分组1 - Veeco Instruments reported quarterly earnings of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, but down from $0.53 per share a year ago, representing an earnings surprise of 2.22% [1] - The company achieved revenues of $184.81 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.67% and up from $177.37 million year-over-year [2] - Over the last four quarters, Veeco has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] 分组2 - The stock has underperformed the market, losing about 6.1% since the beginning of the year compared to the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the coming quarter is $0.48 on revenues of $184.5 million, and for the current fiscal year, it is $1.78 on revenues of $714.7 million [7] - The Zacks Industry Rank for Electronics - Manufacturing Machinery is currently in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Viewpoint - Veeco Instruments Inc. is actively engaging with investors through a series of upcoming conferences, showcasing its commitment to transparency and investor relations [1][2]. Group 1: Upcoming Investor Events - Veeco management is scheduled to present at the Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 13, 2024, at 9:05 AM ET, with a virtual presentation available via webcast [1]. - The company will also participate in the 5th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference on August 22, 2024 [1]. - Additional conferences include the Jefferies Semiconductor, IT Hardware & Communications Technology Summit on August 27, 2024, and the Evercore ISI Semiconductor, IT Hardware & Networking Conference on August 28, 2024, both in Chicago, IL [1]. - Veeco will attend Citi's 2024 Global Technology Conference on September 4, 2024, in New York, NY, and Benchmark's 2024 Tech/Media/Telecom Conference on the same day [1]. Group 2: One-on-One Meetings - Veeco management will be available for one-on-one meetings with investors during these conferences, encouraging interested investors to contact their representatives for scheduling [2]. Group 3: Company Overview - Veeco is an innovative manufacturer of semiconductor process equipment, specializing in technologies such as laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean, and lithography [3]. - The company's equipment is designed to optimize performance, yield, and cost of ownership, positioning Veeco as a leader in the markets it serves [3].

Group 1 - Veeco Instruments Inc. is scheduled to participate in multiple investor events, including the Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 13, 2024, and the Citi's 2024 Global Technology Conference on September 4, 2024 [1][2] - Management will present virtually at the Oppenheimer conference at 9:05 AM ET, and the presentation will be available via webcast [1] - One-on-one meetings with investors will be available during these conferences, and interested investors are encouraged to contact their representatives to secure a meeting time [2] Group 2 - Veeco is an innovative manufacturer of semiconductor process equipment, specializing in technologies such as laser annealing, ion beam, chemical vapor deposition (CVD), and metal organic chemical vapor deposition (MOCVD) [3] - The company's equipment is designed to optimize performance, yield, and cost of ownership, holding leading technology positions in the markets it serves [3]

Veeco Instruments (VECO) came out with quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.55%. A quarter ago, it was expected that this precision manufacturing equipment maker would post earnings of $0.41 per share when it actually produced earnings of $0.45, delivering a surprise of 9.76%. Over t ...

Company Overview - Veeco Instruments Inc. (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment, specializing in technologies such as laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean, and lithography [3] Upcoming Financial Results - Veeco plans to release its second quarter 2024 financial results after the market closes on Tuesday, August 6, 2024 [2] - A conference call to review these results will be hosted starting at 5:00 PM ET on the same day [2] Investor Relations - Participants can join the conference call by dialing 1-877-407-8029 (toll free) or 1-201-689-8029, and a live webcast will be available on Veeco's investor relations website [1]

Core Insights - The content primarily serves as a general news and publication platform, providing personal analysis and opinions, as well as third-party content for educational and research purposes [1]. Group 1 - The website does not constitute any recommendation or advice for financial actions, including investments or product purchases [1]. - Users are encouraged to perform their own due diligence and consult competent advisors before making financial decisions [1]. - The information provided may not be real-time or accurate, and prices may be sourced from market makers rather than exchanges [1]. Group 2 - The website includes information on cryptocurrencies, CFDs, and other financial instruments, which are complex and carry a high risk of loss [1]. - Users are advised to carefully consider their understanding of these instruments and their ability to afford potential losses [1]. - The platform encourages thorough research before making any investment decisions, particularly in instruments that are not fully understood [1].

