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]

Core Insights - Veeco Instruments Inc. has shipped its NSA500™ Nanosecond Annealing system to a leading semiconductor company for the production of 2-nanometer gate-all-around logic chips, marking a significant milestone in advanced semiconductor manufacturing [1][4] - The NSA500™ evaluation programs at two other leading-edge customers are progressing well, with high interest from additional logic and memory customers for evaluation of Veeco's systems [2] - The NSA500 system offers advanced capabilities for precise annealing applications, including shallow anneals for 3D devices and low thermal budget anneals, which are crucial for the production of next-generation chips [3][4] Company Overview - Veeco is an innovative manufacturer of semiconductor process equipment, specializing in technologies such as laser annealing, ion beam, and chemical vapor deposition, which are essential for the fabrication of advanced semiconductor devices [5] - The NSA500 system is expected to significantly expand Veeco's served available market, particularly in sectors like artificial intelligence and high-performance computing [4]

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 ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 totaled $185 million, up 4% year-over-year and 5% sequentially, exceeding guidance [6][23] - Non-GAAP operating income was $31 million, with non-GAAP EPS at $0.46 [6][25] - Gross margin was approximately 44%, consistent with guidance [25] - Cash and short-term investments increased to $321 million, a sequential rise of $16 million [26] Business Line Data and Key Metrics Changes - Semiconductor business achieved record revenue, accounting for 67% of total revenue, with a 26% year-over-year increase and 13% sequentially [6][23] - Compound semiconductor revenue declined to $16 million, representing 8% of total revenue [23] - Data storage revenue slightly decreased to $33 million, making up 18% of total revenue [23] - Scientific and other segments contributed 7% to total revenue [23] Market Data and Key Metrics Changes - Revenue from Asia Pacific (excluding China) was 33%, while the U.S. accounted for 32% [24] - Revenue from China decreased to 30% due to a decline in semiconductor sales, with expectations to normalize around 33% for the full year [24] Company Strategy and Development Direction - The company is focused on advanced packaging and wet processing systems, which are key growth drivers for the semiconductor business in 2024 and beyond [7][14] - Investments in core technologies are aimed at enabling industry inflections in advanced logic and memory, with expectations to outperform wafer fab equipment (WFE) growth for four consecutive years [15][36] - The company anticipates expanding its serviceable addressable market (SAM) in laser annealing and ion beam deposition, targeting over $1 billion and $350 million respectively [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth despite near-term headwinds in the data storage business, projecting a reduction in revenue of $60 million to $70 million in 2025 [30][33] - The semiconductor market is expected to grow significantly, driven by AI and high-performance computing, with the company seeing opportunities for revenue growth in 2025 [30][44] - The company is cautious about the Chinese market, expecting a decline in revenue as customers digest capacity, but anticipates a return to normalized rates by late 2025 or 2026 [40][52] Other Important Information - The company has received over $50 million in orders for wet processing systems, primarily driven by AI applications [7][48] - The evaluation program is crucial for penetrating new opportunities in the front-end semiconductor market, with several systems currently under evaluation with Tier-1 customers [20][21] Q&A Session Summary Question: Impact of ASML's forecast on the company - Management indicated that their outlook aligns with ASML's, expecting a similar range of system sales and potential new application wins for revenue growth [38][39] Question: Factors driving the decline in Chinese revenue - The decline is primarily due to moderation in recent customer engagements, with expectations for a return to normalized rates in 2025 [40][41] Question: Guidance for different business segments in 2025 - Management provided qualitative insights, indicating growth in the semiconductor business driven by AI, while expecting a reduction in data storage revenue [42][44] Question: Breakdown of the $50 million orders in wet processing - The orders are primarily from leading foundries and high-bandwidth memory manufacturers, with strong growth anticipated in 2025 [48][49] Question: Expectations for evaluation systems contributing to revenue - Management is optimistic about follow-on orders from evaluation systems in late 2025 and 2026, with several evaluations ongoing [53][56]

Veeco Veeco Instruments | --- | --- | --- | |---------------------------|-------|-------| | | | | | Q3 2024 Financial Results | | | | Conference Call | | | | November 6th, 2024 | | | | | | | 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," "pla ...

Veeco Instruments (VECO) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.22%. A quarter ago, it was expected that this precision manufacturing equipment maker would post earnings of $0.44 per share when it actually produced earnings of $0.42, delivering a surprise of -4.55%.Over the ...