Veeco Instruments Inc ( (VECO) ) has released its Q4 earnings. Here is a breakdown of the information Veeco Instruments Inc presented to its investors.
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Veeco Instruments Inc., a manufacturer of semiconductor process equipment, specializes in technologies such as laser annealing, ion beam, and chemical vapor deposition, which are crucial in fabricating advanced semiconductor devices. The company reported its financial results for the fourth quarter and fiscal year of 2024, showing growth in revenue but a decline in net income for the quarter compared to the previous year. Despite this, the overall fiscal year results reflect a significant improvement with a net income turnaround compared to the loss recorded in the previous year.
In the fourth quarter of 2024, Veeco achieved a revenue of $182.1 million, up from $173.9 million in the same period last year. However, the GAAP net income decreased to $15.0 million from $21.6 million, while the non-GAAP net income also saw a decline to $24.2 million from $29.8 million year-on-year. For the full fiscal year, the company posted a revenue of $717.3 million, marking an increase from $666.4 million in 2023, and reported a GAAP net income of $73.7 million, a sharp recovery from a loss of $30.4 million reported in the previous fiscal year.
Veeco’s strategic milestones in 2024 included outperforming the semiconductor industry’s wafer fab equipment growth for the fourth consecutive year, with strong contributions from their semiconductor business. Their advanced solutions in Laser Annealing, Ion Beam Deposition, and Advanced Packaging are poised to capitalize on future investments in leading edge technology.
Looking ahead, Veeco’s management anticipates first quarter 2025 revenue to be in the range of $155 million to $175 million. The company expects GAAP diluted earnings per share to range between $0.11 and $0.22, while non-GAAP diluted earnings per share are anticipated to be between $0.26 and $0.36, reflecting their focus on maintaining profitability and investing in growth opportunities.
