MILPITAS, Calif.--Nanometrics Inc. today warned investors that it will report lower-than-expected revenues for the fourth quarter because of changes in tool shipments to a major South Korean chip maker. Nanometrics did not identify the Korean customer.
The metrology systems supplier had told analysts that it expected an 8-to-10% increase in Q4 revenues from the third quarter. Nanometrics posted sales of $20.7 million and a net income of $4.0 million in the third quarter, ended Sept. 30. The company said it now expects to report revenues of about $20 million for the fourth quarter, which ends Dec. 31.
"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," said John D. Heaton, president and CEO of Nanometrics. "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."