Veeco Q4 suffers from LED commoditisation
Revenues dropped to $99.0 million, compared with $139.7 million in Q4 2017
Veeco Instruments has announced financial results for its fourth quarter and fiscal year ended December 31, 2018.
Revenues of $99.0 million, compared with $139.7 million in the same period last year, GAAP net loss of $144.7 million, or $3.11 loss per diluted share, and non-GAAP net loss of $7.5 million, or $0.16 loss per diluted share
"Commoditisation of the MOCVD market for LEDs in China has reduced our revenue significantly, and is reflected in our fourth quarter results,” commented William J. Miller, CEO. “However, we are excited about our future as we see order activity in leading edge, front-end semiconductor and exciting growth opportunities in compound semiconductor and advanced packaging.”
Guidance and Outlook
The following guidance is provided for Veeco’s first quarter 2019: revenue is expected in the range of $85 million to $105 million; non-GAAP operating income (loss) is expected in the range of ($12) million to ($3) million; GAAP earnings (loss) per share are expected in the range of ($0.59) to ($0.39). Non-GAAP earnings (loss) per share are expected in the range of ($0.30) to ($0.10)
