Veeco Instruments Inc. · NASDAQ:VECO
Veeco Instruments — Q3 2020 Earnings Presentation
20 slides from Veeco Instruments's earnings presentation, Oct 27, 2020
Slide 1: Q3 2020 Financial Results Conference Call
Veeco (Nasdaq: VECO) October 27, 2020 Q3 2020 Financial Results Conference Call
Slide 2: Safe Harbor
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Safe Harbor 2 This presentation contains “forward-looking statements”, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management’s expe
Slide 3: CEO Overview
CEO Overview William J. Miller, Ph.D.
Slide 4: Q3 2020 Highlights
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 • Top Line driven by strength in Data Storage • Demonstrated consistent profitability • $10M in cashflow from operations • Further significant customer engagement in Data Storage, Front End Semiconductor and Compound Semiconducto
Slide 5: CFO Financial Review
CFO Financial Review John P. Kiernan
Slide 6: Q3 2020 Revenue by Market & Region
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 6 Q3 2020 Revenue by Market & Region 18% 18% 17% 47% Revenue by Market Revenue by Region Scientific & Industrial Front-End Semiconductor LED Lighting, Display & Compound Semiconductor Advanced Packaging, MEMS & RF Filters 42% 36%
Slide 7: Operating Results
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Operating Results 7 $ millions (except per share amounts) GAAP Non-GAAP Q2 20 Q3 20 Q2 20 Q3 20 Revenue $98.6 $112.1 $98.6 $112.1 Gross Profit 41.9 49.1 42.4 49.8 Gross Margin 42.5% 43.8% 43.0% 44.5% Operating Expenses 41.5 42.2
Slide 8: Balance Sheet and Cash Flow Highlights
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Balance Sheet and Cash Flow Highlights 8 $ millions Q2 20 Q3 20 Cash & Short-Term Investments 301 310 Accounts Receivable 67 80 Inventories 137 143 Accounts Payable 26 34 Long-Term Debt 317 321 Cash Flow from Operations 20 10 DSO
Slide 9: Q4 2020 Guidance
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Q4 2020 Guidance 9 GAAP Non-GAAP Revenue $120M - $135M $120M - $135M Gross Margin 42% - 44% 42% - 44% Operating Expenses $43M - $45M $36M - $38M Net Income / (Loss) $1M - $9M $11M - $19M Earnings/(Loss) Per Share $0.02 - $0.17 $0
Slide 10: CEO Market Update
CEO Market Update William J. Miller, Ph.D.
Slide 11: Markets and Technologies
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 11 Markets and Technologies High Performance Computing AI / High Performance Computing Photonics / 5G Cloud / Data Storage *Compound Semi includes LED, Lighting & Display RF – Radio Frequency AI – Artificial Intelligence 5G – Fif
Slide 12: Market Segmentation Update
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 12 Market Segmentation Update Front-End Semiconductor Scientific & Industrial (includes Data Storage) LED Lighting, Display & Compound Semiconductor Advanced Packaging, MEMS & RF Filters Semiconductor (includes Advanced Packaging
Slide 13: 2020 Progress
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Focus product lines Extend core technologies Strengthen leverage & profitability Resilient essential business • Optimize R&D spending • Strengthen foundational businesses • Employees • Service • Supply Chain • Manufacturing • Fro
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Slide 15: Reconciliation Tables
Vee MAKING A MATERIAL DIFFERENCE Reconciliation Tables
Slide 16: Non-GAAP Financial Measures
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 Note on Reconciliation Tables 16 These tables include financial measures adjusted for the impact of certain items; these financial measures are therefore not calculated in accordance with U.S. generally accepted accounting princi
Slide 17: Supplemental Information—Reconciliation
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 17 Supplemental Information—GAAP to Non-GAAP Reconciliation Amounts may not calculate precisely due to rounding. US$ millions Q2 20 Q3 20 Net Sales $98.6 $112.1 GAAP Gross Profit 41.9 49.1 GAAP Gross Margin 42.5% 43.8% Add: Share
Slide 18: Q3 2020 Actual: Reconciliation
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 18 Q3 2020 Actual: GAAP to Non-GAAP Reconciliation Amounts may not calculate precisely due to rounding. Non-GAAP Adjustments In millions, except per share amounts GAAP Share-Based Compensation Amortization Other Non-GAAP Net Sale
Slide 19: Q4 2020 Guidance: Reconciliation
Q3 2020 Financial Results Conference Call | All Rights Reserved. ©2020 19 Q4 2020 Guidance: GAAP to Non-GAAP Reconciliation Amounts may not calculate precisely due to rounding. Non-GAAP Adjustments In millions, except per share amounts GAAP Share-Based Compensation Amortization Other Non-GAAP Net Sa
Slide 20: Thank You
Thank You