Welcome to our dedicated page for Veeco Instruments news (Ticker: VECO), a resource for investors and traders seeking the latest updates and insights on Veeco Instruments stock.
Veeco Instruments Inc. (NASDAQ: VECO) is a prominent player in the process equipment technology sector. As a global leader, Veeco specializes in manufacturing and developing advanced thin-film process equipment. The company's innovative solutions are essential in the production of a wide array of electronic devices including LEDs, flexible OLED displays, power electronics, compound semiconductors, hard drives, MEMS, and wireless chips.
Veeco's product offerings are primarily categorized into markets such as lighting, display, and power electronics; advanced packaging; MEMS and RF; scientific and industrial; and data storage. The lighting, display, and power electronics market is particularly significant, contributing to over half of the company's total revenue.
Recent achievements underscore Veeco's strategic growth and innovation. The company has reported strong financial results, surpassing their guidance for both top and bottom lines. Major milestones include the introduction of the IBD300 System for advanced node applications in the semiconductor market and the shipment of the first Nanosecond Annealing system to a Tier 1 logic customer.
Veeco's CEO, Bill Miller, Ph.D., has highlighted the company’s successful expansion into the semiconductor market, emphasizing the delivery of multi-tool laser annealing orders and significant gains in market share. The company continues to drive innovation in energy efficiency and consumer electronics while enhancing productivity and reducing the cost of ownership for its customers.
Veeco operates a robust global presence with dedicated sales and service organizations across Asia, Europe, and North America. This worldwide network ensures comprehensive support for its diverse customer base.
For more information on Veeco Instruments Inc., including detailed product offerings and service support, please visit www.veeco.com.
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.
Veeco Instruments (NASDAQ: VECO) announced that Aledia has selected its Propel 300 HVM metal organic chemical vapor deposition (MOCVD) system for microLED displays. This choice stems from the system's superior productivity and low defectivity. The Propel system features a SEMI-compliant Equipment Front End Module (EFEM) and is capable of high-volume production. MicroLED technology, expected to surge from 74,000 wafers in 2021 to over 5 million by 2024, aligns with rising demands for advanced display applications. Veeco aims to support innovation in the sector with this advanced tool.
Veeco Instruments (NASDAQ: VECO) has announced its collaboration with A-Pro Semicon, which will utilize Veeco’s Propel™ HVM MOCVD system for developing GaN-based power and 5G RF semiconductor devices. A-Pro is expected to leverage this technology to enhance its position in the growing GaN power device market, projected to reach $1.2 billion by 2027. The Propel system is recognized for its operational efficiency and performance in high-volume production. This partnership reflects Veeco's strong market position and ongoing innovation in semiconductor manufacturing.
Veeco Instruments (NASDAQ: VECO) will announce its Q3 2020 financial results on October 27, 2020, after market close. A conference call will follow at 5:00 PM ET, where the management team will review the results. Interested participants can dial in at 1-800-437-2398 or access the live webcast via Veeco's investor relations page. A replay will be available post-call. This update comes as Veeco maintains its position in the semiconductor equipment sector, which is crucial for advanced device manufacturing.
Veeco Instruments Inc (NASDAQ: VECO) announced a collaboration with IHP Microelectronics in Frankfurt, Germany, selecting Veeco's TurboDisc® metal organic chemical vapor deposition (MOCVD) system to develop advanced silicon-based microelectronic technologies. This partnership highlights the TurboDisc platform's capability in supporting high-performance applications essential for wireless and broadband communications. The system offers faster production ramping, up to 50% quicker than traditional tools, and ensures uniform temperature profiles across wafers.
Veeco Instruments reported a strong second quarter for 2020, with revenues of $98.6 million, up from $97.8 million year-over-year. While the company experienced a GAAP net loss of $8.3 million or $0.17 per diluted share, it achieved a non-GAAP net income of $5.5 million, translating to $0.11 per diluted share. The CEO highlighted operational resilience during the pandemic, strong customer engagements, and a healthy backlog. Looking ahead, Veeco anticipates Q3 revenue between $100 million and $120 million, with non-GAAP EPS guidance of $0.10 to $0.26.
Veeco Instruments Inc. (NASDAQ: VECO) will announce its Q2 2020 financial results on August 3, 2020, following market closure. The company aims to provide insights during a conference call starting at 4:30 PM ET. Interested parties can join by calling 1-800-437-2398 or via a live webcast on Veeco's investor relations page. Veeco is recognized for its innovative semiconductor manufacturing equipment and holds a strong market position across various technologies. Forward-looking statements in the release mention risks and uncertainties that may affect future results.
Veeco Instruments Inc. (NASDAQ: VECO) announced participation in upcoming virtual events aimed at connecting with investors. Management will be available for one-on-one meetings during the Cowen and Company Technology, Media & Telecom Virtual Conference on May 28, 2020, and will present at the Stifel 2020 Virtual Cross Sector Insight Conference on June 9, 2020, at 8:40 AM ET. The presentation will be accessible via Veeco's investor relations page, with a replay available for two weeks. Veeco is a leader in semiconductor process equipment manufacturing.
Veeco Instruments announced a private offering of $125 million in 3.75% Convertible Senior Notes due 2027, exclusively for qualified institutional buyers. The offering includes a 30-day option for initial purchasers to buy an additional $18.75 million. Net proceeds are estimated at approximately $121.9 million, intended for general corporate purposes, with over $81 million allocated to repurchase existing convertible senior notes. The notes feature a conversion rate of 71.5372 shares per $1,000 principal, with interest payable semiannually starting December 1, 2020.
Veeco Instruments Inc. (NASDAQ: VECO) plans to offer $150 million in Convertible Senior Notes due 2027, targeting qualified institutional buyers. An additional $22.5 million may be purchased by initial buyers. Funds will be utilized to cover capped call transactions and repurchase existing 2.70% convertible senior notes due 2023. Conversions of the notes may be settled in cash, stock, or a combination. The notes are senior unsecured obligations, maturing on June 1, 2027, with specific conditions for early redemption.
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