Nova, an Israeli maker of chip-measuring equipment, reported record sales and profit for the third quarter and forecast higher sales for the final three months of the year. Its shares rebounded in Friday midday trading, up about 10.9%.
Nova said Thursday in its results that revenue was $287.8 million, up 28% from a year earlier. Profit under standard accounting rules was $90.0 million, or $2.64 a share. Excluding certain items such as stock pay and acquisition costs, profit was $98.4 million, or $2.86 a share. Both profit figures were records, the company said.
Memory and advanced packaging drive sales
Nova sells tools that measure and inspect computer chips while they are made, so factories can catch problems early. The company said it had record sales from memory chips and from advanced packaging, a way of stacking and connecting chips that is used in high-speed AI memory. It said memory demand came from its tools that measure the size and materials of chip layers, and that packaging sales grew as customers added capacity for high-bandwidth memory and advanced logic chips.
What Nova expects next
For the fourth quarter, Nova expects revenue of $305 million to $315 million and adjusted earnings of $3.03 to $3.18 a share. Chief Executive Gaby Waisman said the company is confident it can win business from the biggest changes in chip technology because it can better see its customers’ investment plans.
In plain words: Nova sells the tools chipmakers use to check their work. Chipmakers are spending more on memory and advanced chips, so Nova sold more, earned more, and expects to sell more next quarter.
JBizNews Desk | Rehovot, Israel
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