Financial Data and Key Metrics Changes - Revenue for 2024 totaled $717 million, an 8% increase from the prior year, driven by a 13% growth in the semiconductor business [10][23] - Non-GAAP operating income grew 6% to $116 million, and diluted non-GAAP EPS increased to $1.74 [9][28] - Q4 revenue was $182 million, a 5% year-over-year increase, with non-GAAP operating income of $27 million and non-GAAP EPS of $0.41 [11][34] Business Line Data and Key Metrics Changes - Semiconductor business revenue reached $467 million, up 13% year-over-year, comprising 65% of total revenue [23] - Compound semiconductor revenue declined to $78 million, representing 11% of revenue, while data storage revenue increased by 12% to $99 million, making up 14% of total revenue [24] - Scientific and other revenue was $74 million, a slight decline from the prior year, accounting for 10% of revenue [25] Market Data and Key Metrics Changes - China accounted for 36% of total revenue, up from the prior year, driven by semiconductor sales [25] - The Asia Pacific region (excluding China) made up 32% of revenue, while the United States contributed 23% and EMEA accounted for 9% [25] - Q4 revenue from China increased to 39%, reflecting growth in semiconductor sales [32] Company Strategy and Development Direction - The company is focused on expanding its served available market (SAM) by investing in core technologies to enable industry inflections, particularly in laser annealing and advanced packaging [17][20] - The strategy includes targeting high-growth areas such as AI and high-performance computing, with expectations for AI revenue to grow to over 20% of total revenue in 2025 [38][41] - The company anticipates significant growth in its laser annealing and ion beam deposition technologies, projecting SAM growth in these areas [18][19] Management's Comments on Operating Environment and Future Outlook - Management expects a decline in investment from mature node customers in China, while growth in AI and high-performance computing is driving leading-edge investments [38] - The company is optimistic about the potential for growth in the compound semiconductor market, particularly in solar and photonics, starting in late 2025 [39] - Management highlighted the importance of their enabling technologies for key inflections in the semiconductor industry, positioning the company for long-term growth [41] Other Important Information - The order backlog at the end of the year was approximately $410 million, down $80 million from the prior year, primarily due to the data storage business [26] - Gross margin for the full year was 43.3%, with expectations for a decrease to around 42% in 2025 due to product mix changes [27][126] - The company ended the quarter with cash and short-term investments of $345 million, a sequential increase of $24 million [35] Q&A Session Summary Question: What is the outlook for China revenue in Q1? - Management expects China revenue in the first half of 2025 to be about 25% to 30% of total revenue, down from 36% in 2024 [47] Question: Can you provide more details on advanced packaging growth? - Advanced packaging is expected to double in 2025, driven by wet processing and capacity expansions at leading foundries [50][51] Question: What is the status of the NSA evaluation program? - The NSA evaluation program is progressing well, with customers looking at multiple applications [65] Question: How is the company positioned in the high-bandwidth memory market? - The company is a production tool of record with one DRAM customer and is entering an evaluation agreement with a second customer [76][108] Question: What are the expectations for gross margins in 2025? - Gross margins are expected to be around 42% in 2025, down from 43% in 2024, primarily due to changes in product mix [126][130]

Veeco Instruments Q4 & FY 2024 Financial Results Conference Call February 12th, 2025 Safe Harbor 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 expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intend ...

EXHIBIT 99.1 VEECO REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 FINANCIAL RESULTS Fourth Quarter 2024 Highlights: Fiscal Year 2024 Highlights: Plainview, N.Y., February 12, 2025 -- Veeco Instruments Inc. (Nasdaq: VECO) today announced financial results for its fourth quarter and fiscal year ended December 31, 2024. 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 ...

