and our company, as we are included on a list of ho- norees that include some of the best scientific minds and business leaders in the nation. It is both inspiring and humbling to appear on this list of nanotechnolo- gy leaders who are creating a more competitive and innovative nation.”
In June of 2011, Nanomech announced the creation of nGlide, a lubrication additive that tremendously improves the efficiency and performance of machines and engines. Nanomech has created a pipeline of innovative product lines, such as Tufftek, Element X, and nGuard to position the company as a multi-plat- form leader in the nanotechnology innovation and commercialization fields.
n the fiscal 2011, Nanometrics‘ (NASDAQ: NANO) revenue increased to $230.1 million (+22%)
from $188.1 million in fiscal 2010. Gross margin was 53.5%, a decline compared to 54.4% in 2010, primarily due to product mix and the impact of lower factory absorption in the fourth quarter of 2011. GAAP net income was $28.7 million or $1.22 per share, compared to $55.9 million or $2.43 per share in the 2010. GAAP net income in 2011 included the negative impact of approximately $2.0 million in acquisition-related costs and $2.5 million for set- tlement of litigation with KLA-Tencor, while 2010 results reflected the favorable impact of the release of $18.2 million in income tax asset valuation allo- wances. Non-GAAP net income was $32.7 million or $1.39 per share, compared to $39.0 million or $1.70
per share in 2010. At December 31, 2011, Nanome- trics had $97.7 million in cash and cash equivalents and $160.6 million in working capital. Stockholders‘ equity, excluding intangible assets, was $183.6 milli- on, or $7.92 per share based on 23.2 million shares outstanding at year end.
Due to the improvement in business conditions since last quarter, management expects revenues in the range of $52 to $55 million, gross margin in the ran- ge of 47% to 50%, and operating income margin in the range of 5% to 10% for the first quarter of 2012.
he Michigan State University spin-out company nanoRETE will develop and commercialize an
inexpensive test for handheld biosensors to detect a broad range of threats such as E.coli, Salmonella, anthrax and tuberculosis. A significant leap forward in detection and diagnostic technology, it utilizes novel nanoparticles with magnetic, polymeric and electrical properties developed by Evangelyn Alocilja, MSU professor of biosystems and agricultural engi- neering and chief scientific officer of nanoRETE.
“Although the technology originates from research for biodefense applications, its potential reaches far beyond the initial scope,” said Fred Beyerlein, CEO of nanoRETE. “Our X-MARK platform-based tech- nology has the ability to detect multiple pathogens or toxins at one time, in a rapid, point-of-use, cost- effective manner. Imagine the potential applications for food growers, packagers or sellers. Contaminated food or water could be quickly identified, isolated and resolved before reaching the ultimate consu-
12-01 :: January 2012