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Positive Q3 For Veeco

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Revenues were$150.2 million compared with $112.1 million in the same period last year

Veeco Instruments has announced financial results for its third quarter ended September 30, 2021 with revenues of $150.2 million, compared with $112.1 million in the same period last year.

GAAP net income was $9.0 million, or $0.17 per diluted share, compared with $0.6 million, or $0.01 per diluted share in the same period last year.

Non-GAAP net income was $20.5 million, or $0.40 per diluted share, compared with $11.0 million, or $0.22 per diluted share in the same period last year

“Veeco delivered solid year-on-year and sequential growth in the third quarter with revenue and EPS at the high end of our guidance range. Cash flow from operations was the highest in several years demonstrating the effectiveness of our transformation,” commented William J. Miller, CEO. “Record semiconductor sales were the primary driver of our performance with shipments of our Laser Annealing and EUV mask blank systems.

“Once again, we are improving our outlook for 2021 and we are excited about the traction in our semiconductor business, which has been a focus of our transformation,” continued Miller. “We expect to ship the first systems in the coming weeks from our new state-of-the-art San Jose semiconductor equipment manufacturing facility.”

Guidance and Outlook

Veeco provided the following guidance for Q4 2021. Revenue is expected in the range of $140 million to $160 million; GAAP diluted earnings per share are expected in the range of $0.04 to $0.22; and non-GAAP diluted earnings per share are expected in the range of $0.27 to $0.45

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