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Veeco Reports Q2 2022 Results

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"Another record revenue quarter in our semiconductor business", says Bill Miller, Veeco’s CEO

Veeco Instruments has announced financial results for its Q2 ended June 30, 2022.

Revenues were $164.0 million compared with $146.3 million in the same period last year. GAAP net income was $9.7 million, or $0.18 per diluted share, compared with $6.3 million, or $0.12 per diluted share in the same period last year. Non-GAAP net income was $20.0 million, or $0.35 per diluted share, compared with $17.9 million, or $0.35 per diluted share in the same period last year

“We had another record revenue quarter in our semiconductor business with significant contributions coming from our laser annealing and advanced packaging lithography systems,” commented Bill Miller, Veeco's CEO. “Demand is stemming predominantly from advanced and trailing node logic applications where Veeco's semiconductor exposure is greatest. Our new San Jose facility is on track to be completed by the end of the third quarter, and the increased manufacturing footprint is enabling our semiconductor growth.”

“We're experiencing success with the investments we've made in our evaluation program as demonstrated by the continued adoption of our technologies by leading customers. Looking ahead, the Veeco United team remains committed to achieving our full year 2022 targets.

Guidance and Outlook

For Veeco's third quarter 2022, revenue is expected in the range of $160 million to $180 million; GAAP diluted earnings per share are expected in the range of $0.14 to $0.30; and Non-GAAP diluted earnings per share are expected in the range of $0.32 to $0.48.

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