Veeco Instruments Inc - VECO STOCK NEWS

Veeco Instruments Inc. (NASDAQ: VECO) has announced plans to expand its manufacturing capabilities in San Jose, California, to meet the growing demand for its laser annealing technology. The new SEMI-compliant facility will focus on developing and producing advanced packaging lithography systems for semiconductor applications. With approximately 70,000 square feet dedicated to manufacturing, the facility aims to enhance product development and efficiency. Capital expenditures for this project are estimated between $30 million and $40 million over the next two years, with the lease lasting through 2037.

Veeco Instruments announced its financial results for Q4 2020, showcasing revenues of $138.9 million, up from $113.2 million a year earlier. The company reported a GAAP net loss of $0.1 million ($(0.00) per diluted share) compared to a loss of $32.9 million in Q4 2019. Non-GAAP net income reached $15.0 million ($0.30 per diluted share), up from $5.4 million in the same period last year. For Q1 2021, guidance indicates revenue between $115 million to $135 million and Non-GAAP EPS of $0.12 to $0.30.

Veeco Instruments Inc. (NASDAQ: VECO) will announce its fourth quarter and full year 2020 financial results on February 11, 2021, after market close. A conference call is scheduled for that day at 5:00 PM ET to discuss the results. Interested parties can join by phone or via a live webcast on the investor relations section of Veeco's website. Veeco specializes in semiconductor process equipment and focuses on enhancing performance and cost efficiency for their clients.

Veeco Instruments (NASDAQ: VECO) will present at the Needham Virtual Growth Conference on January 12, 2021, at 5:00 PM ET. The presentation can be accessed live via the investor relations section of Veeco's website. A replay of the webcast will be available for at least two weeks after the event.

Veeco specializes in manufacturing semiconductor process equipment, employing advanced technologies like ion beam and MOCVD to enhance performance and yield in semiconductor device fabrication. For more information, visit www.veeco.com.

Veeco Instruments (NASDAQ: VECO) has been selected by Transphorm, Inc. (OTCQB: TGAN) to provide its Propel™ HVM MOCVD System for high-volume production of GaN-based Epiwafers, aimed at advancing RF and power electronics. The contract, funded by the US DoD Office of Naval Research, highlights Veeco's cost-effective and high-throughput capabilities, crucial for next-gen 5G and power devices. The Propel system's unique features promise enhanced manufacturing efficiency and output consistency, reinforcing Veeco's position in the semiconductor market.

Veeco Instruments has announced a privately negotiated exchange to retire $125 million of its 2.70% Convertible Senior Notes due 2023, issuing $132.5 million of new 3.50% Convertible Senior Exchange Notes due 2025. The New Notes will have a conversion rate reflecting a 58.6% premium over the stock price as of November 11, 2020. The transaction is expected to close around November 17, 2020. The New Notes can be converted into shares or cash, and involve a cash repurchase option upon specific events.

Veeco Instruments (NASDAQ: VECO) will participate in several upcoming virtual investor events. Notable engagements include the Benchmark Company Technology Virtual One-on-One Investor Conference on November 12, 2020, and the Wells Fargo Virtual TMT Summit on December 1, 2020, featuring a fireside chat at 4:00 PM ET. Additionally, Veeco will join the Barclays Conference on December 9, 2020, and the DA Davidson Conference on December 15, 2020. The 12th Annual CEO Summit will take place on December 16, 2020, with invitation-only attendance for accredited investors.

Veeco Instruments has announced the qualification of its Lumina MOCVD System by OSRAM Opto Semiconductors, enhancing production capabilities for high-end LEDs and advanced photonic devices. This recognition highlights Lumina's productivity and performance, built on over 20 years of expertise in MOCVD technology. The system offers excellent uniformity and low defectivity, enabling users to produce high-quality epitaxial layers efficiently. This partnership reinforces Veeco's position in the semiconductor process equipment market.

Veeco Instruments reported a strong third quarter for 2020 with revenues of $112.1 million, rising from $109.0 million year-over-year. The company achieved a GAAP net income of $0.6 million, a significant recovery from a loss of $11.8 million in Q3 2019. Non-GAAP net income saw a notable increase to $11.0 million, compared to $2.6 million the previous year. Looking ahead, Veeco expects Q4 revenues between $120 million and $135 million, with GAAP EPS projected at $0.02 to $0.17 and Non-GAAP EPS at $0.22 to $0.37.