Business
Veeco Reports Fourth Quarter and Fiscal Year 2022 Financial Results
Fourth Quarter 2022 Highlights: Revenues of $153.8 million, compared with $153.0 million in the same period last yearGAAP net income of $128.9 million, or
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Fourth Quarter 2022 Highlights: Revenues of $153.8 million, compared with $153.0 million in the same period last yearGAAP net income of $128.9 million, or $2.00 per diluted share, compared with $8.2 million, or $0.15 per diluted share in the same period last yearNon-GAAP net income of $21.9 million, or $0.38 per diluted share, compared with $22.6 million, or $0.43 per diluted share in the same period last year Fiscal Year 2022 Highlights: Revenues of $646.1 million, compared with $583.3 million in the same period last yearGAAP net income of $166.9 million, or $2.71 per diluted share, compared with $26.0 million, or $0.49 per diluted share in the same period last yearNon-GAAP net income of $89.6 million, or $1.57 per diluted share, compared with $73.6 million, or $1.43 per diluted share in the same period last year PLAINVIEW, N.Y., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 31, 2022. 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 '22 Q4 '21 2022 2021Revenue $153.8 $153.0 $646.1 $583.3Net income $128.9 $8.2 $166.9 $26.0Diluted earnings per share $2.00 $0.15 $2.71 $0.49 4th Quarter Full YearNon-GAAP Results Q4 '22 Q4 '21 2022 2021Operating income $23.8 $24.9 $99.8 $86.6Net income $21.9 $22.6 $89.6 $73.6Diluted earnings per share $0.38 $0.43 $1.57 $1.43 “2022 was another year of growth for Veeco,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “We achieved record revenue with our semiconductor products led by increased traction in laser annealing for both advanced and trailing nodes. We grew our backlog with strong order activity while also strengthening our balance sheet with robust cashflow from operations.” “We enter 2023 cautiously optimistic,” continued Dr. Mr. Miller. “We’re focused on investing R&D in our product roadmaps and integrating our recently acquired silicon carbide epitaxy business. We expect to outperform the wafer fab equipment market with our semiconductor products, grow in the data s...