Business
Veeco Reports Third Quarter 2022 Financial Results
Third Quarter 2022 Highlights: Revenues of $171.9 million, compared with $150.2 million in the same period last yearGAAP net income of $15.0 million, or $0.27
About this update from Veeco Instruments Inc.
[{"type":"text","content":"Third Quarter 2022 Highlights: Revenues of $171.9 million, compared with $150.2 million in the same period last yearGAAP net income of $15.0 million, or $0.27 per diluted share, compared with $9.0 million, or $0.17 per diluted share in the same period last yearNon-GAAP net income of $26.0 million, or $0.45 per diluted share, compared with $20.5 million, or $0.40 per diluted share in the same period last year PLAINVIEW, N.Y., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its third quarter ended September 30, 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 GAAP Results Q3 '22 Q3 '21Revenue $171.9 $150.2Net income $15.0 $9.0Diluted earnings per share $0.27 $0.17 Non-GAAP Results Q3 '22 Q3 '21Operating income $28.4 $24.3Net income $26.0 $20.5Diluted earnings per share $0.45 $0.40 “With significant contributions from our laser annealing product line, as well as systems for advanced packaging and EUV mask blank production, we achieved another record revenue quarter in our semiconductor business which drove robust year-on-year revenue growth for the company,” commented Bill Miller, Veeco’s Chief Executive Officer. “Despite the challenging current macro environment, we continue to invest in executing our growth strategy, are well positioned with attractive technologies and we are optimistic about expanding our served available market.” Guidance and Outlook The following guidance is provided for Veeco’s fourth quarter 2022: Revenue is expected in the range of $150 million to $170 millionGAAP diluted earnings per share are expected in the range of $0.05 to $0.23Non-GAAP diluted earnings per share are expected in the range of $0.24 to $0.40 Conference Call Information A conference call reviewing these results has been scheduled for today, November 7, 2022 starting at 5:00pm ET. To join the call, dial 1-866-580-3963 (toll free) or 1-786-697-3501 and use password VECOQ32022. Participants may also access a live webcast of the call by visiting the investor relations section of Veeco's website at ir.veeco.com. A re...