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Nanometrics profit beats consensus by 81.2% in fiscal Q1

Nanometrics Inc. said its normalized net income for the fiscal first quarter ended March 26 was 10 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS rose 30.8% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.4 million, an increase of 32.7% from $1.8 million in the prior-year period.

The normalized profit margin climbed to 5.1% from 3.6% in the year-earlier period.

Total revenue declined 5.7% on an annual basis to $47.5 million from $50.4 million, and total operating expenses decreased 9.0% on an annual basis to $43.8 million from $48.1 million.

Reported net income grew 29.1% year over year to $3.4 million, or 14 cents per share, from $2.7 million, or 11 cents per share.