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Nanometrics: 1Q Earnings Snapshot

MILPITAS, Calif. (AP) _ Nanometrics Inc. (NANO) on Tuesday reported first-quarter net income of $3 million.

On a per-share basis, the Milpitas, California-based company said it had profit of 12 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The maker of semiconductor manufacturing equipment posted revenue of $67.1 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $64.8 million.

For the current quarter ending in July, Nanometrics expects its per-share earnings to range from 13 cents to 28 cents.

The company said it expects revenue in the range of $61 million to $69 million for the fiscal second quarter.

Nanometrics shares have risen 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.80, an increase of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NANO at https://www.zacks.com/ap/NANO