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Veeco posts Q3 results

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Revenues were $171.9 million, compared with $150.2 million in the same period last year.

Veeco Instruments has announced financial results for its third quarter ended September 30, 2022.

Revenues were $171.9 million, compared with $150.2 million in the same period last year. GAAP net income of $15.0 million, or $0.27 per diluted share, compared with $9.0 million, or $0.17 per diluted share in the same period last year

Non-GAAP net income of $26.0 million, or $0.45 per diluted share, compared with $20.5 million, or $0.40 per diluted share in the same period last year.

“With significant contributions from our laser annealing product line, as well as systems for advanced packaging and EUV mask blank production, we achieved another record revenue quarter in our semiconductor business which drove robust year-on-year revenue growth for the company,” commented Bill Miller, Veeco’s CEO.

“Despite the challenging current macro environment, we continue to invest in executing our growth strategy, are well positioned with attractive technologies and we are optimistic about expanding our served available market,” he said

Guidance and outlook

The following guidance is provided for Veeco’s fourth quarter 2022: Revenue is expected in the range of $150 million to $170 million; GAAP diluted earnings per share are expected in the range of $0.05 to $0.23; and non-GAAP diluted earnings per share are expected in the range of $0.24 to $0.40.

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