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Veeco Reports Solid Q2

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Revenues were $146.3 million, compared with $98.6 million in the same period last year

Veeco Instruments has announced financial results for its second quarter ended June 30, 2021. Results are reported in accordance with US generally accepted accounting principles (GAAP) and are also reported adjusting for certain items (Non-GAAP).

Revenues were $146.3 million, compared with $98.6 million in the same period last year. GAAP net income was $6.3 million, or $0.12 per diluted share, compared with a loss of $8.3 million, or $0.17 loss per diluted share in the same period last year. Non-GAAP net income of $17.9 million, or $0.35 per diluted share, compared with $5.5 million, or $0.11 per diluted share in the same period last year

“Veeco delivered solid performance in the second quarter with revenue and EPS at the high end of our guidance range,” commented William J. Miller, CEO. “Sales were driven primarily by shipments to our semiconductor and data storage customers.

“We are on track to deliver exceptional growth in 2021 and our evaluation systems in the field are performing well giving us confidence in our longer term growth plan,” continued Dr. Miller. “In addition, progress on our new manufacturing facility, supporting the semiconductor market, is on schedule and will enable us to meet future demand with increased manufacturing capacity.”

Guidance and Outlook

The following guidance is provided for Veeco's third quarter 2021: Revenue is expected in the range of $135 million to $155 million, GAAP diluted earnings per share are expected in the range of $0.02 to $0.20, and Non-GAAP diluted earnings per share are expected in the range of $0.25 to $0.44

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