Veeco Instruments Inc. reports developments in semiconductor process equipment used in advanced device fabrication and packaging. The company designs, develops and manufactures laser annealing, ion beam, metal organic chemical vapor deposition (MOCVD), single-wafer etch and clean, lithography and related thin-film processing systems.
Recurring news includes customer equipment orders for Spector Ion Beam Deposition, Lumina MOCVD and WaferEtch Wet Processing systems, including applications in indium phosphide lasers, silicon photonics and optical transceivers for data-center communications. Updates also cover quarterly and annual financial results, management conference participation and other material corporate disclosures tied to orders, manufacturing demand and operating performance.
Veeco Instruments Inc. (NASDAQ: VECO) has shipped its first LSA101 Laser Spike Annealing System from a new SEMI-compliant facility in San Jose, California, aimed at enhancing semiconductor manufacturing capabilities. This state-of-the-art facility boasts 70,000 square feet of manufacturing and lab space, nearly doubling previous capacity. The LSA101 system delivers high-temperature processing for semiconductor device scaling, addressing the growing demands of leading chip manufacturers. CEO Bill Miller highlighted this achievement as a significant milestone in the company's growth strategy.
Veeco Instruments (NASDAQ: VECO) announced participation in several upcoming virtual investor events. Notable dates include:
- Benchmark Company Technology Conference on November 17, 2021.
- Wells Fargo TMT Summit on December 1, 2021, featuring a fireside chat at 9:20 AM ET.
- Barclays Conference on December 7, 2021, with a fireside chat at 10:55 AM ET.
- Oppenheimer 5G Summit on December 14, 2021.
- DA Davidson Conference on December 15, 2021.
Investors can schedule one-on-one meetings through respective representatives during these events.
Veeco Instruments has announced a privately negotiated note purchase agreement with Lynrock Lake LP, allowing it to repurchase approximately $111.5 million of its outstanding 2.70% Convertible Senior Notes due in 2023 for around $115.6 million in cash, plus $1.0 million in accrued interest. This strategic move will enable Veeco to retire over 80% of its debt maturity obligation for 2023, thereby de-leveraging its balance sheet and reducing potential dilution. The repurchase is anticipated to close on November 10, 2021.
Veeco Instruments reported robust financial growth for the third quarter of 2021. Revenues reached $150.2 million, up from $112.1 million in Q3 2020. GAAP net income surged to $9.0 million ($0.17 per diluted share) compared to $0.6 million ($0.01 per diluted share) last year. Non-GAAP net income also rose to $20.5 million ($0.40 per diluted share), from $11.0 million ($0.22 per diluted share) in the previous year. Veeco anticipates Q4 2021 revenues between $140 million and $160 million, with GAAP diluted EPS ranging from $0.04 to $0.22.
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Veeco Instruments Inc. (NASDAQ: VECO) will release its third quarter 2021 financial results on November 2, 2021, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET on the same day. Interested parties can join the call by dialing 1-800-437-2398 or via a live webcast on the investor relations section of Veeco's website. The company specializes in manufacturing semiconductor process equipment and holds leading technology positions in its markets.
Paystand appoints Scott Bennion as its first Chief Financial Officer to enhance its financial leadership. Bennion, a SaaS and fintech veteran, previously led Sage Intacct and Recurly, and joins after Paystand's successful $50MM Series C financing. The company's payment volume has surpassed $2B with a workforce growth exceeding 100% in the past year. Paystand aims to revolutionize B2B payments using blockchain technology, offering zero transaction fees and expanding its impact on finance teams across 250,000 businesses.
Veeco Instruments (NASDAQ: VECO) will host a virtual analyst event on September 9, 2021, at 10:00 AM ET. The event aims to present a comprehensive growth strategy, end-market overview, and financial model from its executive leadership team. The session will last around two hours, with a live video webcast available on Veeco's Investor Relations website. Participants are encouraged to pre-register for the event. Following the presentation, a replay will be accessible from the same site.
Veeco Instruments Inc. (NASDAQ: VECO) has appointed Sujeet Chand, Ph.D., to its Board of Directors to enhance board diversity and leadership. Dr. Chand, 63, brings over 30 years of technology leadership, currently serving as Senior VP and CTO of Rockwell Automation. His experience includes key roles at XAP Corporation and Rockwell Scientific Company. CEO William J. Miller emphasized that Dr. Chand's unique background will foster innovation and creativity, benefitting shareholders. Veeco specializes in semiconductor process equipment, enhancing performance and cost efficiency.
Veeco Instruments Inc. (NASDAQ: VECO) announced that its management will present at the Oppenheimer Technology Internet & Communications Conference on August 11, 2021, at 9:55 AM EDT. The presentation will be available via live broadcast and can be accessed on Veeco's investor relations website. A replay will be available for at least two weeks following the event. Additionally, management will hold one-on-one meetings with investors during the conference, requiring interested parties to contact their Oppenheimer representative to arrange a meeting.