Veeco reported a decline in revenue and net income for the second quarter of 2025 compared to the same period last year. Despite the overall decrease, the company emphasized strong performance driven by High-Performance Computing and AI technologies, specifically mentioning shipments of wet processing and lithography systems for Advanced Packaging and Ion Beam Deposition systems for EUV mask blanks.
Revenue for Q2 2025 was $166.1 million, a decrease from $175.9 million in Q2 2024.
GAAP net income for Q2 2025 was $11.7 million, or $0.20 per diluted share, down from $14.9 million, or $0.25 per diluted share in Q2 2024.
Non-GAAP net income was $21.5 million, or $0.36 per diluted share, compared to $25.4 million, or $0.42 per diluted share in the prior year.
The company's performance was bolstered by strong demand in High-Performance Computing and AI technologies, particularly in Advanced Packaging and EUV mask blanks.
For the third quarter of 2025, Veeco expects revenue to be between $150 million and $170 million. GAAP diluted earnings per share are projected to be in the range of $0.04 to $0.22, while Non-GAAP diluted earnings per share are expected to be between $0.20 and $0.35.
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