Business
Veeco Reports Third Quarter 2021 Financial Results
Third Quarter 2021 Highlights: Revenues of $150.2 million, compared with $112.1 million in the same period last yearGAAP net income of $9.0 million, or $0.17
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Third Quarter 2021 Highlights: Revenues of $150.2 million, compared with $112.1 million in the same period last yearGAAP net income of $9.0 million, or $0.17 per diluted share, compared with $0.6 million, or $0.01 per diluted share in the same period last yearNon-GAAP net income of $20.5 million, or $0.40 per diluted share, compared with $11.0 million, or $0.22 per diluted share in the same period last year PLAINVIEW, N.Y., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its third quarter ended September 30, 2021. 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 Q3 '21 Q3 '20Revenue $150.2 $112.1Net income (loss) $9.0 $0.6Diluted earnings (loss) per share $0.17 $0.01 Non-GAAP Results Q3 '21 Q3 '20Net income (loss) $20.5 $11.0Operating income (loss) $24.3 $14.1Diluted earnings (loss) per share $0.40 $0.22 “Veeco delivered solid year-on-year and sequential growth in the third quarter with revenue and EPS at the high end of our guidance range. Cash flow from operations was the highest in several years demonstrating the effectiveness of our transformation,” commented William J. Miller, Ph.D., Chief Executive Officer. “Record semiconductor sales were the primary driver of our performance with shipments of our Laser Annealing and EUV mask blank systems. “Once again, we are improving our outlook for 2021 and we are excited about the traction in our semiconductor business, which has been a focus of our transformation,” continued Dr. Miller. “We expect to ship the first systems in the coming weeks from our new state-of-the-art San Jose semiconductor equipment manufacturing facility.” Guidance and Outlook The following guidance is provided for Veeco’s fourth quarter 2021: Revenue is expected in the range of $140 million to $160 millionGAAP diluted earnings per share are expected in the range of $0.04 to $0.22Non-GAAP diluted earnings per share are expected in the range of $0.27 to $0.45 Please refer to the tables at the end of this press release for further details. Conference Call Information A conferenc...