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