Veeco Reports Third Quarter 2012 Financial Results

Veeco Instruments Inc. (Nasdaq: VECO) announced its financial results for the third quarter ended September 30, 2012. Veeco reports its results on a U.S. generally accepted accounting principles (“GAAP”) basis, and also provides results excluding certain items. Please refer to the attached table for details of the reconciliation between GAAP operating results and Non-GAAP operating results. All results presented herein are for Veeco’s “Continuing Operations.”

GAAP Results* ($M except EPS)								Non-GAAP Results ($M except EPS)
		Q3 ‘12		Q3 ‘11						Q3 ‘12		Q3 ‘11
Revenues		$126.9		$268.0				Net income		$13.4		$53.4
Net income		$9.4		$52.6				EPS (diluted)		$ 0.34		$1.33
EPS (diluted)		$0.24		$1.31

*2012 GAAP results include $2.0M restructuring charge for Company-wide reorganization.

Third Quarter 2012 Results

John R. Peeler, Veeco’s Chairman and Chief Executive Officer, commented, “Veeco’s third quarter revenue was $127 million, and adjusted EBITA and non-GAAP earnings per share were $17 million and $0.34, in line with our guidance. Veeco generated $46 million in cash flow from operations, ending the quarter with $574 million in cash and short term investments.” Third quarter LED & Solar revenues were $94 million: approximately $79 million in MOCVD and $15 million in MBE. Data Storage revenues were $33 million.

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