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Mar 31, 2024
Veeco Q1 2024 Earnings Report
Veeco's first quarter 2024 financial results were announced, showing revenue of $174.5 million and GAAP net income of $21.9 million.
Key Takeaways
Veeco reported solid top and bottom line results in Q1 2024, with revenue toward the high-end of guidance, driven by record quarterly Semiconductor revenue. The company received a multi-tool laser annealing order from a leading-edge Semiconductor company for their 2 nanometer gate-all-around process.
Revenue reached $174.5 million, compared to $153.5 million in the same period last year.
GAAP net income was $21.9 million, or $0.37 per diluted share, compared to $8.7 million, or $0.17 per diluted share in the same period last year.
Non-GAAP net income was $26.4 million, or $0.45 per diluted share, compared to $16.9 million, or $0.30 per diluted share in the same period last year.
Veeco received a multi-tool laser annealing order for a 2 nanometer gate-all-around process.
Forward Guidance
Veeco provided guidance for the second quarter of 2024, with revenue expected in the range of $165 million to $185 million.
Positive Outlook
- Revenue is expected in the range of $165 million to $185 million
- GAAP diluted earnings per share are expected in the range of $0.22 to $0.33
- Non-GAAP diluted earnings per share are expected in the range of $0.38 to $0.48
Historical Earnings Impact
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Avg. Return Before/After Earnings
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