Nova Modifies Its Name to Match Long-Term Strategy
Rehovot, Israel - August 2, 2021 - Nova (Nasdaq: NVMI), announced today that it changed its legal name from Nova Measuring Instruments to Nova. Following the company expansion driven by several growth engines, the Company believes the previous name no longer represents its technology portfolio and diversified offerings. The Company is retaining its NVMI ticker symbol and its Process Insight® tagline.
'We recently announced our NOVA500 strategic plan to organically grow our annual revenue to more than $500 million,' said Eitan Oppenhaim, Nova's President and CEO. 'As we continue our journey towards realizing this plan, based on our unique and differentiated portfolio that combines several technologies as well as an evolving integration of hardware and software, we believe our new company name expresses better our evolving identity and diversified growth ambitions.'
About Nova:
Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova's unique capability to deliver innovative X-ray and optical solutions enable its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at https://www.novami.com/.
Nova is traded on NASDAQ & TASE under the symbol NVMI.
Forward looking statement:
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following:catastrophic events such as the outbreak of COVID-19; increased information technology security threats and sophisticated computer crime; foreign political and economic risks; changes in U.S. trade policies; inability to protect intellectual property; open source technology exposure; failure to compete effectively or to respond to the rapid technological changes; consolidation in our industry; difficulty to predict the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; lengthy sales cycle and customer delays in orders; political, economic, and military instability in Israel; risks related to our convertible notes; currency fluctuations; and quarterly fluctuations in our operating results. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading 'Risk Factors' in Nova's Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 1, 2021. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward-looking information contained in this press release.
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Nova Measuring Instruments Ltd. published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 12:11:13 UTC.
Nova Ltd, former Nova Measuring Instruments Ltd,is an Israel based company which provides metrology solutions for the semiconductor manufacturing industry. The Company offers in-line Optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems, which are attached directly to wafer fabrication process equipment. Its metrology systems measure various film thickness and composition properties, as well as critical-dimension (CD) variables during various front-end and back-end of line steps in the semiconductor wafer fabrication process. Its product portfolio includes a set of in-situ, integrated and stand-alone metrology platforms suited for dimensional, films and material metrology measurements for process control across multiple semiconductor manufacturing process steps. Its products include NovaScan 2040, NovaScan 3090Next, Nova i500, Nova T500, Nova T600, Nova V2600 TSV metrology system among others.