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Jun 30, 2023
Veeco Q2 2023 Earnings Report
Reported financial results with record semiconductor revenue.
Key Takeaways
Veeco reported a solid quarter with strong top and bottom-line Non-GAAP results. The company's performance was driven by record Semiconductor revenue, and they continue to execute their Laser Annealing growth strategy by winning new customers and applications.
Revenue was $161.6 million, compared to $164.0 million in the same period last year.
GAAP net loss was $85.3 million, or $1.61 loss per diluted share, which included a $97.1 million loss related to debt refinancing.
Non-GAAP net income was $20.6 million, or $0.36 per diluted share.
The company continues to execute their Laser Annealing growth strategy in advanced node logic and memory by winning new customers and applications.
Forward Guidance
Veeco provided guidance for the third quarter of 2023.
Positive Outlook
- Revenue is expected in the range of $155 million to $175 million
- GAAP diluted earnings per share are expected in the range of $0.16 to $0.27
- Non-GAAP diluted earnings per share are expected in the range of $0.30 to $0.40
Historical Earnings Impact
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Avg. Return Before/After Earnings
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