Veeco Reports Fourth Quarter and Fiscal Year 2024 Financial Results

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]