REHOVOT, Israel, Feb. 15,
2024 /PRNewswire/ -- Nova (Nasdaq: NVMI) today
announced financial results for the fourth quarter and full year
ended December 31, 2023.
Fourth Quarter 2023 Highlights:
- Quarterly revenue of $134.2
million, up 4% QoQ, exceeding the high end of the
guidance of $132 million.
- Record GAAP net income of $38.1
million, or $1.20 per diluted
share, up 13% QoQ, exceeding the high end of the guidance of
$1.11.
- Record Non-GAAP net income of $43.6
million, or $1.36 per diluted
share, up 10% QoQ, exceeding the high end of the guidance of
$1.31.
- Continued proliferation of materials and chemical metrology
solutions across both Frontend and Backend markets.
- Expanding the adoption of optical metrology solutions among
multiple DRAM customers for High Bandwidth Memory.
Full Year 2023 Highlights:
- Annual revenue of $517.9
million.
- GAAP net income of $136.3
million, or $4.28 per diluted
share.
- Non-GAAP net income of $155.9
million, or $4.86 per diluted
share.
- Solidifying Nova's leadership position in materials process
control.
- Multiple PRISM wins in Memory, Logic and Hybrid Bonding
customers.
GAAP Results (K)
|
Q4 2023
|
Q3 2023
|
Q4 2022
|
FY 2023
|
FY 2022
|
|
Revenues
|
$134,219
|
$128,808
|
$151,238
|
$517,922
|
$570,729
|
|
Net Income
|
$38,068
|
$33,689
|
$36,098
|
$136,310
|
$140,213
|
|
Earnings per Diluted
Share
|
$1.20
|
$1.06
|
$1.15
|
$4.28
|
$4.43
|
Non-GAAP Results (K)
|
Q4 2023
|
Q3 2023
|
Q4 2022
|
FY 2023
|
FY 2022
|
|
Net Income
|
$43,597
|
$39,405
|
$40,778
|
$155,891
|
$161,509
|
|
Earnings per Diluted
Share
|
$1.36
|
$1.23
|
$1.28
|
$4.86
|
$5.07
|
A reconciliation between GAAP operating results and non-GAAP
operating results is provided following the financial statements
included in this release. See also "Use of Non-GAAP Adjusted
Financial Measures" section.
Management Comments
"Nova delivered a robust quarter, exceeding the top end of our
guidance for revenue and profit, concluding the fiscal year on a
stronger note than initially anticipated," said Gaby Waisman, President and CEO. "Our
diversified exposure across territories and markets allowed us to
achieve record performance in chemical metrology and services. Nova
is uniquely positioned to accelerate its market penetration in
Hybrid Bonding and to capitalize on the transition to GAA through
our strong position in advanced logic manufacturing. Looking
forward, we see positive performance indicators across our growth
engines, expected to steer Nova to a path of growth in 2024."
2024 First Quarter Financial Outlook
Management provided an outlook for the first quarter, the period
ending March 31, 2024. Based on
current estimates, management expects:
- $134 million to $140 million in revenue
- $1.00 to $1.12 in diluted GAAP EPS
- $1.21 to $1.33 in diluted non-GAAP EPS
2023 Fourth Quarter Results
Total revenues for the fourth quarter of
2023 were $134.2 million, an increase
of 4% compared with the third quarter of 2023
and a decrease of 11% compared with the fourth quarter of 2022.
Gross margin in the fourth quarter of 2023 was 55%,
compared with 57% in the third quarter of 2023 and
54% in the fourth quarter of 2022.
Operating expenses in the fourth quarter of 2023 were
$40.4 million, compared with
$38.1 million in the third
quarter of 2023 and $45.5 million in the fourth quarter of
2022.
On a GAAP basis, the Company reported net income of $38.1 million, or $1.20 per diluted share, in the fourth quarter of
2023. This is compared with net income of $33.7 million, or $1.06 per diluted share, in the third quarter of
2023, and $36.1 million, or
$1.15 per diluted share, in the
fourth quarter of 2022.
On a non-GAAP basis, the Company reported net income of
$43.6 million, or $1.36 per diluted share, in the fourth quarter of
2023. This is compared with net income of $39.4 million, or $1.23 per diluted share, in the third quarter of
2023, and $40.8 million, or
$1.28 per diluted share, in the
fourth quarter of 2022.
