VEECO’s 3Q18 Revenue Slows Down Due to Tepid Chinese Market

Equipment provider VEECO Instruments announced its financial results for the third quarter of 2018. The results did not reach the company’s guided range because of “broader market softness in China across all of our business,” said VEECO.

VEECO posted a revenue of US$ 126.8 million for 3Q18 with a decrease of 2% YoY. Its GAAP net loss was US$ 9 million or $0.19 loss per diluted share. The company’s consolidated revenue from January to September was US$ 443 million, up by 32% YoY.

(Image: VEECO)

For the fourth quarter of 2018, VEECO expects a revenue range of US$ 85 million to US$ 105 million is expected by VEECO. The company has appointed William J. Miller as the new CEO in October. Commenting on the third quarter results, Miller said, “Third quarter results were mixed with revenue coming in below our guided range due to broader market softness in China across all of our businesses, as well as a US foundry putting its 7nm FinFET program on hold. However, Non-GAAP gross margin was better than guidance and led to Non-GAAP operating income, net income and EPS all coming in at the high end of our guided ranges.”

“We are pleased with our bookings in the Front-End Semiconductor market which included EUV mask blank deposition systems, and a laser spike anneal system order from a market leader in a leading-edge application. We remain encouraged by our growth prospects in compound semiconductor, advanced packaging and front-end semiconductor,” Dr. Miller concluded.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan – 25 January 2023: Nichia, the world’s largest LED manufacturer and inventor of high-brightness blue and white LEDs, is pleased to announce the additions of the NVSW719AC and NVSW219C-V2 to its industry standard ce... READ MORE

Pro9™ LEDs set the new standard for high fidelity (90 & 95 CRI min) LEDs   15% higher efficacy for 90 & 95 CRI LEDs 90 CRI light quality at 80 CRI LPW 95 CRI light quality at 90 CRI LPW Upgrade light quality without sacrific... READ MORE