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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 15, 2000
Date of Report
(Date of earliest event reported)
NANOMETRICS INCORPORATED
(Exact name of registrant as specified in its charter)
CALIFORNIA
(State or other jurisdiction of incorporation)
0-13470 94-2276314
(Commission File No.) (IRS Employer Identification Number)
310 DeGuigne Drive
Sunnyvale, California 94086
(Address of Principal Executive Offices)
(408) 746-1600
(Registrant's Telephone Number, Including Area Code)
<PAGE>
Item 5. Other Events
- ------- -------------
Results for Quarter Ended December 31, 1999
On February 15, 2000, Nanometrics Incorporated announced unaudited
financial results for its fourth fiscal quarter ended December 31, 1999 and for
its fiscal year ended December 31, 1999. Unaudited summary balance sheet
information and summary revenue and income results are as follows:
[The remainder of this page has been intentionally left blank]
2
<PAGE>
NANOMETRICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except share amounts)
<TABLE>
<CAPTION>
December 31, December 31,
ASSETS 1999 1998
------------ ------------
<S> <C> <C>
CURRENT ASSETS:
Cash and cash equivalents $ 3,442 $ 1,518
Short-term investments 14,698 9,913
Accounts receivable, net of allowances of $425 and $420 11,435 8,458
Inventories 9,460 11,719
Deferred income taxes 1,722 1,441
Prepaid expenses and other 1,196 2,328
------- -------
Total current assets 41,953 35,377
PROPERTY, PLANT AND EQUIPMENT, NET 2,998 2,481
DEFERRED INCOME TAXES 135 560
OTHER ASSETS 1,324 887
------- -------
TOTAL $46,410 $39,305
======= =======
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 2,412 $ 1,395
Accrued payroll and related expenses 751 317
Other current liabilities 1,721 1,720
Income taxes payable 464 -
Current portion of debt obligations 584 1,324
------- -------
Total current liabilities 5,932 4,756
DEFERRED RENT 35 43
DEBT OBLIGATIONS 2,288 2,496
------- -------
Total liabilities 8,255 7,295
------- -------
SHAREHOLDERS' EQUITY:
Common stock, no par value; 25,000,000 shares
authorized; 9,163,998 and 8,690,643 outstanding 17,277 14,170
Retained earnings 20,608 17,974
Accumulated other comprehensive income (loss) 270 (134)
------- -------
Total shareholders' equity 38,155 32,010
------- -------
TOTAL $46,410 $39,305
======= =======
</TABLE>
3
<PAGE>
NANOMETRICS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share amounts)
<TABLE>
<CAPTION>
Three Months Ended Year Ended
December 31, December 31,
(Unaudited)
1999 1998 1999 1998
---------- -------- -------- --------
<S> <C> <C> <C> <C>
NET REVENUES:
Product sales $11,712 $ 4,146 $32,162 $29,718
Service 1,163 847 4,246 3,546
------- ------- ------- -------
Total net revenues 12,875 4,993 36,408 33,264
------- ------- ------- -------
COSTS AND EXPENSES:
Cost of product sales 5,094 2,531 14,606 13,002
Cost of service 1,263 882 4,560 3,669
Research and development 1,449 1,026 4,658 4,206
Acquired in-process research and
development - - - 1,421
Selling 1,766 1,261 5,871 5,728
General and administrative 878 735 2,973 2,828
------- ------- ------- -------
Total costs and expenses 10,450 6,435 32,668 30,854
------- ------- ------- -------
INCOME (LOSS) FROM
OPERATIONS 2,425 (1,442) 3,740 2,410
OTHER INCOME (EXPENSE)
Interest income 178 109 661 572
Interest expense (22) (39) (85) (108)
Other, net 26 170 0 64
------- ------- ------- -------
Total other income, net 182 240 576 528
------- ------- ------- -------
INCOME (LOSS) BEFORE
PROVISION FOR INCOME TAXES 2,607 (1,202) 4,316 2,938
PROVISION FOR INCOME TAXES 976 (519) 1,682 1,108
------- ------- ------- -------
NET INCOME (LOSS) $ 1,631 $ (683) $ 2,634 $ 1,830
======= ======= ======= =======
NET INCOME (LOSS) PER SHARE:
Basic $.18 $(.08) $.30 $.21
======= ======= ======= =======
Diluted $.17 $(.08) $.28 $.20
======= ======= ======= =======
SHARES USED IN PER SHARE
COMPUTATION:
Basic 9,033 8,686 8,829 8,635
======= ======= ======= =======
Diluted 9,842 8,686 9,393 9,041
======= ======= ======= =======
</TABLE>
4
<PAGE>
These financial results are based on the quarter ended December 31, 1999
and the year ended December 31, 1999 and are not necessarily indicative of
future financial results. Investors are encouraged to review Nanometrics' other
filings with the Securities and Exchange Commission for a discussion of factors
that could affect Nanometrics' future performance.
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
(c) Exhibits
27.1 Financial Data Schedule
5
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: February 15, 2000 NANOMETRICS INCORPORATED
By: /s/ Paul B. Nolan
---------------------------------
Paul B. Nolan
Chief Financial Officer
6
<PAGE>
EXHIBIT NO. DESCRIPTION
- ----------- -----------
27.1 Financial Data Schedule
7
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1999 DEC-31-1999
<PERIOD-START> OCT-01-1999 JAN-01-1999
<PERIOD-END> DEC-31-1999 DEC-31-1999
<CASH> 3,442 3,442
<SECURITIES> 14,698 14,698
<RECEIVABLES> 11,860 11,860
<ALLOWANCES> 425 425
<INVENTORY> 9,460 9,460
<CURRENT-ASSETS> 41,953 41,953
<PP&E> 6,611 6,611
<DEPRECIATION> 3,613 3,613
<TOTAL-ASSETS> 46,410 46,410
<CURRENT-LIABILITIES> 5,932 5,932
<BONDS> 2,288 2,288
0 0
0 0
<COMMON> 17,277 17,277
<OTHER-SE> 20,878 20,878
<TOTAL-LIABILITY-AND-EQUITY> 46,410 46,410
<SALES> 11,712 32,162
<TOTAL-REVENUES> 12,875 36,408
<CGS> 5,094 14,606
<TOTAL-COSTS> 6,357 19,166
<OTHER-EXPENSES> 4,093 13,502
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 22 85
<INCOME-PRETAX> 2,607 4,316
<INCOME-TAX> 976 1,682
<INCOME-CONTINUING> 1,631 2,634
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 1,631 2,634
<EPS-BASIC> .18 .30
<EPS-DILUTED> .17 .28
</TABLE>
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