Nova's financial results: earned $ 20 million, or 70 cents a share

Nova's financial results for the first quarter of 2021, and the forecast it provided for the second quarter of the year, illustrate Oppenheim's optimism.
Nova, which develops and manufactures measurement solutions for chipmakers, earned $ 18 million, which is 60 cents a share, in the first quarter of 2021 based on US GAAP accounting - a 51% increase over the same quarter in 2020. Nova earned $ 20 million, or 70 cents a share, in the past quarter on a non-GAAP basis - that is, less expenses related to allocating options to executives and employees, reducing intangible assets and the effect of currency exchange rate changes on the dollar value and the company's commitment to pay rent. The stock averaged analysts' earnings forecasts of 62 cents a share in the first quarter of 2021.
Nova's revenue grew by 38% in the past quarter compared to the same quarter in 2020, and by 10% compared to the fourth quarter of 2020, and amounted to $ 84 million. Nova's revenue from product sales jumped 45% in the first quarter of 2021 compared to the same quarter in 2020 and totaled $ 66 million. The company's revenue from support services increased by 17% in the first quarter of 2021, compared to the same quarter last year and reached $ 18 million.
The increase in Nova's revenue stems from both the sharp increase in investment in the chip manufacturing industry, as reflected in TSMC's plan to double its investment in the world in 2021, and a similar plan by Samsung, the world's largest memory maker, to invest $ 30 billion in 2021 in the chip factories. The sharp increase in investment coincided with a shortage of chips, which caused a decline in the level of production of industries such as automobiles.