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Veeco Instruments Inc. announced financial results for its second quarter ended June 30, 2024. Results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and are also reported adjusting for certain items (“Non-GAAP”).
Second Quarter 2024 Highlights:
- Revenue of $175.9 million, compared with $161.6 million in the same period last year
- GAAP net income of $14.9 million, or $0.25 per diluted share, compared with net loss of $85.3 million, or $1.61 loss per diluted share in the same period last year
- Non-GAAP net income of $25.4 million, or $0.42 per diluted share, compared with $20.6 million, or $0.36 per diluted share in the same period last year
“We delivered solid second quarter results in line with our guidance, led by our Semiconductor business,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “Demand for our Laser Annealing systems remains strong, highlighted by record revenue during the quarter. We’re also pleased to have received follow-on LSA orders for a leading logic customer’s gate-all-around process, as well as follow-on business from our Tier 1 DRAM customer to support their planned expansion.”
Guidance and Outlook
The following guidance is provided for Veeco’s third quarter 2024:
- Revenue is expected in the range of $170 million to $190 million
- GAAP diluted earnings per share are expected in the range of $0.21 to $0.31
- Non-GAAP diluted earnings per share are expected in the range of $0.39 to $0.49
Original – Veeco Instruments
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GlobalFoundries Inc. announced preliminary financial results for the second quarter ended June 30, 2024.
Key Second Quarter Financial Highlights
- Revenue of $1.632 billion
- Gross margin of 24.2% and Non-IFRS gross margin of 25.2%
- Operating margin of 9.5% and Non-IFRS operating margin of 13.0%
- Net income of $155 million and Non-IFRS net income of $211 million
- Non-IFRS Adjusted EBITDA of $610 million
- Cash, cash equivalents and marketable securities of $4.1 billion
- Year to date net cash provided by operating activities of $890 million and Non-IFRS adjusted free cash flow of $563 million
“In the second quarter, GF delivered financial results that exceeded the mid-point of the guidance ranges we provided in our May earnings release, thanks to the dedication of our employees across the world. We remain focused on a disciplined capex strategy and strong cash flow, with over $500 million of cumulative Non-IFRS adjusted free cash flow generation in the first half of 2024,” said Dr. Thomas Caulfield, president and CEO of GF. “I am proud of how well our teams are partnering with our customers on new design wins, delivering best in class technologies and executing our long-term plans.”
Recent Business Highlights
- GF announced that it has acquired Tagore Technology’s proprietary and production-proven Power Gallium Nitride (GaN) business, including its design team and IP portfolio. The acquisition expands GF’s power IP portfolio and aligns with GF’s objectives to support our customers in the rapidly expanding GaN power devices sector.
- BAE Systems and GF announced a new collaboration to strengthen the supply of critical semiconductors for national security programs. Together, the companies will collaborate on R&D in a range of areas, including advanced packaging, GaN, silicon photonics and process development.
- GF released its 2024 Corporate Sustainability Report, which highlights the breadth of GF’s efforts and progress in the areas of sustainability, social responsibility and corporate governance. GF strives to innovate and partner with customers to enable new, smarter and more efficient technologies while also minimizing our impact on the environment, driving positive change and creating lasting value.
Original – GlobalFoundries
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Nexperia announced that the ongoing expansion of its NextPower 80 V and 100 V MOSFET portfolio is continuing apace with the release of several new LFPAK devices in industry-standard 5×6 mm and 8×8 mm footprints. These new NextPower 80/100 V MOSFETs are optimized for low (RDSon) and low Qrr, to deliver high efficiency and low spiking in applications including servers, power supplies, fast chargers and USB-PD as well as for a wide range of telecommunications, motor control and other industrial equipment. Designers can choose from a range of 80 V and 100 V devices, with (RDSon) from 1.8 mΩ to 15 mΩ.
Many MOSFET manufacturers focus on achieving high efficiency through low QG(tot) and low QGD, when benchmarking the switching performance of their devices against alternative offerings. However, through extensive research, Nexperia has identified Qrr as being even just as important due to its impact on spiking and, in turn, the amount of electromagnetic interference (EMI) generated during device switching.
By focusing on this parameter, Nexperia has considerably reduced the level of spiking produced by its NextPower 80/100 V MOSFETs and hence also lowered the amount of EMI they produce. This brings significant benefits for end users by reducing the probability of a costly late-stage redesign to include additional external components if their application fails electromagnetic compatibility (EMC) testing.
The on-resistance (RDSon) of these new MOSFETs has been reduced by up to 31% compared to currently available devices. Nexperia also plans to further strengthen its NextPower 80/100 V portfolio later this year with the release of an additional LFPAK88 MOSFET offering RDS(on) down to 1.2 mΩ @ 80 V, as well as introducing the power dense CCPAK1212 to the portfolio. To further support design-in and qualification of these devices, Nexperia offers the availability of award-winning interactive datasheets, providing engineers with comprehensive and user-friendly insights into device behavior.
Original – Nexperia
