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Mar 31, 2023
Veeco Q1 2023 Earnings Report
Reported solid first-quarter results, exceeding the high end of the guidance range, driven by the semiconductor business.
Key Takeaways
Veeco Instruments Inc. reported financial results for the first quarter ended March 31, 2023. The company's revenue was $153.5 million, and the GAAP net income was $8.7 million, or $0.17 per diluted share. The non-GAAP net income was $16.9 million, or $0.30 per diluted share.
Revenues of $153.5 million, compared with $156.4 million in the same period last year
GAAP net income of $8.7 million, or $0.17 per diluted share, compared with $13.3 million, or $0.24 per diluted share in the same period last year
Non-GAAP net income of $16.9 million, or $0.30 per diluted share, compared with $21.7 million, or $0.38 per diluted share in the same period last year
Laser annealing business is gaining momentum, as demonstrated by recent orders for additional annealing steps at leading logic customers.
Forward Guidance
Veeco provided guidance for the second quarter of 2023, with revenue expected in the range of $145 million to $165 million. GAAP diluted earnings (loss) per share are expected in the range of $0.11 to $0.21, and non-GAAP diluted earnings per share are expected in the range of $0.26 to $0.34.
Positive Outlook
- Revenue is expected in the range of $145 million to $165 million
Challenges Ahead
- GAAP diluted earnings (loss) per share are expected in the range of $0.11 to $0.21
- Non-GAAP diluted earnings per share are expected in the range of $0.26 to $0.34
Historical Earnings Impact
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Avg. Return Before/After Earnings
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