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NanoMech, Inc. and Cameron (NYSE: CAM) announce an agreement to utilize TriboTuff(R) lubricant in some of Cameron’s valves and flow equipment used extensively in the worldwide gas and oil supply chain. This innovation dramatically extends performance, durability and reliability of critical mechanical components. NanoMech’s patent-pending macro-molecular nano-manufactured solution, TriboTuff, reduces friction to near zero for the first time in history, driving performance of machines and vehicles up, while significantly decreasing the amount of fossil fuel used.
The nGlide(R) technology platform product, TriboTuff, is a great example of NanoMech’s patented nano-inspired combinatorial material science it has pioneered in TuffTek(R) coatings that is also revolutionizing the cutting tool manufacturing industry. http://www.nanomech.biz
Nanometrics Incorporated (NASDAQ:NANO) announced financial results for its second quarter ended June 30, 2012. Revenues for the second quarter of 2012 were $53.2 million, down 4% from $55.5 million in the first quarter and down 17% from $64.4 million in the second quarter of 2011. GAAP gross margin was 46.6%, compared to 45.2% in the prior quarter and 55.7% in the year-ago period. GAAP net income was $4.5 million or $0.19 per diluted share, compared to $1.7 million or $0.07 per diluted share in the prior quarter and $11.1 million or $0.47 per diluted share in the second quarter of 2011. Non-GAAP net income was $3.1 million or $0.13 per diluted share, compared to $2.9 million or $0.12 per diluted share in the prior quarter and $11.3 million or $0.48 per diluted share in the second quarter of 2011.
At June 30, 2012, Nanometrics had $95.8 million in cash, cash equivalents and marketable securities and $161.9 million in working capital. Stockholders’ equity, excluding intangible assets, was $193.8 million, or $8.36 per share based on 23.2 million shares outstanding at quarter end.
Management forecasts a slowdown in industry spending, with total revenues expected to be in the range of $40 to $45 million in the third quarter of 2012. Management expects GAAP gross margin in the range of 44% to 48%, non-GAAP gross margin in the range of 46% to 49%, and operating expenses to increase between $0.4 million and $0.7 million from the second quarter. Management expects third quarter GAAP net earnings in the range of ($0.09) to $0.00 per share and non-GAAP net earnings in the range of ($0.07) to $0.02 per share.
Nanosphere, Inc. (NASDAQ:NSPH) reported financial results for the second quarter ending June 30, 2012. Revenues for the second quarter 2012 were $1.3 million compared to $0.5 million for the same period 2011. Revenue growth was attribu- table to new customer placements of the VerigeneSP System. Net loss for the second quarter of 2012 was $8.4 million, equivalent to the same period in 2011. The Company entered into marketing and distribution agreement in Europe with Thermo Fisher Scientific, and shipped 25 systems in the quarter; 166 cumulative systems placed.