PLAINVIEW, N.Y.--(BUSINESS WIRE)--Nov. 8, 2013-- Veeco Instruments Inc. (Nasdaq:VECO) announced its financial results for the third quarter ended September 30, 2013. 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 ($M except per share data)
|
|
|
|
|
Non-GAAP Results ($M except per share data)
|
|
|
|
|
Q3 ‘13
|
|
|
Q3 ‘12
|
|
|
|
|
|
|
|
Q3 ‘13
|
|
|
Q3 ‘12
|
| Revenues
|
|
|
$99.3
|
|
|
$132.7
|
|
|
|
|
Adjusted EBITA
|
|
|
($5.1)
|
|
|
$14.2
|
| Net (loss) income
|
|
|
($6.0)
|
|
|
$7.7
|
|
|
|
|
Net (loss) income
|
|
|
($3.0)
|
|
|
$11.7
|
| Per share (loss) income
|
|
|
($0.16)
|
|
|
$0.20
|
|
|
|
|
Per share (loss) income
|
|
|
($0.08)
|
|
|
$0.30
|
|
|
Third Quarter 2013 Results
“Veeco’s third quarter 2013 results were impacted by persistent overcapacity and weak business conditions in our MOCVD and Data Storage businesses,” said John R. Peeler, Veeco’s Chairman and Chief Executive Officer. “Third quarter revenue was $99 million, and we lost $5 million on an adjusted EBITA basis and non-GAAP loss per share was ($0.08). In addition to low volumes, our gross margins remain under pressure from intense pricing pressure in MOCVD.” Third quarter LED & Solar revenues were $75 million: $68 million in MOCVD and $7 million in MBE. Data Storage revenues were $24 million.
Peeler continued, “Veeco’s third quarter bookings increased to $92 million, compared to $85 million in the prior quarter. MOCVD bookings increased 28% sequentially to $67 million. We are pleased to be winning the most important deals, but we have not yet seen a recovery in MOCVD demand. Production orders for MBE and Data Storage systems also remain elusive, and bookings in those businesses were weak, at $7 million and $18 million, respectively.”
“While business conditions have remained challenging throughout 2013, we remain positive about long-term trends in LED lighting and our new opportunity in flexible OLED encapsulation for mobile phones,” added Peeler. “Our strong R&D capability, technology leadership position, world class sales and support organization, flexible manufacturing approach and solid balance sheet provide a strong foundation for the future.”
November 11, 2013 Conference Call Information
A conference call reviewing these results has been scheduled for 5:00pm ET on Monday, November 11
th
at 1-888-233-7976 (toll free) or 1-913-981-4900 using passcode 8358383. The call will also be webcast live on the Veeco website at
www.veeco.com
. A replay of the call will be available beginning at 8:00pm ET that evening through midnight on November 25, 2013 at 888-203-1112 or 719-457-0820, using passcode 8358383, or on the Veeco website.
We will post an accompanying slide presentation to our website prior to the beginning of the call.
About Veeco
Veeco’s process equipment solutions enable the manufacture of LEDs, flexible OLEDs, power electronics, hard drives, MEMS and wireless chips. We are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit
www.veeco.com
.
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2012 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases.
Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
|
|
|
Veeco Instruments Inc. and Subsidiaries
|
|
Condensed Consolidated Statements of Operations
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
| |
|
|
|
Three months ended
|
|
|
|
Nine months ended
|
| |
|
|
|
September 30,
|
|
|
|
September 30,
|
| |
|
|
|
|
2013
|
|
|
|
|
2012
|
|
|
|
|
|
2013
|
|
|
|
|
2012
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net sales
|
|
|
|
$
|
99,324
|
|
|
|
$
|
132,715
|
|
|
|
|
$
|
258,540
|
|
|
|
$
|
409,171
|
|
| Cost of sales
|
|
|
|
|
69,016
|
|
|
|
|
82,831
|
|
|
|
|
|
171,040
|
|
|
|
|
232,765
|
|
| Gross profit
|
|
|
|
|
30,308
|
|
|
|
|
49,884
|
|
|
|
|
|
87,500
|
|
|
|
|
176,406
