Veeco Instruments Inc. (NASDAQ:VECO) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET Company Participants Anthony Pappone - Head of Investor Relations Bill Miller - Chief Executive Officer John Kiernan - Chief Financial Officer Conference Call Participants Mark Miller - Benchmark Ross Cole - Needham & Co. Dave Duley - Steelhead Securities Operator Good day, ladies and gentlemen and welcome to the Veeco Instruments Q3 2024 Earnings Conference Call. At this time, all participants will be in a lis ...

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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorp ...

EXHIBIT 99.1 VEECO REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS Third Quarter 2024 Highlights: ● Revenue of $184.8 million, compared with $177.4 million in the same period last year ● GAAP net income of $22.0 million, or $0.36 per diluted share, compared with $24.6 million, or $0.42 per diluted share in the same period last year ● Non-GAAP net income of $28.3 million, or $0.46 per diluted share, compared with $31.0 million, or $0.53 per diluted share in the same period last year Plainview, N.Y., November 6, ...

PLAINVIEW, N.Y., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that management is scheduled to participate in the following investor events: Oppenheimer 27th Annual Technology, Internet & Communications Conference on Tuesday, August 13, 2024. Veeco management will present virtually at 9:05 AM ET. The presentation will be available via webcast on the events page of ir.veeco.com. 5th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference on Thursday, August 22, ...

PLAINVIEW, N.Y., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that management is scheduled to participate in the following investor events: Oppenheimer 27th Annual Technology, Internet & Communications Conference on Tuesday, August 13, 2024. Veeco management will present virtually at 9:05 AM ET. The presentation will be available via webcast on the events page of ir.veeco.com. 5th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference on Thursday, August 22, ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 totaled $176 million, up 9% year-over-year and 1% sequentially, in line with guidance [4][11] - Non-GAAP operating income was $28 million, with a non-GAAP EPS of $0.42 [4][12] - Gross margin was approximately 44%, at the high end of guidance, while operating expenses were $49 million, above guidance due to R&D investments [12] - Net income was approximately $25 million, with a diluted share count increasing by about two million shares from Q1 [12] Business Line Data and Key Metrics Changes - Semiconductor business accounted for 63% of revenue, with record laser annealing revenue, although it declined 9% from Q1 [11] - Compound semiconductor revenue was $18 million, making up 10% of total revenue, while data storage revenue increased to $34 million, comprising 19% [11] - Scientific and other revenue made up 8% of total revenue [11] Market Data and Key Metrics Changes - Revenue from China was 37%, consistent with the prior quarter, driven by semiconductor customer sales [11] - Revenue from Asia Pacific (excluding China) was 25%, the United States contributed 24%, and EMEA accounted for 14% [11] Company Strategy and Development Direction - The company is focused on expanding its served available market (SAM) in laser annealing from $600 million to over $1 billion, driven by new applications [6] - Investments in core technologies are aimed at supporting long-term growth and addressing high-value problems for Tier 1 customers [6] - The company is also targeting growth in ion beam deposition for front-end semiconductor applications, with a SAM growth target of $350 million [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the semiconductor market, noting strong demand for new annealing capabilities due to scaling challenges [7][10] - The company anticipates continued growth in AI chip manufacturing, with several technologies expected to benefit from this trend [10] - Management tightened the 2024 revenue guidance to $690 to $730 million, reflecting a slight increase in semiconductor expectations but lower contributions from the compound semiconductor space [14] Other Important Information - Cash and short-term investments at the end of the quarter were $305 million, with a slight increase in accounts receivable and inventory [12] - The company expects Q3 revenue between $170 million and $190 million, with gross margin between 43% and 44% [13] Q&A Session Summary Question: High-level growth opportunities and evaluation systems - Management noted a high success rate with evaluation systems and plans to increase the number of evaluations in 2025 while managing resources effectively [15][17] Question: Follow-on business from DRAM customers - Management confirmed ongoing orders from a leading DRAM customer, with revenue typically coming in chunks of $25 million to $35 million over 12 to 18 months [20][23] Question: Data storage revenue expectations - Management indicated that data storage revenue is expected to be up about 5% to 10% year-over-year, with some quarterly lumpiness anticipated [25] Question: Impact of increased CapEx from DRAM customers - Management highlighted exposure to DRAM growth through existing customers and ongoing evaluations with other players in the market [26][27] Question: Expectations for China market - Management expects China to remain about a third of the business, with strong activity from customers despite a decrease in customer deposits [34][35] Question: Q4 expectations and seasonal trends - Management indicated that there are no significant changes in expectations for Q4, with revenue guidance remaining consistent [36][37] Question: Compound semiconductor progress - Management reported progress in silicon carbide and GaN evaluations, with plans to place additional systems in early 2025 [40]

Veeco Instruments (VECO) came out with quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.55%. A quarter ago, it was expected that this precision manufacturing equipment maker would post earnings of $0.41 per share when it actually produced earnings of $0.45, delivering a surprise of 9.76%. Over t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporati ...