Veeco reports Q1 results
A positive quarter with increases in revenue and income
Veeco Instruments has announced financial results for its first quarter ended March 31, 2024, with revenue of $174.5 million, compared with $153.5 million in the same period last year.
GAAP net income was $21.9 million, or $0.37 per diluted share, compared with $8.7 million, or $0.17 per diluted share in the same period last year. Non-GAAP net income was $26.4 million, or $0.45 per diluted share, compared with $16.9 million, or $0.30 per diluted share in the same period last year
“We delivered solid top and bottom line results toward the high-end of our guidance, led by record quarterly Semiconductor revenue,” commented Bill Miller, Veeco’s CEO. “We’re pleased to have received a multi-tool laser annealing order, including a Nanosecond annealing system, from a leading edge semiconductor company for their 2 nanometer gate-all-around process. Our Laser Annealing business continues to gain share at our customers most advanced nodes, with this win further validating our position.”
Outlook
For Veeco’s second quarter 2024, revenue is expected in the range of $165 million to $185 million. GAAP diluted earnings per share are expected in the range of $0.22 to $0.33. Non-GAAP diluted earnings per share are expected in the range of $0.38 to $0.48
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