Veeco Reports First Quarter 2012 Financial Results

NOTE - This reconciliation is not in accordance with, or an alternative method for, generally accepted accounting principles in the United States, and may be different from similar measures presented by other companies. Management of the Company evaluates performance of its business units based on adjusted EBITA, which is the primary indicator used to plan and forecast future periods. The presentation of this financial measure facilitates meaningful comparison with prior periods, as management of the Company believes adjusted EBITA reports baseline performance and thus provides useful information.

Veeco Instruments Inc. and Subsidiaries
Segment Bookings, Revenues, and Reconciliation
of Operating Income (Loss) to Adjusted EBITA (Loss)
(In thousands)
(Unaudited)
		Three months ended
		March 31,
			2012			2011
LED & Solar
Bookings		$	84,629		$	198,245
Revenues		$	95,574		$	214,698
Operating income		$	15,559		$	79,811
Amortization			863			487
Equity-based compensation			1,006			679
Restructuring			58			-
Adjusted EBITA		$	17,486		$	80,977
Data Storage
Bookings		$	28,769		$	32,614
Revenues		$	44,335		$	39,978
Operating income		$	8,185		$	11,560
Amortization			352			363
Equity-based compensation			411			308
Restructuring			5			-
Adjusted EBITA		$	8,953		$	12,231
Unallocated Corporate
Operating loss		$	(2,798	)	$	(4,163	)
Amortization			-			58
Equity-based compensation			1,713			1,813
Adjusted loss		$	(1,085	)	$	(2,292	)
Total
Bookings		$	113,398		$	230,859
Revenues		$	139,909		$	254,676
Operating income		$	20,946		$	87,208
Amortization			1,215			908
Equity-based compensation			3,130			2,800
Restructuring			63			-
Adjusted EBITA		$	25,354		$	90,916

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