Business
Veeco Reports Fourth Quarter and Fiscal Year 2023 Financial Results
Fourth Quarter 2023 Highlights: Revenue of $173.9 million, compared with $153.8 million in the same period last yearGAAP net income of $21.6 million, or $0.37
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Fourth Quarter 2023 Highlights: Revenue of $173.9 million, compared with $153.8 million in the same period last yearGAAP net income of $21.6 million, or $0.37 per diluted share, compared with $128.9 million, or $2.00 per diluted share in the same period last yearNon-GAAP net income of $29.8 million, or $0.51 per diluted share, compared with $21.9 million, or $0.38 per diluted share in the same period last year Fiscal Year 2023 Highlights: Revenue of $666.4 million, compared with $646.1 million in the same period last yearGAAP net loss of $30.4 million, or $0.56 loss per diluted share, included a $97.1 million loss related to debt refinancing, compared with net income of $166.9 million, or $2.71 earnings per diluted share in the same period last yearNon-GAAP net income of $98.3 million, or $1.69 per diluted share, compared with $89.6 million, or $1.57 per diluted share in the same period last year PLAINVIEW, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 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 4th Quarter Full YearGAAP Results Q4 '23 Q4 '22 2023 2022Revenue $173.9 $153.8 $666.4 $646.1Net income (loss) $21.6 $128.9 $(30.4) $166.9Diluted earnings (loss) per share $0.37 $2.00 $(0.56) $2.71 4th Quarter Full YearNon-GAAP Results Q4 '23 Q4 '22 2023 2022Operating income $32.1 $23.8 $109.6 $99.8Net income $29.8 $21.9 $98.3 $89.6Diluted earnings per share $0.51 $0.38 $1.69 $1.57 “2023 was a critical year for Veeco, highlighted by our Semiconductor business outperforming WFE growth for the 3rd consecutive year,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “I’m proud to say we successfully grew the business, improved profitability, and most importantly, laid the groundwork for future growth. We achieved a significant milestone by shipping evaluation systems for two important core technologies in Nanosecond Annealing and Ion Beam Deposition. These technologies enable our customers to fabricate devices that enable higher perform...