Nanometrics Announces $80 Million Share Repurchase Program

MILPITAS, Calif.–(BUSINESS WIRE)–Nanometrics Incorporated (NASDAQ: NANO), a leading provider of advanced
process control systems, today announced that its board of directors has
authorized the repurchase of up to $80 million of the company’s common

“Nanometrics’ management team and board of directors are confident in
the company’s future growth prospects and are also committed to
returning capital to our stockholders,” commented Bruce C. Rhine,
chairman of the board of Nanometrics. “We continue to have a strong
balance sheet and have generated $96 million in free cash flows over the
past year. We believe the company has the financial position to invest
for future growth, as well as fund this $80 million stock repurchase
program. Following up on the prior $50 million plan, which was completed
early in 2018, we believe the stock repurchases will create further
value for our stockholders.”

This $80 million program is effective immediately. Share repurchases
under this program may be made through open market and privately
negotiated transactions, at times and in such amounts as management
deems appropriate.

As of December 29, 2018, Nanometrics had $152 million in cash, cash
equivalents and marketable securities, and approximately 24.4 million
shares outstanding.

About Nanometrics

Nanometrics is a leading provider of advanced, high-performance process
control metrology and inspection solutions used primarily in the
semiconductor manufacturing industry, as well as in the fabrication of
other solid-state devices and components in the optoelectronic, LED and
storage industries, and more recently in the industrial, aerospace and
scientific research markets. Nanometrics’ process control solutions
include automated and integrated metrology systems as well as software
and analytics that measure and monitor key elements of device
performance and yield, such as critical dimensions, device structures,
surface shape and profile, overall topography and various thin film
properties, including three-dimensional features and film thickness, as
well as the optical, electrical and material properties of various
substrates, devices and components. Nanometrics’ solutions enable
advanced process control for device manufacturers, providing improved
device yield at reduced manufacturing cycle time, supporting the
accelerated product life cycles in the semiconductor and other advanced
markets. The company maintains its headquarters in Milpitas, California,
with sales and service offices worldwide. Nanometrics is traded on
Nasdaq Global Select Market under the symbol NANO. Nanometrics’ website

Forward Looking Statements

The statements in this press release regarding the intent of Nanometrics
with respect to the funding of its stock repurchase program and its
belief that that the stock repurchase program will create further value
for its stockholders are forward-looking statements. Although
Nanometrics believes that the expectations reflected in the
forward-looking statements are reasonable, these plans are dependent on
the company’s future financial condition and its determinations of the
continued value of a repurchase program, changing customer demands
and/or business conditions in the semiconductor industry and the overall
economy, the competitiveness of its products and management’s ability to
continue to achieve strong financial and cash generation performance.
For additional information and considerations regarding the risks faced
by Nanometrics, see its annual report on Form 10-K for the year ended
December 29, 2018, filed with the Securities and Exchange Commission on
February 25, 2019, as well as other periodic reports filed with the SEC
from time to time. Nanometrics disclaims any obligation to update
information contained in any forward-looking statement.


Investor Relations Contact:
Headgate Partners LLC

Company Contact:
Greg Swyt
President, Finance