Business
Veeco Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Fourth Quarter 2024 Highlights: Revenue of $182.1 million, compared with $173.9 million in the same period last yearGAAP net income of $15.0 million, or $0.26
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Fourth Quarter 2024 Highlights: Revenue of $182.1 million, compared with $173.9 million in the same period last yearGAAP net income of $15.0 million, or $0.26 per diluted share, compared with $21.6 million, or $0.37 per diluted share in the same period last yearNon-GAAP net income of $24.2 million, or $0.41 per diluted share, compared with $29.8 million, or $0.51 per diluted share in the same period last year Fiscal Year 2024 Highlights: Revenue of $717.3 million, compared with $666.4 million in the same period last yearGAAP net income of $73.7 million, or $1.23 per diluted share, compared with GAAP net loss of $30.4 million or $0.56 loss per diluted share in the same period last yearNon-GAAP net income of $104.3 million, or $1.74 per diluted share, compared with $98.3 million, or $1.69 per diluted share in the same period last year PLAINVIEW, N.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 31, 2024. 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 '24 Q4 '23 2024 2023 Revenue $182.1 $173.9 $717.3 $666.4 Net income (loss) $15.0 $21.6 $73.7 $(30.4)Diluted earnings (loss) per share $0.26 $0.37 $1.23 $(0.56) 4th Quarter Full YearNon-GAAP Results Q4 '24 Q4 '23 2024 2023Operating income $27.4 $32.1 $116.1 $109.6 Net income $24.2 $29.8 $104.3 $98.3 Diluted earnings per share $0.41 $0.51 $1.74 $1.69 “Veeco had a successful year in 2024, highlighted by our Semiconductor business outperforming WFE growth for the 4th consecutive year,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “We achieved several strategic milestones, grew the top-line and delivered solid profitability, all while continuing to allocate capital toward our largest growth opportunities. Looking ahead, our solutions in Laser Annealing, Ion Beam Deposition, and Advanced Packaging are well-positioned to take advantage of growth in leading edge investment in the coming years.” Guidance and Outlook The following guidance is provided for Veeco’s f...