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Jun 30, 2022
Veeco Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022.
Key Takeaways
Veeco Instruments Inc. reported second quarter 2022 financial results with revenues of $164.0 million and GAAP net income of $9.7 million, or $0.18 per diluted share. Non-GAAP net income was $20.0 million, or $0.35 per diluted share.
Revenues of $164.0 million, compared with $146.3 million in the same period last year
GAAP net income of $9.7 million, or $0.18 per diluted share, compared with $6.3 million, or $0.12 per diluted share in the same period last year
Non-GAAP net income of $20.0 million, or $0.35 per diluted share, compared with $17.9 million, or $0.35 per diluted share in the same period last year
Semiconductor business had another record revenue quarter with significant contributions coming from laser annealing and advanced packaging lithography systems
Forward Guidance
The following guidance is provided for Veeco’s third quarter 2022: Revenue is expected in the range of $160 million to $180 million, GAAP diluted earnings per share are expected in the range of $0.14 to $0.30 and Non-GAAP diluted earnings per share are expected in the range of $0.32 to $0.48.
Positive Outlook
- Revenue is expected in the range of $160 million to $180 million
- Gross profit is expected between $64 million and $75 million
- Gross margin between 40% to 42%
- Operating income between $11 million and $20 million
- Net income between $7 million and $17 million
Challenges Ahead
- Operating expenses between $53 million and $55 million
- Income per diluted common share between $0.14 and $0.30
- Share-based compensation is expected to be $6 million
- Amortization is expected to be $3 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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