Israeli metrology solutions developer Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) has announced that due to additional customer orders received and delivered during the fourth quarter of 2016, management expects fourth quarter revenue to be about $50 million, up from the previously announced guidance of between $42 million and $46 million.
Earlier this month, Nova received orders worth more than $10 million from several companies.
At the time, Nova president and CEO Eitan Oppenhaim said, "With these final orders in 2016 we expect the fourth quarter to be a very strong conclusion to another record year, reflecting the demand we experience for our entire portfolio of solutions, including XPS and OCD. Based on the recent booking stream in the fourth quarter, we enter 2017 with growing momentum and increased confidence in our continued growth."
The company expects to post record yearly revenue of about $163 million.
Nova will release its results for the fourth quarter and full fiscal year 2016 before the NASDAQ market opens on Tuesday, February 14, 2017.
Nova's share price has risen 6.3% since the beginning of the year and 41% over the past three years, giving a market cap of $393 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2017
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