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses (income):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative
|
|
|
|
|
19,650
|
|
|
|
|
13,892
|
|
|
|
|
|
59,077
|
|
|
|
|
54,558
|
|
| Research and development
|
|
|
|
|
18,993
|
|
|
|
|
25,775
|
|
|
|
|
|
60,600
|
|
|
|
|
72,991
|
|
| Amortization
|
|
|
|
|
855
|
|
|
|
|
1,477
|
|
|
|
|
|
2,566
|
|
|
|
|
3,877
|
|
| Restructuring
|
|
|
|
|
1,240
|
|
|
|
|
2,014
|
|
|
|
|
|
1,771
|
|
|
|
|
2,077
|
|
| Other, net
|
|
|
|
|
(493
|
)
|
|
|
|
(737
|
)
|
|
|
|
|
(141
|
)
|
|
|
|
(626
|
)
|
| Total operating expenses
|
|
|
|
|
40,245
|
|
|
|
|
42,421
|
|
|
|
|
|
123,873
|
|
|
|
|
132,877
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating (loss) income
|
|
|
|
|
(9,937
|
)
|
|
|
|
7,463
|
|
|
|
|
|
(36,373
|
)
|
|
|
|
43,529
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net
|
|
|
|
|
(192
|
)
|
|
|
|
(176
|
)
|
|
|
|
|
(620
|
)
|
|
|
|
(708
|
)
|
| (Loss) income from continuing operations before income taxes
|
|
|
|
|
(9,745
|
)
|
|
|
|
7,639
|
|
|
|
|
|
(35,753
|
)
|
|
|
|
44,237
|
|
| Income tax (benefit) provision
|
|
|
|
|
(3,719
|
)
|
|
|
|
(59
|
)
|
|
|
|
|
(15,575
|
)
|
|
|
|
9,066
|
|
| (Loss) income from continuing operations
|
|
|
|
|
(6,026
|
)
|
|
|
|
7,698
|
|
|
|
|
|
(20,178
|
)
|
|
|
|
35,171
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discontinued operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from discontinued operations before income taxes
|
|
|
|
|
-
|
|
|
|
|
5,396
|
|
|
|
|
|
-
|
|
|
|
|
6,534
|
|
| Income tax provision
|
|
|
|
|
-
|
|
|
|
|
1,341
|
|
|
|
|
|
-
|
|
|
|
|
1,722
|
|
| Income from discontinued operations, net of tax
|
|
|
|
|
-
|
|
|
|
|
4,055
|
|
|
|
|
|
-
|
|
|
|
|
4,812
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) income
|
|
|
|
$
|
(6,026
|
)
|
|
|
$
|
11,753
|
|
|
|
|
$
|
(20,178
|
)
|
|
|
$
|
39,983
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Loss) income per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Continuing operations
|
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
0.20
|
|
|
|
|
$
|
(0.52
|
)
|
|
|
$
|
0.92
|
|
| Discontinued operations
|
|
|
|
|
-
|
|
|
|
|
0.10
|
|
|
|
|
|
-
|
|
|
|
|
0.12
|
|
| (Loss) income
|
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
0.30
|
|
|
|
|
$
|
(0.52
|
)
|
|
|
$
|
1.04
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Continuing operations
|
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
0.20
|
|
|
|
|
$
|
(0.52
|
)
|
|
|
$
|
0.90
|
|
| Discontinued operations
|
|
|
|
|
-
|
|
|
|
|
0.10
|
|
|
|
|
|
-
|
|
|
|
|
0.13
|
|
| (Loss) income
|
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
0.30
|
|
|
|
|
$
|
(0.52
|
)
|
|
|
$
|
1.03
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
|
|
|
|
|
38,841
|
|
|
|
|
38,577
|
|
|
|
|
|
38,774
|
|
|
|
|
38,402
|
|
| Diluted
|
|
|
|
|
38,841
|
|
|
|
|
39,169
|
|
|
|
|
|
38,774
|
|
|
|
|
39,006
|
|
|
|
|
|
|
Veeco Instruments Inc. and Subsidiaries
|
|
Condensed Consolidated Balance Sheets
|
|
(In thousands)
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
September 30,
|
|
|
|
December 31,
|
| |
|
|
|
|
2013
|
|
|
|
|
2012
|
| |
|
|
|
(Unaudited)
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
| Current assets:
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents
|
|
|
|
$
|
247,666
|
|
|
|
$
|
384,557
|
| Short-term investments
|
|
|
|
|
322,488
|
|
|
|
|
192,234
|
| Restricted cash
|
|
|
|
|
2,850
|
|
|
|
|
2,017
|
| Accounts receivable, net
|
|
|
|
|
37,769
|
|
|
|
|
63,169
|
| Inventories, net
|
|
|
|
|
57,585
|
|
|
|
|
59,807
|
| Prepaid expenses and other current assets
|
|
|
|
|
36,864
|
|
|
|
|
32,155
|
| Deferred income taxes, current
|
|
|
|
|
10,545
|
|
|
|
|
10,545
|
| Total current assets
|
|
|
|
|
715,767
|
|
|
|
|
744,484
|
| |
|
|
|
|
|
|
|
|
