Veeco Instruments Inc ( (VECO) ) has released its Q3 earnings. Here is a breakdown of the information Veeco Instruments Inc presented to its investors.
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Veeco Instruments Inc., a prominent player in the semiconductor process equipment manufacturing sector, is known for its advanced technologies that aid in the fabrication and packaging of semiconductor devices.
In its third-quarter 2024 financial results, Veeco reported stable performance, with revenue reaching $184.8 million, slightly higher than the same period last year. Despite a small decline in GAAP net income compared to the previous year, the company’s Semiconductor business showed significant growth, a testament to its growing influence in the market.
Key financial metrics indicate that while GAAP net income decreased to $22.0 million from $24.6 million year-over-year, non-GAAP net income was $28.3 million, down from $31.0 million. The Semiconductor segment, however, marked a 26% year-over-year increase in revenue, outpacing industry growth trends.
Looking ahead, Veeco’s management anticipates fourth-quarter revenue to range between $165 million and $185 million, with GAAP diluted earnings per share forecasted between $0.18 and $0.27. The company remains optimistic about its Semiconductor business outperforming industry growth for the fourth consecutive year.
