MILPITAS, Calif.--Metrology supplier Nanometrics Inc. today warned investors that it now expects to post a 35% sequential drop in revenues for the third quarter compared to $14.8 million in Q2.
The Milpitas company blamed its revenue shortfall on over capacity in semiconductor production fabs and economically weak conditions in Japan and the United States.
"The recent economic slowdown have only served to add further uncertainty to a recovery in semiconductor spending," said John D. Heaton, president and CEO of Nanometrics. "We expect growth to resume once the uncertainty in the global economy subsides," he added.
For the second quarter, the supplier of integrated metrology and stand alone systems posted a net income of $1.5 million, or $0.13 per share, on sales of $14.8 million. Until today's new guidance, financial analysts had been expecting Nanometrics to report a net income of $0.10 per share in the third quarter, according to First Call/Thomson Financial.