2023 Full Year Results
Total revenues for 2023 were $517.9
million, a decrease of 9% compared to total revenues of
$570.7 million for 2022.
Gross margin in 2023 was 57%, compared with 56% in 2022.
Operating expenses in 2023 were $160.9
million, compared with operating expenses of $167.0 million in 2022.
On a GAAP basis, the Company reported net income of $136.3 million, or $4.28 per diluted share, in 2023. This is
compared with a net income of $140.2
million, or $4.43 per diluted
share, in 2022.
On a non-GAAP basis, the Company reported net income of
$155.9 million, or $4.86 per diluted share, in 2023. This is
compared with net income of $161.5
million, or $5.07 per diluted
share, in 2022.
Conference Call Information
Nova will host a conference call today, February 15, 2024, at 8:30
a.m. Eastern Time, to discuss the Company's fourth quarter
2023 financial results and outlook. To attend the conference call,
please dial one of the following teleconferencing numbers. Please
begin by placing your calls five minutes before the conference call
commences. If you are unable to connect using the toll-free
numbers, please try the international dial-in number.
U.S. TOLL-FREE Dial-in Number: 1-833-816-1427
ISRAEL TOLL-FREE Dial-in Number:
1809-213-284
INTERNATIONAL Dial-in Number: 1-412-317-0519
At:
8:30 a.m. Eastern
Time
5:30 a.m. Pacific Time
3:30 p.m. Israel Time
The conference call will also be webcast live from a Link on
Nova's website at https://www.novami.com/investors/events/.
A replay of the conference call will be available from
February 15, 2024, at 11:30 a.m. Eastern Time until November 22, 2024, at 11:59 p.m. Eastern Time. To access the replay,
please dial one of the following numbers:
Replay Dial-in U.S. TOLL-FREE: 1-877-344-7529
Replay Dial-in INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 6569905
A replay will also be available for 90 days on
Nova's website link at
https://www.novami.com/investors/events/.
About Nova
Nova is a leading innovator and key
provider of material, optical and chemical metrology solutions for
advanced process control in semiconductor manufacturing. Nova
delivers continuous innovation by providing state-of-the-art,
high-performance metrology solutions for effective process control
throughout the semiconductor fabrication lifecycle. Nova's product
portfolio, which combines high-precision hardware and cutting-edge
software, provides its customers with deep insight into developing
and producing the most advanced semiconductor devices. Nova's
unique capability to deliver innovative solutions enables its
customers to improve performance, enhance product yields and
accelerate time to market. Nova acts as a partner to semiconductor
manufacturers from its offices worldwide. Additional information
may be found on Nova's website link -
https://www.novami.com/.
Nova is traded on the Nasdaq and TASE, Nasdaq ticker symbol
NVMI.
Use of Non-GAAP Adjusted Financial Measures
This press
release provides financial measures that exclude amortization of
acquired intangible assets, acquisition-related expenses, inventory
step-up and contingent consideration revaluation, stock-based
compensation expenses, revaluation of operating lease liabilities
and remeasurement of intercompany loans, amortization of debt
discount and issuance costs and tax effect of non-GAAP adjustment,
as applicable, and are therefore not calculated in accordance with
generally accepted accounting principles (GAAP). Management
believes that these non-GAAP financial measures provide meaningful
supplemental information regarding Nova's performance because they
reflect our operational results and enhance management's and
investors' ability to evaluate Nova's performance before charges or
benefits considered by management to be outside Nova's ongoing
operating results. The presentation of this non-GAAP financial
information is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with GAAP. Management believes that it is in the best
interest of its investors to provide financial information that
will facilitate comparison of both historical and future results
and allow greater transparency to supplemental information used by
management in its financial and operational decision making. A
reconciliation of each GAAP to non-GAAP financial measure discussed
in this press release is contained in the accompanying financial
tables.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
relating to future events or our future performance, such as
statements regarding, but not limited to, anticipated growth
opportunities and projections about our business and its future
revenues, expenses and profitability. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance
or achievements to differ materially from any future results,
levels of activity, performance or achievements expressed or
implied in those forward-looking statements. Factors that may
affect our results, performance, circumstances or achievements
include, but are not limited to, the following: political, economic
and military instability in Israel, including related to the recent attack
by Hamas and other terrorist organizations from the Gaza Strip and Israel's war against them; increased
information technology security threats and sophisticated computer
crime; foreign political and economic risks including supply-chain
difficulties; regulations that could restrict our operations such
as economic sanctions and export restrictions; changes in U.S.
