Business
Veeco Reports First Quarter 2023 Financial Results
First Quarter 2023 Highlights: Revenues of $153.5 million, compared with $156.4 million in the same period last yearGAAP net income of $8.7 million, or $0.17
About this update from Veeco Instruments Inc.
[{"type":"text","content":"First Quarter 2023 Highlights: Revenues of $153.5 million, compared with $156.4 million in the same period last yearGAAP net income of $8.7 million, or $0.17 per diluted share, compared with $13.3 million, or $0.24 per diluted share in the same period last yearNon-GAAP net income of $16.9 million, or $0.30 per diluted share, compared with $21.7 million, or $0.38 per diluted share in the same period last year PLAINVIEW, N.Y., May 08, 2023 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its first quarter ended March 31, 2023. Results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and are also reported adjusting for certain items (“Non-GAAP”). A reconciliation between GAAP and Non-GAAP operating results is provided at the end of this press release. U.S. Dollars in millions, except per share data 1st QuarterGAAP Results Q1 '23 Q1 '22Revenue $153.5 $156.4 Net income $8.7 $13.3 Diluted earnings per share $0.17 $0.24 1st QuarterNon-GAAP Results Q1 '23 Q1 '22Operating income $20.4 $24.7 Net income $16.9 $21.7 Diluted earnings per share $0.30 $0.38 “We delivered solid first quarter results above the high-end of our guidance range led by our semiconductor business,” commented Bill Miller, Veeco’s Chief Executive Officer. “In particular, our laser annealing business is gaining momentum, as demonstrated by recent orders for additional annealing steps at leading logic customers. We’re also seeing traction within the memory market for advanced nodes, which represents a significant long-term growth opportunity for the Company. “As we look ahead in 2023, we remain committed to investing in the leading edge with differentiated solutions, winning new customers, and new applications positioning Veeco for long term growth.” Guidance and Outlook The following guidance is provided for Veeco’s second quarter 2023: Revenue is expected in the range of $145 million to $165 millionGAAP diluted earnings (loss) per share are expected in the range of $0.11 to $0.21Non-GAAP diluted earnings per share are expected in the range of $0.26 to $0.34 Conference Call Information A conference call reviewing these results has been scheduled for today, May 8, 2023 starting at 5:00pm ET. To join the call, dial 1-877-407-8029 (toll free) or 1-201-689-8029. Participants may also access ...