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Mar 31, 2020
Veeco Q1 2020 Earnings Report
Reported increased revenue and solid Non-GAAP EPS, while managing through the COVID-19 pandemic.
Key Takeaways
Veeco reported first quarter 2020 financial results with revenues of $104.5 million, a GAAP net loss of $0.6 million, and a Non-GAAP net income of $10.9 million. The company's supply chain, manufacturing, and service operations have been successful in maintaining the ability to source materials, ship products, and provide support for customers with only minor disruptions.
Revenues of $104.5 million, compared with $99.4 million in the same period last year
GAAP net loss of $0.6 million, or $0.01 loss per diluted share
Non-GAAP net income of $10.9 million, or $0.22 per diluted share
Sales were strong in Data Storage market driven by demand in cloud computing
Forward Guidance
Given the level of uncertainty resulting from the COVID-19 pandemic, Veeco is refraining from providing Q2 guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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