| --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------------------------------------------------------------|---------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | Veeco Instruments | | | | | | | | | Q1 2024 Financial Results | | | | | | | May 7 th | Conference Call , 2024 | | | | | | | | | | | | | | 1 | Q1 2024 Financial Results Conference Call Copyright © 2024 Veeco Instruments Inc. All Rights Reserved. | | | | | | ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 totaled $174 million, up 14% year-over-year and flat sequentially [6][17] - Non-GAAP operating income was $29 million, with non-GAAP EPS at $0.45 [6][17] - Gross margin was approximately 44%, exceeding guidance [17] - Net income was approximately $26 million, with diluted EPS of $0.45 on 60 million shares [17][19] Business Line Data and Key Metrics Changes - Semiconductor revenue reached a record $120 million, up 29% year-over-year and 5% sequentially, comprising 69% of total revenue [17] - Revenue from the compound semiconductor market increased to $21 million, accounting for 12% of total revenue [17] - Data storage revenue contributed 10%, while scientific and other segments made up 9% [17] Market Data and Key Metrics Changes - Revenue from the Asia-Pacific region (excluding China) increased to 42%, up from 34% in the prior quarter [18] - Revenue from China remained at 37%, driven by mature node semiconductor customers [18] - Revenue from the United States was 16%, with EMEA contributing 5% [18] Company Strategy and Development Direction - The company is focused on expanding its served available market (SAM) for laser annealing from $600 million to over $1 billion [9] - Investment in advanced logic and memory has allowed the semiconductor business to outperform wafer fabrication equipment (WFE) growth for three consecutive years [8] - The company is targeting new applications in the compound semiconductor market, particularly in power electronics and photonics [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for EUV lithography and next-generation high NA lithography [8] - The company anticipates initial high-volume manufacturing orders from logic customers in 2025 [12] - Management reiterated the 2024 revenue outlook between $680 million and $740 million, with diluted non-GAAP EPS targeted between $1.60 and $1.90 per share [20] Other Important Information - The company ended the quarter with cash and short-term investments of $297 million, a decline of $9 million sequentially [19] - Cash flow from operations was $9 million, with capital expenditures at $6 million [19] Q&A Session Summary Question: Clarification on the nanosecond anneal product and its relationship with laser anneal - Management clarified that nanosecond anneal (NSA) does not cannibalize laser spike anneal (LSA) but opens unique opportunities for applications like backside power distributions and 3D structures [24][26] Question: HBM opportunity and qualification status - Management confirmed that LSA is now qualified for high bandwidth memory (HBM) applications, expanding from logic chip qualification [28] Question: Backlog and leading-edge vs trailing-edge mix - Management indicated that the current backlog is more weighted towards trailing nodes, but expects a shift towards leading-edge engagements in the second half of 2024 [37] Question: Pricing uplift for NSA compared to LSA - Management expects a pricing uplift of 10% to 15% for NSA due to its additional capabilities [39] Question: Update on compound semiconductor business and GaN power - Management reported a transition from 6-inch to 8-inch wafers, with plans to ship a 300-millimeter evaluation system to a Tier 1 customer [42] Question: Data storage outlook and AI impact - Management expects the data storage business to be flat to up 10% compared to last year, with long-term growth driven by generative AI projected at a 20% CAGR [61][62]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16244 VEECO INSTRUMENTS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 11-2989601 (State or Other Jurisdiction of Incorporat ...

Financial Performance - Revenue for Q1 2024 was $174.5 million, a 13.0% increase from $153.5 million in Q1 2023[2] - GAAP net income for Q1 2024 was $21.9 million, or $0.37 per diluted share, compared to $8.7 million, or $0.17 per diluted share in Q1 2023[3] - Non-GAAP net income for Q1 2024 was $26.4 million, or $0.45 per diluted share, up from $16.9 million, or $0.30 per diluted share in Q1 2023[3] - Operating income for Q1 2024 was $29.4 million, compared to $20.4 million in Q1 2023, reflecting a significant increase[2] - Q1 2023 net sales reached $153.5 million, with a gross profit of $62.0 million and a gross margin of 40.4%[22] - Non-GAAP operating income for Q1 2023 was $20.4 million, reflecting a significant increase from the previous year's $9.8 million[22] - The company reported a net income of $8.7 million under GAAP, which increased to $16.9 million on a non-GAAP basis for Q1 2023[25] Guidance and Projections - Guidance for Q2 2024 projects revenue between $165 million and $185 million, with GAAP diluted EPS expected to be between $0.22 and $0.33[8] - Non-GAAP diluted EPS for Q2 2024 is expected to range from $0.38 to $0.48, reflecting continued growth expectations[8] - For Q2 2024, the company projects net sales of $165 million under GAAP and $185 million on a non-GAAP basis, indicating a growth outlook[28] - The gross margin is expected to improve to 43% under GAAP and 44% on a non-GAAP basis for Q2 2024[28] - Operating income guidance for Q2 2024 is set at $25 million under GAAP and $33 million on a non-GAAP basis, showing a positive trend[31] - The diluted net income per common share is projected to be $0.22 under GAAP and $0.38 on a non-GAAP basis for Q2 2024[30] - The company anticipates continued growth in net income, with a forecast of $20 million under GAAP and $29 million on a non-GAAP basis for Q2 2024[30] Financial Position - Total current assets as of March 31, 2024, were $715.9 million, compared to $706.3 million at the end of 2023[12] - The company’s cash and cash equivalents increased to $174.0 million from $158.8 million at the end of 2023[12] - Total liabilities decreased to $545.8 million from $556.6 million at the end of 2023, indicating improved financial health[12] Operational Highlights - The company received a multi-tool laser annealing order from a leading semiconductor company for their 2 nanometer process, indicating strong demand in advanced technology[3] - Share-based compensation for Q1 2023 amounted to $7.0 million, contributing to the adjustments in non-GAAP financial metrics[26] - Transition expenses related to the San Jose expansion project totaled $780,000 in Q1 2023, impacting overall financial performance[24]