Veeco Instruments (VECO) Tops Q3 EPS by 3c, Revenues Miss; Offers Q4 EPS/Revenue Below Consensus

Veeco Instruments (NASDAQ: VECO) reported Q3 EPS of $0.11, $0.03 better than the analyst estimate of $0.08. Revenue for the quarter came in at $126.8 million versus the consensus estimate of $135.5 million.

“Third quarter results were mixed with revenue coming in below our guided range due to broader market softness in China across all of our businesses, as well as a US foundry putting its 7nm FinFET program on hold. However, Non-GAAP gross margin was better than guidance and led to Non-GAAP operating income, net income and EPS all coming in at the high end of our guided ranges,” commented William J. Miller, Ph.D., Chief Executive Officer.

“We are pleased with our bookings in the Front-End Semiconductor market which included EUV mask blank deposition systems, and a laser spike anneal system order from a market leader in a leading-edge application. We remain encouraged by our growth prospects in compound semiconductor, advanced packaging and front-end semiconductor,” Dr. Miller concluded.

GUIDANCE:

Veeco Instruments sees Q4 2018 EPS of ($0.25)-($0.09), versus the consensus of $0.14. Veeco Instruments sees Q4 2018 revenue of $85-105 million, versus the consensus of $134.97 million.

For earnings history and earnings-related data on Veeco Instruments (VECO) click here.

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