trade policies; indirect effects of the Russia – Ukraine conflict; market instability including
inflation and recessionary pressures; risks related to doing
business with China; catastrophic
events such as the outbreak of COVID-19; inability to protect our
intellectual property; open source technology exposure; failure to
compete effectively or to respond to rapid technological changes;
consolidation in our industry; difficulty in predicting the length
and strength of any downturn or expansion period of the market we
target; factors that adversely affect the pricing and demand for
our product lines; dependency on a small number of large customers;
dependency on a single manufacturing facility per product line;
dependency on a limited number of suppliers; difficulty in
integrating current or future acquisitions; lengthy sales cycle and
customer delays in orders; risks related to our convertible notes;
currency fluctuations; and quarterly fluctuations in our operating
results. We cannot guarantee future results, levels of activity,
performance or achievements. The matters discussed in this press
release also involve risks and uncertainties summarized under the
heading "Risk Factors" in Nova's Annual Report on Form 20-F for the
year ended December 31, 2022, filed
with the Securities and Exchange Commission on February 28, 2023. These factors are updated from
time to time through the filing of reports and registration
statements with the Securities and Exchange Commission. Nova Ltd.
does not assume any obligation to update the forward-looking
information contained in this press release.
(Tables to Follow)
NOVA LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in
thousands) - (Unaudited)
|
|
|
|
As of December
31,
|
|
ASSETS
|
2023
|
2022
|
|
Current
assets
|
|
|
|
Cash and cash
equivalents
|
107,574
|
111,121
|
|
Short-term
interest-bearing bank deposits
|
119,850
|
95,305
|
|
Marketable
securities
|
216,258
|
167,073
|
|
Trade accounts
receivable, net
|
111,256
|
109,320
|
|
Inventories
|
138,198
|
116,600
|
|
Other current
assets
|
17,084
|
13,527
|
|
Total current
assets
|
710,220
|
612,946
|
|
Non-current
assets
|
|
|
|
Marketable
securities
|
191,351
|
153,462
|
|
Interest-bearing bank
deposits and restricted cash
|
6,254
|
2,083
|
|
Deferred tax
assets
|
23,583
|
20,097
|
|
Operating lease
right-of-use assets
|
41,856
|
44,885
|
|
Property plant and
equipment, net
|
66,874
|
55,886
|
|
Intangible assets,
net
|
39,184
|
43,586
|
|
Goodwill
|
50,080
|
49,009
|
|
Other long-term
assets
|
4,405
|
2,151
|
|
Total non-current
assets
|
423,587
|
371,159
|
|
Total
assets
|
1,133,807
|
984,105
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
Current
liabilities
|
|
|
|
Convertible senior notes, net
|
197,678
|
-
|
|
Trade accounts
payable
|
35,158
|
42,732
|
|
Deferred
revenues
|
41,978
|
30,543
|
|
Operating lease
current liabilities
|
6,703
|
5,968
|
|
Other current
liabilities
|
41,294
|
54,825
|
|
Total current
liabilities
|
322,811
|
134,068
|
|
Non-current
liabilities
|
|
|
|
Convertible senior
notes, net
|
-
|
196,394
|
|
Operating lease
long-term liabilities
|
39,762
|
43,697
|
|
Long-term deferred tax
liability
|
10,574
|
12,190
|
|
Other long-term
liabilities
|
9,908
|
10,793
|
|
Total non-current
liabilities
|
60,244
|
263,074
|
|
Shareholders'
equity
|
750,752
|
586,963
|
|
Total liabilities
