In a sign that semiconductor firms are delaying equipment purchases, Nanometrics Inc., Milpitas, Calif., said today that a large Korean chip company rescheduled an order this quarter, which will result in a revenue shortfall at the equipment firm.
Nanometrics' previous guidance was for fourth quarter revenues to increase by 8 to 10% over third quarter revenues of $20.7 million. The Company now expects fourth quarter revenues of approximately $20 million.
"Nanometrics attributes the revenue shortfall to shipment rescheduling by a large customer in Korea late in the quarter that resulted in a mismatch of available material," the company said in a prepared statement, without identifying the customer.
"Our business this year has clearly benefited from semiconductor capital spending but recent customer uncertainty warrants a cautious approach to quarterly shipments in the near term. However, we remain confident in our long term strategy and outlook for the industry. We expect growth to resume once the uncertainty in the global economy subsides," said John D. Heaton, president and chief executive officer of Nanometrics.
Nanometrics is a supplier of automated metrology equipment used in integrated circuit, flat panel display and magnetic head manufacturing.