Info
Info
News Article

Veeco's Q2 Revenue Up 38 Percent

Company reports $131.4 million revenue and narrowing GAAP loss

Process equipment company Veeco Instruments has announced financial results for its second fiscal quarter ended June 30, 2015.

It achieved revenue of $131.4 million, an increase of 38 percent compared with the same period last year. Non-GAAP adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) was up to $12.8 million or around 10 percent of revenue. The company has also reported narrowing GAAP loss to ($0.21) per diluted share.

Non-GAAP earnings grew to $0.20 per diluted share and it generated $7.7 million in cash from operations.

"We delivered solid second quarter results, achieving financial performance in line with our expectations across all P&L guided metrics. Revenue grew by  around 38 percent year-over-year and adjusted EBITDA increased to nearly 10 percent of revenue. These results illustrate our continued focus on driving growth and operational execution," commented John R. Peeler, chairman and CEO

"Our top line growth has been fueled by the rapid adoption of our TurboDisc EPIKTM700 MOCVD system. This latest generation product offers lower cost of ownership for our customers and improved margin contribution for Veeco, as compared with prior generation tools. We have now successfully demonstrated the tool's capabilities across multiple customers, which enabled us to begin recognising revenue upon shipment towards the end of the second quarter.

"Our Precision Surface Processing (PSP) business is performing exceptionally well and demand for these products remains healthy. Our differentiated and highly flexible process technology is well established in the broader MEMS market and gaining momentum in the Advanced Packaging space," Peeler concluded.

Guidance and Outlook

For Veeco's third fiscal quarter 2015: revenue is expected to be in the range of $135 million to $160 million; adjusted EBITDA is expected to be in the range of $14 million to $24 million;GAAP earnings (loss) per share are expected to be in the range of ($0.05) to $0.19; and non-GAAP earnings (loss) per share are expected to be in the range of $0.22 to $0.40



AngelTech Live III: Join us on 12 April 2021!

AngelTech Live III will be broadcast on 12 April 2021, 10am BST, rebroadcast on 14 April (10am CTT) and 16 April (10am PST) and will feature online versions of the market-leading physical events: CS International and PIC International PLUS a brand new Silicon Semiconductor International Track!

Thanks to the great diversity of the semiconductor industry, we are always chasing new markets and developing a range of exciting technologies.

2021 is no different. Over the last few months interest in deep-UV LEDs has rocketed, due to its capability to disinfect and sanitise areas and combat Covid-19. We shall consider a roadmap for this device, along with technologies for boosting its output.

We shall also look at microLEDs, a display with many wonderful attributes, identifying processes for handling the mass transfer of tiny emitters that hold the key to commercialisation of this technology.

We shall also discuss electrification of transportation, underpinned by wide bandgap power electronics and supported by blue lasers that are ideal for processing copper.

Additional areas we will cover include the development of GaN ICs, to improve the reach of power electronics; the great strides that have been made with gallium oxide; and a look at new materials, such as cubic GaN and AlScN.

Having attracted 1500 delegates over the last 2 online summits, the 3rd event promises to be even bigger and better – with 3 interactive sessions over 1 day and will once again prove to be a key event across the semiconductor and photonic integrated circuits calendar.

So make sure you sign up today and discover the latest cutting edge developments across the compound semiconductor and integrated photonics value chain.

REGISTER FOR FREE

VIEW SESSIONS

Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}
Live Event