and shareholders' equity
|
1,133,807
|
984,105
|
NOVA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars
in thousands, except per share data) - (Unaudited)
|
|
|
|
|
Three months
ended
December 31,
|
Year
ended
December
31,
|
|
2023
|
2022
|
2023
|
2022
|
|
Revenues:
|
|
|
|
|
|
Products
|
104,108
|
123,486
|
405,037
|
464,152
|
|
Services
|
30,111
|
27,752
|
112,885
|
106,577
|
|
Total
revenues
|
134,219
|
151,238
|
517,922
|
570,729
|
|
Total cost of
revenues
|
60,207
|
68,817
|
224,745
|
253,759
|
|
Gross
profit
|
74,012
|
82,421
|
293,177
|
316,970
|
|
Operating
expenses:
|
|
|
|
|
|
Research and
development, net
|
21,290
|
26,206
|
88,043
|
90,458
|
|
Sales and
marketing
|
13,580
|
14,214
|
52,467
|
52,729
|
|
General and
administrative
|
5,480
|
5,077
|
20,404
|
23,852
|
|
Total operating
expenses
|
40,350
|
45,497
|
160,914
|
167,039
|
|
Operating
income
|
33,662
|
36,924
|
132,263
|
149,931
|
|
Financing income,
net
|
7,283
|
2,157
|
22,436
|
8,478
|
|
Income before taxes
on income
|
40,945
|
39,081
|
154,699
|
158,409
|
|
Income tax
expenses
|
2,877
|
2,983
|
18,389
|
18,196
|
|
Net income for the
period
|
38,068
|
36,098
|
136,310
|
140,213
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
Basic
|
1.31
|
1.26
|
4.73
|
4.89
|
|
Diluted
|
1.20
|
1.15
|
4.28
|
4.43
|
|
|
|
|
|
|
Shares used in
calculation of earnings per share
(in thousands):
|
|
|
|
|
|
Basic
|
28,975
|
28,731
|
28,828
|
28,697
|
|
Diluted
|
32,023
|
31,737
|
32,089
|
31,870
|
NOVA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in
thousands) - (Unaudited)
|
|
|
|
|
Three months
ended
December 31,
|
Year
ended
December
31,
|
|
2023
|
2022
|
2023
|
2022
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
Net
income
|
38,068
|
36,098
|
136,310
|
140,213
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
Depreciation of property and
equipment
|
2,756
|
2,491
|
10,344
|
8,621
|
|
Amortization of intangible
assets
|
1,461
|
1,463
|
5,857
|
6,033
|
|
Amortization of premium and
accretion of discount on marketable securities, net
|
(1,134)
|
(254)
|
(3,001)
|
1,666
|
|
Amortization of debt
discount and issuance costs
|
324
|
322
|
1,284
|
1,282
|
|
Share-based
compensation
|
5,654
|
4,381
|
18,286
|
16,647
|
|
Net effect of exchange rate
fluctuation
|
(2,591)
|
412
|
1,754
|
4,523
|
|
Changes in assets and
liabilities:
|
|
|
|
|
|
Trade accounts receivable,
net
|
(18,606)
|
(9,421)
|
(1,183)
|
(31,634)
|
|
Inventories
|
2,851
|
(2,168)
|
(26,000)
|
(29,311)
|
|
Other current and long-term
assets
|
(361)
|
5,926
|
(5,752)
|
(4,223)
|
|
Deferred taxes,
net
|
(185)
|
(6,598)
|
(6,241)
|
(13,740)
|
|
Operating lease right-of-use
assets
|
259
|
841
|
3,050
|
3,873
|
|
Trade accounts
payable
|
8,917
|
(79)
|
(7,807)
|
5,142
|
|
Deferred revenues
|
(292)
|
10,492
|
11,391
|
15,243
|
|
Operating lease
liabilities
|
2,091
|
115
|
(3,221)
|
(6,351)
|
|
Other current and long-term
liabilities
|
(9,671)
|
5,548
|
(11,352)
|
1,509
|
|
Accrued severance pay,
net
|
64
|
27
|
(188)
|
46
|
|
Net cash provided by
operating activities
|
29,605
|
49,596
|
123,531
|
119,539
|
|
Cash flows from
investment activities:
|
|
|
|
|
|
Acquisition of
subsidiary, net of acquired cash
|
-
|
-
|
-
|
(78,469)
|
|
Change in short-term
and long-term interest-bearing bank deposits
|
31,367
|
(26,517)
|
(29,658)
|
129,944
|
|
Investment in
