Veeco reports another year of growth
Annual 2022 revenues were $646.1 million, compared with $583.3 million in 2021
Veeco has reported its Q4 and full year 2022 results. CEO Bill Miller, Veeco’s CEO declared it "another year of growth".
“We achieved record revenue with our semiconductor products led by increased traction in laser annealing for both advanced and trailing nodes. We grew our backlog with strong order activity while also strengthening our balance sheet with robust cashflow from operations,” said Miller.
“We enter 2023 cautiously optimistic,” continued Miller. “We’re focused on investing R&D in our product roadmaps and integrating our recently acquired SiC epitaxy business. We expect to outperform the wafer fab equipment market with our semiconductor products, grow in the data storage market and maintain profitability during the current macroeconomic challenges."
Q4 2022 revenues were $153.8 million, compared with $153.0 million in the same period last year, while GAAP net income was $128.9 million, or $2.00 per diluted share, compared with $8.2 million, or $0.15 per diluted share in the same period last year. Non-GAAP net income was $21.9 million, or $0.38 per diluted share, compared with $22.6 million, or $0.43 per diluted share in the same period last year
For the fiscal year, revenues were $646.1 million, compared with $583.3 million in the same period last year. GAAP net income was $166.9 million, or $2.71 per diluted share, compared with $26.0 million, or $0.49 per diluted share in the same period last year. Non-GAAP net income of $89.6 million, or $1.57 per diluted share, compared with $73.6 million, or $1.43 per diluted share in the same period last year.
Guidance and Outlook
For Veeco’s first quarter 2023, revenue is expected in the range of $130 million to $150 million; GAAP diluted earnings (loss) per share are expected in the range of $(0.03) to $0.16; and non-GAAP diluted earnings per share are expected in the range of $0.12 to $0.28.
