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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 (NASDAQ: VECO) will announce its Q3 2020 financial results on October 27, 2020, after market close. A conference call will follow at 5:00 PM ET, where the management team will review the results. Interested participants can dial in at 1-800-437-2398 or access the live webcast via Veeco's investor relations page. A replay will be available post-call. This update comes as Veeco maintains its position in the semiconductor equipment sector, which is crucial for advanced device manufacturing.
Veeco Instruments Inc (NASDAQ: VECO) announced a collaboration with IHP Microelectronics in Frankfurt, Germany, selecting Veeco's TurboDisc® metal organic chemical vapor deposition (MOCVD) system to develop advanced silicon-based microelectronic technologies. This partnership highlights the TurboDisc platform's capability in supporting high-performance applications essential for wireless and broadband communications. The system offers faster production ramping, up to 50% quicker than traditional tools, and ensures uniform temperature profiles across wafers.
Veeco Instruments reported a strong second quarter for 2020, with revenues of $98.6 million, up from $97.8 million year-over-year. While the company experienced a GAAP net loss of $8.3 million or $0.17 per diluted share, it achieved a non-GAAP net income of $5.5 million, translating to $0.11 per diluted share. The CEO highlighted operational resilience during the pandemic, strong customer engagements, and a healthy backlog. Looking ahead, Veeco anticipates Q3 revenue between $100 million and $120 million, with non-GAAP EPS guidance of $0.10 to $0.26.
Veeco Instruments Inc. (NASDAQ: VECO) will announce its Q2 2020 financial results on August 3, 2020, following market closure. The company aims to provide insights during a conference call starting at 4:30 PM ET. Interested parties can join by calling 1-800-437-2398 or via a live webcast on Veeco's investor relations page. Veeco is recognized for its innovative semiconductor manufacturing equipment and holds a strong market position across various technologies. Forward-looking statements in the release mention risks and uncertainties that may affect future results.
Veeco Instruments Inc. (NASDAQ: VECO) announced participation in upcoming virtual events aimed at connecting with investors. Management will be available for one-on-one meetings during the Cowen and Company Technology, Media & Telecom Virtual Conference on May 28, 2020, and will present at the Stifel 2020 Virtual Cross Sector Insight Conference on June 9, 2020, at 8:40 AM ET. The presentation will be accessible via Veeco's investor relations page, with a replay available for two weeks. Veeco is a leader in semiconductor process equipment manufacturing.
Veeco Instruments announced a private offering of $125 million in 3.75% Convertible Senior Notes due 2027, exclusively for qualified institutional buyers. The offering includes a 30-day option for initial purchasers to buy an additional $18.75 million. Net proceeds are estimated at approximately $121.9 million, intended for general corporate purposes, with over $81 million allocated to repurchase existing convertible senior notes. The notes feature a conversion rate of 71.5372 shares per $1,000 principal, with interest payable semiannually starting December 1, 2020.
Veeco Instruments Inc. (NASDAQ: VECO) plans to offer $150 million in Convertible Senior Notes due 2027, targeting qualified institutional buyers. An additional $22.5 million may be purchased by initial buyers. Funds will be utilized to cover capped call transactions and repurchase existing 2.70% convertible senior notes due 2023. Conversions of the notes may be settled in cash, stock, or a combination. The notes are senior unsecured obligations, maturing on June 1, 2027, with specific conditions for early redemption.