Veeco reports Q4 and full year 2024
A successful year for the company with solid profitability
Veeco Instruments has announced financial results for its fourth quarter and fiscal year ended December 31, 2024.
For Q4, revenue was $182.1m, compared with $173.9m in the same period last year. GAAP net income was $15.0m, or $0.26 per diluted share, compared with $21.6m, or $0.37 per diluted share in the same period last year
Non-GAAP net income of $24.2m, or $0.41 per diluted share, compared with $29.8m, or $0.51 per diluted share in the same period last year
For the fiscal year, revenue was $717.3m, compared with $666.4m in the same period last year. GAAP net income was $73.7m, or $1.23 per diluted share, compared with GAAP net loss of $30.4m or $0.56 loss per diluted share in the same period last year
Non-GAAP net income was $104.3m, or $1.74 per diluted share, compared with $98.3m, or $1.69 per diluted share in the same period last year.
“Veeco had a successful year in 2024, highlighted by our semiconductor business outperforming WFE [wafer fab equipment] growth for the 4th consecutive year,” commented Bill Miller, Veeco’s CEO.
“We achieved several strategic milestones, grew the top-line and delivered solid profitability, all while continuing to allocate capital toward our largest growth opportunities. Looking ahead, our solutions in laser annealing, ion beam deposition, and advanced packaging are well-positioned to take advantage of growth in leading edge investment in the coming years.”
Guidance and outlook
For Veeco’s first quarter 2025, the company expects revenue in the range of $155m to $175m, GAAP diluted earnings per share in the range of $0.11 to $0.22, and Non-GAAP diluted earnings per share in the range of $0.26 to $0.36.
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