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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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