Core Insights - Veeco Instruments Inc. reported strong financial results for Q4 and fiscal year 2024, with revenue growth and improved profitability compared to the previous year [1][2][4] - The Semiconductor business has outperformed the wafer fabrication equipment (WFE) growth for four consecutive years, indicating a robust market position [1][2] - The company is well-positioned for future growth with its solutions in Laser Annealing, Ion Beam Deposition, and Advanced Packaging [1][2] Financial Performance - Q4 2024 revenue was $182.1 million, up from $173.9 million in Q4 2023, representing a 7.6% increase [2][4] - GAAP net income for Q4 2024 was $15.0 million, or $0.26 per diluted share, compared to $21.6 million, or $0.37 per diluted share in Q4 2023 [2][4] - Non-GAAP net income for Q4 2024 was $24.2 million, or $0.41 per diluted share, down from $29.8 million, or $0.51 per diluted share in Q4 2023 [2][4] - For the full year 2024, revenue reached $717.3 million, an increase from $666.4 million in 2023 [2][4] - GAAP net income for the full year 2024 was $73.7 million, or $1.23 per diluted share, compared to a net loss of $30.4 million, or $0.56 loss per diluted share in 2023 [2][4] - Non-GAAP net income for the full year 2024 was $104.3 million, or $1.74 per diluted share, compared to $98.3 million, or $1.69 per diluted share in 2023 [2][4] Guidance and Outlook - For Q1 2025, Veeco expects revenue in the range of $155 million to $175 million [5] - GAAP diluted earnings per share are anticipated to be between $0.11 and $0.22, while Non-GAAP diluted earnings per share are expected to range from $0.26 to $0.36 [5] Company Overview - Veeco Instruments Inc. is a manufacturer of semiconductor process equipment, focusing on technologies such as laser annealing, ion beam deposition, and chemical vapor deposition [7]

PLAINVIEW, N.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ:VECO) announced today a NSA500™ Nanosecond Annealing system shipment to a leading-edge semiconductor company for high-volume production of 2-nanometer gate-all-around logic chips. The shipment occurred during the fourth quarter of 2024. Equally as important, the company's NSA500™ evaluation programs at two other leading-edge customers are progressing well with multiple applications being considered. Interest from additional lo ...

PLAINVIEW, N.Y., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) plans to release its fourth quarter 2024 financial results after the market closes on Wednesday, February 12, 2025. The company will host a conference call to review these results starting at 5:00 PM ET that day. To join the call, dial 1-877-407-8029 (toll free) or 1-201-689-8029. 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 repl ...

PLAINVIEW, N.Y., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today has updated its financial guidance for the fourth quarter and full year 2024. We expect revenue for the fourth quarter of 2024 between $175 to $185 million, compared to our prior guidance of $165 to $185 million. Full year 2024 revenue is now expected in the range of $710 to $720 million. GAAP diluted earnings per share for the fourth quarter of 2024 is expected to be between $0.09 and $0.28, compared to our prior ...

PLAINVIEW, N.Y., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that management is scheduled to present at the 27th Annual Needham Growth Conference at 1:30 PM ET on Tuesday, January 14, 2025, at the Lotte New York Palace Hotel in New York City, NY. Veeco management will also be available to meet in person with investors during the conference. Interested investors should contact their Needham representative to secure a meeting time. The presentation will be broadcast ...

PLAINVIEW, N.Y., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ:VECO) today announced that PlayNitride, an industry leader in MicroLED technology, has qualified Veeco's Lumina® MOCVD system for production of next-generation MicroLEDs, and also placed an order for two systems for delivery in 2025. PlayNitride's decision followed a successful evaluation of Veeco's Lumina® MOCVD system. "We're pleased to partner with Veeco for production and commercialization of our industry-leading MicroLED ...

PLAINVIEW, N.Y., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that PlayNitride, an industry leader in MicroLED technology, has qualified Veeco’s Lumina® MOCVD system for production of next-generation MicroLEDs, and also placed an order for two systems for delivery in 2025. PlayNitride’s decision followed a successful evaluation of Veeco’s Lumina® MOCVD system. “We’re pleased to partner with Veeco for production and commercialization of our industry-leading MicroLED ...