marketable securities
|
(106,695)
|
(30,064)
|
(273,572)
|
(211,742)
|
|
Proceeds from maturity
of marketable securities
|
44,443
|
23,390
|
195,087
|
81,325
|
|
Purchase of property
and equipment
|
(7,601)
|
(8,429)
|
(17,188)
|
(21,314)
|
|
Net cash provided by
(used in) investing activities
|
(38,486)
|
(41,620)
|
(125,331)
|
(100,256)
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
Settlement of a
contingent consideration liability
|
-
|
-
|
-
|
(8,480)
|
|
Purchases of treasury
shares
|
-
|
(15,000)
|
(112)
|
(21,416)
|
|
Proceeds from exercise
of options
|
-
|
8
|
122
|
90
|
|
Net cash provided by
(used in) financing activities
|
-
|
(14,992)
|
10
|
(29,806)
|
|
Effect of exchange rate
fluctuations on cash and cash equivalents
|
(25)
|
(77)
|
(2,357)
|
(4,454)
|
|
Changes in cash and
cash equivalents and restricted cash
|
(8,906)
|
(7,093)
|
(4,147)
|
(14,977)
|
|
Cash and cash
equivalents and restricted cash -beginning of
period
|
116,480
|
118,814
|
111,721
|
126,698
|
|
Cash and cash
equivalents - end of period
|
107,574
|
111,721
|
107,574
|
111,721
|
NOVA LTD.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(U.S. dollars in
thousands, except percentage and per share data) -
(Unaudited)
|
|
|
|
|
Three months
ended
|
|
|
December
31,
2023
|
September
30,
2023
|
December
31,
2022
|
|
GAAP gross
profit
|
74,012
|
72,241
|
82,421
|
|
Stock-based
compensation*
|
1,537
|
1,173
|
1,148
|
|
Amortization of
acquired intangible assets
|
1,354
|
1,369
|
1,307
|
|
Non-GAAP gross
profit
|
76,903
|
74,783
|
84,876
|
|
GAAP gross margin as
a percentage of revenues
|
55 %
|
56 %
|
54 %
|
|
Non-GAAP gross
margin as a percentage of revenues
|
57 %
|
58 %
|
56 %
|
|
|
|
|
|
GAAP operating
income
|
33,662
|
34,148
|
36,924
|
|
Stock-based
compensation*
|
5,654
|
4,571
|
4,381
|
|
Acquisition-related expenses and
contingent
consideration
revaluation
|
-
|
-
|
(752)
|
|
Amortization of
acquired intangible assets
|
1,461
|
1,477
|
1,463
|
|
Non-GAAP operating
income
|
40,777
|
40,196
|
42,016
|
|
GAAP operating
margin as a percentage of revenues
|
25 %
|
27 %
|
24 %
|
|
Non-GAAP operating
margin as a percentage of revenues
|
30 %
|
31 %
|
28 %
|
|
|
|
|
|
GAAP net
income
|
38,068
|
33,689
|
36,098
|
|
Stock-based
compensation*
|
5,654
|
4,571
|
4,381
|
|
Acquisition-related
expenses and contingent
consideration
revaluation
|
-
|
-
|
(752)
|
|
Amortization of
acquired intangible assets
|
1,461
|
1,477
|
1,463
|
|
Amortization of debt
discount and issuance costs
|
324
|
324
|
322
|
|
Revaluation of
operating lease and intercompany loans
|
(827)
|
423
|
294
|
|
Tax effect of non-GAAP
adjustments
|
(1,083)
|
(1,079)
|
(1,028)
|
|
Non-GAAP net
income
|
43,597
|
39,405
|
40,778
|
|
|
|
|
|
GAAP basic earnings per
share
|
1.31
|
1.17
|
1.26
|
|
Non-GAAP basic earnings
per share
|
1.50
|
1.36
|
1.42
|
|
|
|
|
|
GAAP diluted earnings
per share
|
1.20
|
1.06
|
1.15
|
|
Non-GAAP diluted
earnings per share
|
1.36
|
1.23
|
1.28
|
|
|
|
|
|
Shares used for
calculation of earnings per share
(in thousands):
|
|
|
|
|
Basic
|
28,975
|
28,870
|
28,731
|
|
Diluted
|
32,023
|
31,983
|
31,737
|
|
|
|
|
|
|
|
|
|
|
|
* Stock-based
compensation for the three months ended December 31, 2023 included
in - Cost of revenues - 1,537;
Research and development, net - 2,554; Sales and marketing - 1,039;
General and administrative - 524.
