MOCVD equipment factory Veeco first quarter results, revenue increased by 67.83% year on year

On the 7 day, Veeco Instruments Inc. (Instruments Inc.), a major plant of organic metal chemical vapor deposition (MOCVD) equipment, announced the first quarter earnings of 2018. The company realized revenue of $158 million 600 thousand (RMB 1 billion 11 million yuan), up 67.83% over the same period of the previous year.

According to the United States general accounting standards (GAAP), the net loss of 1Q18 expanded by 1087.5% to 15 million 800 thousand US dollars, and the loss per share was 0.34 dollars per share. According to non US general accounting standards (Non-GAAP), the net income of 1Q18 was 9 million 200 thousand US dollars, 119.05% higher than that of 1Q17, and 0.20 dollars per share after dilution.

From the 1Q18 revenue composition, the 1Q18 revenue is mainly from the LED lighting, display and compound semiconductor market, and the company's overall revenue contribution is 57%. In addition, advanced packaging and MEMS & RF market, front end semiconductor market, scientific and industrial market contribute revenue 17%, 6%, 20% 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 15%, 47%, 10% and 28%, respectively. It is worth noting that China's revenue accounts for a relatively large increase in 4Q17 (18%).

John R. Peeler, chairman and chief executive of Veeco, commented: "Veeco got a good start in 2018, and the first quarter revenue grew stronger than the same year on year. In accordance with non US general accounting standards (Non-GAAP), gross interest rate, operating income, net income and earnings per share are beyond the company's expectations. The first quarter sales growth was mainly due to the company's lithography system used in the advanced packaging market and the delivery of the MOCVD system for LED applications.

Looking ahead to the second quarter of 2018, Veeco is expected to achieve revenue of $145 million to $170 million, and the gross interest rate will be maintained at 33%-35%. According to the GAAP, 2Q18 expects a net loss of $1200-2100, and a loss of $0.26-0.45 per share. According to the Non-GAAP, 2Q18 net income is expected to reach $100-1000, 0.01 - 0.20 per share. (compiled: LEDinside Nicole)

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