Slide 1: Veeco Q2 2007 Financial Highlights and Outlook
Veeco Q2 2007 Financial Highlights and Outlook July 27, 2007
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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.
Slide 3: Q2 2007 Highlights
Q2 2007 Highlights Revenues were $98.8M, flat sequentially and down 12% versus 2006 revenues Bookings were $112.5M, in line with guidance, and up 6% sequentially but down 21% versus prior year Net loss was $2.6M, ($0.08) per share (GAAP) Veeco’s revenues were below guidance due primarily to the fiel
Slide 4: Q2 Overview
Q2 Overview Q2 Revenue $98.8 million Below guidance of $100-105 million Reflects weak market conditions in Semiconductor Sluggish recovery in Data Storage (although orders improve) Continued growth in HB-LED/Wireless Q2 Orders $112.5 million Up 6% sequentially, down 21% prior year Reflects continued
Slide 5: Diverse Multi-Product, Multi-Market Worldwide Exposure: Revenue
Veeco Has Diverse Multi-ProductMulti-MarketWorldwide Exposure Revenue by Product Equipment down 11% Metrology down 12% Revenue by Market HB-LED/Wireless up 40% Scientific Research up 12% Data Storage down 41% Revenue by Region Europe up 28% Veeco benefits from product, market and geographic diversit
Slide 6: Diverse Multi-Product, Multi-Market Worldwide Exposure: Orders
Veeco Has Diverse Multi-ProductMulti-MarketWorldwide Exposure Orders by Product Equipment down 18% Metrology down 29% Orders by Market Scientific Research up 16% HB-LED/Wireless up 26% Semiconductor down 58% Data Storage down 42% Orders by Region Europe growth 129% Veeco benefits from product, marke
Slide 7: Strong Veeco Balance Sheet
Strong Veeco Balance Sheet December 31, 2006 June 30, 2007 (in millions) $281.8 $282.4 Shareholder’s Equity 209.2 152.0 Long-Term Debt 589.6 527.3 Total Asset 73.5 72.1 Fixed Assets 248.1 199.5 Working Capital $147.0 $108.1 Cash and Investments Net positive impact of recent repurchase and exchange:
Slide 8: Q3 Outlook/Guidance
Q3 Outlook/Guidance Q3 Revenues $92-$97 million – Loss per share ($0.09) – ($0.05) on a non-GAAP basis (excluding amortization of $1.9m, $0.05 restructuring charge and using 35% tax rate) Q3 Decline in profitability primarily due to: New Data Storage products at introductory pricing Low metrology re
Slide 9: Q2 GAAP Reconciliation
Q2 GAAP Reconciliation 2007 2006 2007 2006 Operating (loss) income ($1,010) $5,607 $728 $7,246 Adjustments: Amortization expense 2,368 3,989 6,277 8,004 Restructuring expense 1,445 (1) - 1,445 (1) - Earnings before interest, income taxes and amortization excluding certain items ("EBITA") 2,803 9,596
Slide 10: Q307 Guidance Reconciliation Table
Q307 Guidance Reconciliation Table High End Low End 1,900 500 1,900 500 Amortization expense Restructuring Expense (1,400) (3,700) Earnings before interest, income taxes and amortization, excluding certain items (“EBITA”) 1,000 1,000 Interest expense, net (2,400) (4,700) Earnings excluding certain i