year. On a per-share basis, earnings declined to $1.05 from $1.10 last year. On an adjusted basis, earnings were $1.23 per share.

On average, 5 analysts polled by Thomson Reuters expected the company to earn $1.09 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter fell to $128.81 million from $143.91 million a year ago. Wall Street estimates were $123.1 million.

Looking ahead to the fourth quarter, the company expects earnings in a range of $0.96 to $1.11 per share and on an adjusted basis, in a range of $1.16 to $1.31 per share.

Revenue for the next quarter is expected to be in the range of $123 to $132 million.

Analysts are looking for $1.09 per share, on revenue of $127.29 million.

In the pre-market, shares are currently at $104.00, up 2.37 percent from the previous close of $99.91 on a volume of 157,159.