Business
Veeco Reports Second Quarter 2023 Financial Results With Record Semiconductor Revenue
Second Quarter 2023 Highlights: Revenue of $161.6 million, compared with $164.0 million in the same period last yearGAAP net loss of $85.3 million, or $1.61
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Second Quarter 2023 Highlights: Revenue of $161.6 million, compared with $164.0 million in the same period last yearGAAP net loss of $85.3 million, or $1.61 loss per diluted share, included a $97.1 million loss related to debt refinancing, compared with net income of $9.7 million, or $0.18 earnings per diluted share in the same period last yearNon-GAAP net income of $20.6 million, or $0.36 per diluted share, compared with $20.0 million, or $0.35 per diluted share in the same period last year PLAINVIEW, N.Y., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its second quarter ended June 30, 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 GAAP Results Q2 '23 Q2 '22Revenue $161.6 $164.0 Net income (loss) $(85.3) $9.7 Diluted earnings (loss) per share $(1.61) $0.18 Non-GAAP Results Q2 '23 Q2 '22Operating income $24.3 $23.0 Net income $20.6 $20.0 Diluted earnings per share $0.36 $0.35 “Veeco had another solid quarter with strong top and bottom-line Non-GAAP results driven by record Semiconductor revenue,” commented Bill Miller, Ph.D., Veeco’s Chief Executive Officer. “We continue to execute our Laser Annealing growth strategy in advanced node logic and memory by winning new customers and applications.” “Veeco is uniquely positioned with differentiated technologies in secular growth markets. Looking ahead, we expect opportunities for our technologies to grow as customers continue to adopt our products for their most advanced node devices used for high-performance computing and artificial intelligence.” Guidance and Outlook The following guidance is provided for Veeco’s third quarter 2023: Revenue is expected in the range of $155 million to $175 millionGAAP diluted earnings per share are expected in the range of $0.16 to $0.27Non-GAAP diluted earnings per share are expected in the range of $0.30 to $0.40 Conference Call Information A conference call reviewing these results has been scheduled for today, August 7, 2023 starting at 5:00pm ET. To join the call, dial 1-877-407-8029 (toll-free) or 1-201-689-8029. P...