+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
News Article

Veeco Q2 revenue grows

Company optimistic about longer term growth prospects since acquisition of Ultratech

Veeco has announced financial results for Q2 ended June 30, 2018. Revenues were $157.8 million, compared with $112.2 million in the same period last year.

GAAP net loss was $237.6 million, or $5.02 loss per diluted share. Non-GAAP net income was $7.2 million, or $0.15 per diluted share.

"Veeco had solid Q2 performance with non-GAAP gross margin, operating income, net income and EPS at the high end of our guided ranges," commented John R. Peeler, chairman and CEO.

"Based on Ultratech's performance relative to our prior projections, we were required to record an intangible asset impairment charge of $252 million for GAAP results. This is a non-cash charge and does not affect our liquidity, day to day operations or Non-GAAP results.

"Going forward, we remain optimistic about the longer term growth prospects of the combined company as we now have a stronger presence in attractive, growing markets and the right technology to succeed. We continue to make progress towards generating synergies through the integration of Ultratech and have initiated steps to rationalise manufacturing capacity by closing one of the Singapore manufacturing sites. We expect to complete this initiative by the end of Q1 2019 and anticipate approximately $2 million in annualised savings," Peeler concluded.

Guidance and Outlook

The following guidance is provided for Veeco's third quarter 2018: Revenue is expected in the range of $130 million to $140 million, GAAP Net Income (loss) is expected in the range of ($12) million to ($7) million and GAAP earnings (loss) per diluted share are expected in the range of ($0.25) to ($0.15).

Non-GAAP operating income is expected in the range of $4 million to $9 million and non-GAAP earnings (loss) per diluted share are expected in the range of $0.03 to $0.13.

Purdue, imec, Indiana announce partnership
Resilinc partners with SEMI on supply chain resilience
NIO and NXP collaborate on 4D imaging radar deployment
Panasonic Industry digitally transforms with Blue Yonder
Global semiconductor sales decrease 8.7%
MIT engineers “grow” atomically thin transistors on top of computer chips
Keysight joins TSMC Open Innovation Platform 3DFabric Alliance
Leti Innovation Days to explore microelectronics’ transformational role
Quantum expansion
indie launches 'breakthrough' 120 GHz radar transceiver
Wafer fab equipment - facing uncertain times?
Renesas expands focus on India
Neuralink selects Takano Wafer Particle Measurement System
Micron reveals committee members
Avoiding unscheduled downtime in with Preventive Vacuum Service
NFC chip market size to surpass US$ 7.6 billion
Fujifilm breaks ground on new €30 million European expansion
Fraunhofer IIS/EAS selects Achronix embedded FPGAs
Siemens announces certifications for TSMC’s latest processes
EU Chips Act triggers further €7.4bn investment
ASE recognised for excellence by Texas Instruments
Atomera signs license agreement with STMicroelectronics
Gartner forecasts worldwide semiconductor revenue to decline 11% in 2023
CHIPS for America outlines vision for the National Semiconductor Technology Center
TSMC showcases new technology developments
Alphawave Semi showcases 3nm connectivity solutions
Greene Tweed to open new facility in Korea
Infineon enables next-generation automotive E/E architectures
Global AFM market to reach $861.5 million
Cepton expands proprietary chipset
Semtech adds two industry veterans to board of directors
Specialty gas expansion
Search the news archive

To close this popup you can press escape or click the close icon.
Register - Step 1

You may choose to subscribe to the Silicon Semiconductor Magazine, the Silicon Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.

Please subscribe me to:


You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: