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Sep 26, 2020
Onto Innovation Q3 2020 Earnings Report
Reported financial results for the third quarter of 2020.
Key Takeaways
Onto Innovation reported third-quarter revenue of $126.5 million. Specialty device and advanced packaging revenue surged 44%. The GAAP net income for the third quarter of 2020 was $8.1 million, or $0.16 per diluted share and non-GAAP net income was $19.6 million, or $0.40 per diluted share.
Revenue of $126.5 million was impacted by the timing in metrology spending predominantly from two customers.
Specialty device and advanced packaging revenue surged 44% in the quarter driven by strong demand for process control for the 5G ecosystem and advanced packaging for high-power computing (HPC) and RF modules.
Gross margin improved to 54%, above previous guidance.
Cash and marketable securities increased $28.3 million in the third quarter and cash from operations was 21% of revenue in the quarter.
Forward Guidance
The Company is currently anticipating revenue for the fourth quarter 2020 to be in the range of $145 to $155 million. Within this revenue range the Company is expecting GAAP net income per diluted share to be in the range of $0.35 to $0.49 and non-GAAP net income per diluted share to be in the range of $0.55 to $0.66.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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