Veeco reports strong Q3
Revenue was $177.4 million, compared with $171.9 million in the same period last year
Veeco Instruments has announced financial results for its third quarter ended September 30, 2023.
Revenue was $177.4 million, compared with $171.9 million in the same period last year. GAAP net income of $24.6 million, or $0.42 per diluted share, increased compared with $15.0 million, or $0.27 per diluted share in the same period last year.
Non-GAAP net income was $31.0 million, or $0.53 per diluted share, compared with $26.0 million, or $0.45 per diluted share in the same period last year.
“Veeco reported another quarter of strong top and bottom-line results, both above the high-end of our guidance,” commented Bill Miller, Veeco’s CEO. “In addition, our strategic initiative to grow in the semiconductor market continues to gain traction. Veeco had several key business wins during the quarter, and we recently shipped our first Nanosecond Annealing system to a Tier 1 logic customer for evaluation. We view this as an important milestone in expanding laser annealing into a broad range of new semiconductor applications.”
Guidance and Outlook
For Veeco’s fourth quarter 2023, revenue is expected in the range of $155 million to $175 million, GAAP diluted earnings per share are expected to be between $0.22 to $0.33, and non-GAAP diluted earnings per share between $0.35 to $0.45.