Business
Veeco Reports Fourth Quarter and Fiscal Year 2020 Financial Results
Fourth Quarter 2020 Highlights: Revenues of $138.9 million, compared with $113.2 million in the same period last yearGAAP net loss of $0.1 million, or $(0.00)
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Fourth Quarter 2020 Highlights: Revenues of $138.9 million, compared with $113.2 million in the same period last yearGAAP net loss of $0.1 million, or $(0.00) per diluted share, compared with a loss of $32.9 million, or $0.69 loss per diluted share in the same period last yearNon-GAAP net income of $15.0 million, or $0.30 per diluted share, compared with $5.4 million, or $0.11 per diluted share in the same period last year PLAINVIEW, N.Y., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 31, 2020. 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 4th Quarter Full YearGAAP Results Q4 '20 Q4 '19 2020 2019 Revenue $138.9 $113.2 $454.2 $419.3 Net income (loss) $(0.1) $(32.9) $(8.4) $(78.7)Diluted earnings (loss) per share $(0.00) $(0.69) $(0.17) $(1.66) 4th Quarter Full YearNon-GAAP Results Q4 '20 Q4 '19 2020 2019 Net income (loss) $15.0 $5.4 $42.3 $(1.3)Operating income (loss) $17.6 $7.4 $52.5 $5.1 Diluted earnings (loss) per share $0.30 $0.11 $0.86 $(0.03) “Our year-over-year financial performance dramatically improved in 2020 and we are proud to conclude this remarkable year of transformation by delivering solid fourth quarter results. These fourth quarter results were driven primarily by system sales in support of semiconductor advanced-node manufacturing, as well as compound semiconductor system sales for 5G RF applications,” commented William J. Miller, Ph.D., Chief Executive Officer. “We enter 2021 with healthy backlog, strong customer engagements and overall positive momentum. We look forward to executing our near-term growth strategy driven in large part by our Laser Annealing, 5G RF and Data Storage applications.” Guidance and Outlook The following guidance is provided for Veeco’s first quarter 2021: Revenue is expected in the range of $115 million to $135 millionGAAP diluted earnings (loss) per share are expected in the range of $(0.09) to $0.09Non-GAAP diluted earnings per share are expected in the range of $0.12 to $0.30 Please refer to the tables at t...