Equipment Providers Report Financial Results with Quarterly Growth

Semiconductor equipment providers Veeco and K&S (Kulicke & Soffa) announced their financial results respectively. The two companies both reported business decline for the previous quarter.

K&S revealed its fourth fiscal quarter of 2019 which ended September 28, 2019. The Company reported fourth quarter net revenue of US$139.8 million, net income of $6.4 million and non-GAAP net income of $9.3 million. The revenue and gross profit of K&S in fiscal 4Q19 have dropped by 24.3% and 23.8% compared to previous year. However, compared to previous quarter, both numbers grew.

K&S noted that despite broader macro and industry headwinds through fiscal 2019, the company maintained an aggressive pace of R&D investment and made progress in market expansion with its Mini LED and micro LED solution. The company sees demand improvements with newly developed products and growing based of Advanced Packaging solutions, which are believed to lead to an optimistic fiscal 2020 for K&S.

Veeco published a revenue of US$ 109 million and GAAP net loss of US$11.8 million in 3Q19 financial results. The company said that it has exceeded the guidance with the gross margin and returned to profitability on a non-GAAP basis. One reason of the business recovery came from its focus shift in the MOCVD market from commodity LED to higher value photonics.

The company also expect business growth in 4Q19 driven by market growth for EUV mask blanks, front-end semiconductor, 3D sensing and advanced packaging.

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