Slide 1: Safe Harbor
Safe Harbor To the extent that this presentation discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These item
Slide 2: CEO Introduction
CEO Introduction William J. Miller, Ph.D.
Slide 3: Q3 2018 Highlights
Q3 2018 Highlights Bookings growth in Front-End Semiconductor Ending backlog of $276M Profitability above the mid-point of guidance Generated positive cash flow Repurchased 1.8% of outstanding shares 4 Transitioning MOCVD from Commodity LED to Compound Semiconductor Market Q3 Results $100M Bookings
Slide 4: CFO Financial Review
CFO Financial Review Sam Maheshwari
Slide 5: Expense Reduction Update
Expense Reduction Update 6 Carefully Executing OpEx Reduction – Reducing SG&A while Preserving R&D OpEx Reductions Q3 2018 Conference Call © 2018 Veeco Instruments Inc. Amounts may not calculate precisely due to rounding $49M $40M Initiative Status Ultratech synergies ($15M annually) Complete by Q1
Slide 6: Q3 2018 Bookings by End Market and Geography
Q3 2018 Bookings by End Market and Geography 7 Strong Front-End Semiconductor Bookings Growth; Negligible Orders from China Mix by End Market Mix by Geography 11% Advanced Packaging, MEMS & RF Filters 39% Scientific & Industrial 13% LED Lighting, Display & Compound Semi $100M 48% Rest of World 5% Ch
Slide 7: Q3 2018 Revenue by End Market and Geography
Q3 2018 Revenue by End Market and Geography 8 Revenue Mix is Becoming Well Balanced between our Four Markets & Regions Mix by End Market Mix by Geography 19% Advanced Packaging, MEMS & RF Filters 24% Scientific & Industrial 46% LED Lighting, Display & Compound Semi $127M 22% Rest of World 31% China
Slide 8: P&L Highlights
P&L Highlights 9 Sequentially Improved Gross Margin as Expected GAAP Non-GAAP $ millions (except per share amounts) Q2 18 Q3 18 Q2 18 Q3 18 Revenue $157.8 $126.8 $157.8 $126.8 Gross Profit 55.4 46.4 56.5 48.4 Gross Margin 35.1% 36.6% 35.8% 38.2% R&D 24.9 23.5 23.9 22.8 SG&A & Other 24.7 20.2 21.9 17
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights 10 Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation. Generated Cash While Repurchasing $10M in Shares $ millions Q2 18 Q3 18 Cash & Short-Term Investments 261
Slide 10: Q4 2018 Guidance
Q4 2018 Guidance 11 GAAP Non-GAAP Revenue $85M - $105M $85M - $105M Gross Margin 35% - 37% 36% - 38% Net Income (Loss) ($26M)-($19M) ($11M)-($4M) Earnings Per Share ($0.56)-($0.40) ($0.25)-($0.09) Non-GAAP Operating Income (Loss) ($10M)-($3M) Q3 2018 Conference Call © 2018 Veeco Instruments Inc. . A
Slide 11: Summary
Summary 13 Q3 2018 Conference Call © 2018 Veeco Instruments Inc. Cost Reduction Initiated additional actions to reduce costs. Committed to sizing for current run rates Preserving Innovation Continue to develop products in Laser Anneal, MOCVD, Lithography Expect FY 2018 to Slightly Decline from FY 20
Slide 12: Summary
Summary Expect FY 2018 to Slightly Decline from FY 2017
Slide 13: Backup & Reconciliation Tables
Backup & Reconciliation Tables
Slide 14: Note on Reconciliation Tables
Note on Reconciliation Tables These tables include financial measures adjusted for the impact of certain items; these financial measures are therefore not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). These Non-GAAP financial measures exclude items such as: sh
Slide 15: Supplemental Information—GAAP to Non-GAAP Reconciliation
Supplemental Information—GAAP to Non-GAAP Reconciliation Q3 2018 Conference Call © 2018 Veeco Instruments Inc. 17 Amounts may not calculate precisely due to rounding. Prior period results have been recast to reflect the retrospective adoption of ASC 606. US$ millions Q2 18 Q3 18 Net Sales $157.8 $12
Slide 16: Q3 2018 GAAP to Non-GAAP Reconciliation
Q3 2018 GAAP to Non-GAAP Reconciliation 18 Q3 2018 Conference Call © 2018 Veeco Instruments Inc. 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 Sales $126.8 $126.8 Gross Prof
Slide 17: Q4 2018 Guidance GAAP to Non-GAAP Reconciliation
Q4 2018 Guidance GAAP to Non-GAAP Reconciliation 19 Q3 2018 Conference Call © 2018 Veeco Instruments Inc. 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 Sales $85–$105 $85–$1
Slide 18: Thank You
Thank You Veeco Instruments Inc. www.veeco.com Follow Us
Slide 19: Thank You
Thank You Veeco Instruments Inc. Follow Us Lin Ef |