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Veeco 'a Leading Player'

Veeco has been described as one of the foremost companies for solar, LEDs and nanotechnology.
Veeco has been described as leading player in the fields of solar, LED and nano-technology.

Brendan Coffey, editor of the Cabot Green Investor, told Blogging Stocks that the New York-based firm supplies tools and components to 80 per cent of the world s LED manufacturers and had an order backlog as of the end of 2009 of $402 million (£266.3 million)

He commented: "The strength of the LED and solar business, along with efficiencies Veeco management found during belt-tightening of early 2009, means Veeco is on track to post its first profit since 2006 this year."

Mr Coffey added that the company s share price has been trending upwards recently, achieving support on a par for the 50-day moving average and with a buy range of between 34 and 37.

Veeco was founded in 1945 by two scientists who took part in the Manhattan Project.

The name is derived from the Vacuum Electronic Equipment Company. However, in the 1960s the firm merged with Lambda and the Veeco of today was born.
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