Veeco announces solid Q2
Revenue of $161.6 million, compared with $164.0 million in the same period last year
Veeco Instruments has announced financial results for its second quarter ended June 30, 2023.
Revenue was $161.6 million, compared with $164.0 million in the same period last year. GAAP net loss was $85.3 million, or $1.61 loss per diluted share, included a $97.1 million loss related to debt refinancing, compared with net income of $9.7 million, or $0.18 earnings per diluted share in the same period last year. Non-GAAP net income was $20.6 million, or $0.36 per diluted share, compared with $20.0 million, or $0.35 per diluted share in the same period last year
“Veeco had another solid quarter with strong top and bottom-line Non-GAAP results driven by record semiconductor revenue,” commented Bill Miller, Veeco’s CEO “We continue to execute our Laser Annealing growth strategy in advanced node logic and memory by winning new customers and applications.”
“Veeco is uniquely positioned with differentiated technologies in secular growth markets. Looking ahead, we expect opportunities for our technologies to grow as customers continue to adopt our products for their most advanced node devices used for high-performance computing and artificial intelligence.”
Outlook
For Q3, revenue is expected in the range of $155 million to $175 million. GAAP diluted earnings per share are expected in the range of $0.16 to $0.27, and non-GAAP diluted earnings per share are expected in the range of $0.30 to $0.40.
