MOCVD equipment company Veeco announced two quarter results, revenue of about 1 billion 79 million yuan

On the 2 day, the Veeco Instruments Inc. (Instruments Inc.), a major plant of organic metal chemical vapor deposition (MOCVD) equipment, announced the results of the second quarter of 2018. 2Q18, the company achieved $157 million 800 thousand in revenue (RMB 1 billion 79 million yuan), up 40.64% from the same period ($112 million 200 thousand) in the same period of last year.

In the second quarter of 2018, the net lost $237 million 600 thousand in the second quarter of the United States, compared with a net loss of $20 million 800 thousand in the same period last year, and a loss of $5.02 per share after the dilution. According to non US general accounting standards (Non-GAAP), the net income of 2Q18 was 7 million 200 thousand US dollars, 80% higher than that of 2Q17, and 0.15 dollars per share after dilution.

Image source: Veeco financial report

In terms of the composition of the revenue, 2Q18's revenue is mainly from the LED lighting, display and compound semiconductor market, and the company's overall revenue contribution is 55%. In addition, advanced packaging and MEMS & RF filter market, front end semiconductor market, scientific and industrial market contribute revenue of 16%, 12%, 17% respectively. In the region of the United States, China, the EMEA region (Europe, the Middle East and Africa), and other regions, the revenue accounted for 21%, 45%, 16% and 18%, respectively.

Image source: Veeco financial report

John R. Peeler, chairman and chief executive of Veeco, said: "Veeco was robust in the second quarter, and the gross profit, revenue, net income and earnings per share under non US general accounting standards were in line with the company's expectations. Through the integration of Ultratech, we have continued to make progress in achieving synergies and rationalize manufacturing capabilities by closing one of the Singapore production bases. We expect to complete the plan at the end of the first quarter of 2019 and expect to save about $2 million a year. "

Looking ahead to the third quarter of 2018, Veeco is expected to achieve revenue of $130 million to $140 million. According to the GAAP, 2Q18 expects a net loss of $700-1200, and the gross interest rate will be maintained at 35%-37% and a loss of $0.15-0.25 per share. According to the Non-GAAP, the net income of 2Q18 is expected to reach $100-600, and the gross interest rate will be maintained at 36%-38%, and the earnings per share will be $0.03 - 0.13. (compiled: LEDinside Nicole)

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