Veeco(US:VECO)2025-05-07 20:15Revenue Performance - Revenue for Q1 2025 was $167.3 million, a decrease of 4.1% from $174.5 million in Q1 2024[2] - The company expects Q2 2025 revenue to be in the range of $135 million to $165 million[9] - The company provided guidance for the three months ending June 30, 2025, projecting net sales between $135 million and $165 million, with expected gross margins of 39% to 41%[31] Net Income and Earnings Per Share - GAAP net income for Q1 2025 was $11.9 million, or $0.20 per diluted share, down from $21.9 million, or $0.37 per diluted share in Q1 2024[3] - Non-GAAP net income for Q1 2025 was $22.2 million, or $0.37 per diluted share, compared to $26.4 million, or $0.45 per diluted share in Q1 2024[3] - The diluted net income per common share was $0.37 under GAAP and $0.45 on a non-GAAP basis for Q1 2024, showing an increase in earnings per share[27] Operating Income - Operating income for Q1 2025 was $24.3 million on a Non-GAAP basis, down from $29.4 million in Q1 2024[2] - For the upcoming quarter, the company anticipates an operating income of $8 million to $22 million on a non-GAAP basis, indicating a positive outlook for profitability[34] - Operating income for the same period was reported at $22.045 million, while non-GAAP operating income was $29.360 million, reflecting a significant adjustment for share-based compensation and other factors[23] Gross Profit Margin - Veeco reported a gross profit margin of 40.9% for Q1 2025, which improved to 41.7% on a Non-GAAP basis[17] - For the three months ended March 31, 2024, net sales were $174.484 million, with a gross profit of $75.419 million, resulting in a gross margin of 43.2%[23] - The company expects to maintain a strong gross profit margin of 40% to 42% in the upcoming quarter, indicating effective cost management strategies[31] Assets and Financial Position - Total assets increased to $1,278.8 million as of March 31, 2025, compared to $1,251.6 million at the end of 2024[13] Awards and Recognition - The company received Intel's 2025 EPIC supplier award, indicating strong performance in the Semiconductor business[2] Adjustments and Incentives - The company reported a total of $5.384 million in non-GAAP adjustments for Q1 2024, primarily due to changes in contingent consideration and non-cash interest expenses[25] - The adjustments for share-based compensation in Q1 2024 amounted to $8.082 million, highlighting the company's investment in employee incentives[29]