|
NOVA LTD.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(U.S. dollars in
thousands, except percentage and per share data) -
(Unaudited)
|
|
|
|
Year ended December
31,
|
|
2023
|
2022
|
|
GAAP gross
profit
|
293,177
|
316,970
|
|
Stock-based
compensation*
|
4,946
|
4,166
|
|
Acquisition-related
inventory step-up
|
5,430
|
5,426
|
|
Non-GAAP gross
profit
|
303,553
|
329,534
|
|
GAAP gross margin as a
percentage of revenues
|
57 %
|
56 %
|
|
Non-GAAP gross margin
as a percentage of revenues
|
59 %
|
58 %
|
|
|
|
|
GAAP operating
income
|
132,263
|
149,931
|
|
Stock-based
compensation*
|
18,286
|
16,647
|
|
Acquisition-related
inventory step-up
|
-
|
2,972
|
|
Acquisition-related
expenses and contingent
consideration
revaluation
|
-
|
2,995
|
|
Amortization of
acquired intangible assets
|
5,857
|
6,033
|
|
Non-GAAP operating
income
|
156,406
|
178,578
|
|
GAAP operating margin
as a percentage of revenues
|
26 %
|
26 %
|
|
Non-GAAP operating
margin as a percentage of revenues
|
30 %
|
31 %
|
|
|
|
|
GAAP net
income
|
136,310
|
140,213
|
|
Stock-based
compensation*
|
18,286
|
16,647
|
|
Acquisition-related
inventory step-up
|
-
|
2,972
|
|
Acquisition-related
expenses and contingent
consideration
revaluation
|
-
|
2,995
|
|
Amortization of
acquired intangible assets
|
5,857
|
6,033
|
|
Amortization of debt
discount and issuance costs
|
1,284
|
1,282
|
|
Revaluation of
operating lease liabilities
|
(1,994)
|
(4,174)
|
|
Tax effect of non-GAAP
adjustments
|
(3,852)
|
(4,459)
|
|
Non-GAAP net
income
|
155,891
|
161,509
|
|
|
|
|
GAAP basic earnings per
share
|
4.73
|
4.89
|
|
Non-GAAP basic earnings
per share
|
5.41
|
5.63
|
|
|
|
|
GAAP diluted earnings
per share
|
4.28
|
4.43
|
|
Non-GAAP diluted
earnings per share
|
4.86
|
5.07
|
|
|
|
|
Shares used for
calculation of earnings per share
(in thousands):
|
|
|
|
Basic
|
28,828
|
28,697
|
|
Diluted
|
32,089
|
31,870
|
|
|
|
|
* Stock-based
compensation for the year ended December 31, 2023, included in -
Cost of revenues - 4,946; Research
and development, net - 7,736; Sales and marketing - 3,437; General
and administrative - 2,167.
|
|
NOVA LTD.
SUPPLEMENTAL INFORMATION - RECONCILIATION OF FIRST QUARTER 2024
GAAP TO NON-GAAP GUIDANCE
(U.S. dollars)
(Unaudited)
|
|
|
|
|
Low
|
High
|
|
Estimated GAAP net
income per diluted share
|
1.00
|
1.12
|
|
Estimated non-GAAP
items:
|
|
|
|
Stock-based
compensation
|
0.20
|
0.20
|
|
Amortization of
acquired intangible assets
|
0.04
|
0.04
|
|
Amortization of
issuance costs
|
0.01
|
0.01
|
|
Tax effect of non-GAAP
adjustments
|
(0.04)
|
(0.04)
|
|
Estimated non-GAAP net
income per diluted share
|
1.21
|
1.33
|
Company Contact:
Dror David, Chief Financial
Officer
Tel: +972-73-229-5760
E-mail - investors@novami.com
Nova website link - https://www.novami.com/
Investor Relations Contact:
Miri Segal MS-IR LLC
Tel: +917-607-8654
E-mail - msegal@ms-ir.com
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SOURCE Nova