| Property, plant and equipment at cost, net
|
|
|
|
|
95,698
|
|
|
|
|
98,302
|
| Goodwill
|
|
|
|
|
55,828
|
|
|
|
|
55,828
|
| Deferred income taxes
|
|
|
|
|
6,072
|
|
|
|
|
935
|
| Intangible assets, net
|
|
|
|
|
18,407
|
|
|
|
|
20,974
|
| Other assets, net
|
|
|
|
|
17,341
|
|
|
|
|
16,781
|
| Total assets
|
|
|
|
$
|
909,113
|
|
|
|
$
|
937,304
|
| |
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
| Current liabilities:
|
|
|
|
|
|
|
|
|
| Accounts payable
|
|
|
|
$
|
28,334
|
|
|
|
$
|
26,087
|
| Accrued expenses and other current liabilities
|
|
|
|
|
60,283
|
|
|
|
|
74,260
|
| Deferred revenue
|
|
|
|
|
8,032
|
|
|
|
|
9,380
|
| Income taxes payable
|
|
|
|
|
974
|
|
|
|
|
2,292
|
| Current portion of long-term debt
|
|
|
|
|
285
|
|
|
|
|
268
|
| Total current liabilities
|
|
|
|
|
97,908
|
|
|
|
|
112,287
|
| |
|
|
|
|
|
|
|
|
| Deferred income taxes
|
|
|
|
|
7,110
|
|
|
|
|
7,137
|
| Long-term debt
|
|
|
|
|
1,922
|
|
|
|
|
2,138
|
| Other liabilities
|
|
|
|
|
4,894
|
|
|
|
|
4,530
|
| Total liabilities
|
|
|
|
|
111,834
|
|
|
|
|
126,092
|
| |
|
|
|
|
|
|
|
|
| Equity
|
|
|
|
|
797,279
|
|
|
|
|
811,212
|
| |
|
|
|
|
|
|
|
|
| Total liabilities and equity
|
|
|
|
$
|
909,113
|
|
|
|
$
|
937,304
|
|
|
|
|
|
Veeco Instruments Inc. and Subsidiaries
|
|
Reconciliation of GAAP to non-GAAP results
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
| |
|
|
|
Three months ended
|
|
|
|
|
Nine months ended
|
|
| |
|
|
|
September 30,
|
|
|
|
|
September 30,
|
|
| |
|
|
|
|
2013
|
|
|
|
|
|
2012
|
|
|
|
|
|
|
2013
|
|
|
|
|
|
2012
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating (loss) income
|
|
|
|
$
|
(9,937
|
)
|
|
|
|
$
|
7,463
|
|
|
|
|
|
$
|
(36,373
|
)
|
|
|
|
$
|
43,529
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-GAAP adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization
|
|
|
|
|
855
|
|
|
|
|
|
1,477
|
|
|
|
|
|
|
2,566
|
|
|
|
|
|
3,877
|
|
|
| Equity-based compensation
|
|
|
|
|
2,763
|
|
|
|
|
|
3,265
|
|
|
|
|
|
|
9,055
|
|
|
|
|
|
10,409
|
|
|
| Restructuring
|
|
|
|
|
1,240
|
|
|
|
|
|
2,014
|
|
|
|
|
|
|
1,771
|
|
|
|
|
|
2,077
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) earnings from continuing operations before interest, income taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and amortization excluding certain items ("Adjusted EBITA")
|
|
|
|
$
|
(5,079
|
)
|
|
|
|
$
|
14,219
|
|
|
|
|
|
$
|
(22,981
|
)
|
|
|
|
$
|
59,892
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Net (Loss) Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) income from continuing operations (GAAP basis)
|
|
|
|
$
|
(6,026
|
)
|
|
|
|
$
|
7,698
|
|
|
|
|
|
$
|
(20,178
|
)
|
|
|
|
$
|
35,171
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-GAAP adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization
|
|
|
|
|
855
|
|
|
|
|
|
1,477
|
|
|
|
|
|
|
2,566
|
|
|
|
|
|
3,877
|
|
|
| Equity-based compensation
|
|
|
|
|
2,763
|
|
|
|
|
|
3,265
|
|
|
|
|
|
|
9,055
|
|
|
|
|
|
10,409
|
|
|
| Restructuring
|
|
|
|
|
1,240
|
|
|
|
|
|
2,014
|
|
|
|
|
|
|
1,771
|
|
|
|
|
|
2,077
|
|
|
| Income tax effect of non-GAAP adjustments
|
|
|
|
|
(1,823
|
)
|
(1
|
)
|
|
|
|
(2,772
|
)
|
(1
|
)
|
|
|
|
|
(4,936
|
)
|
(1
|
)
|
|
|
|
(6,400
|
)
|
(1
|
)
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-GAAP net (loss) income
|
|
|
|
$
|
(2,991
|
)
|
|
|
|
$
|
11,682
|
|
|
|
|
|
$
|
(11,722
|
)
|
|
|
|
$
|
45,134
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP (loss) earnings per diluted share excluding certain items
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
("Non-GAAP EPS")
|
|
|
|
$
|
(0.08
|
)
|
|
|
|
$
|
0.30
|
|
|
|
|
|
$
|
(0.30
|
)
|
|
|
|
$
|
1.16
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted weighted average shares outstanding
|
|
|
|
|
38,841
|
|
|
|
|
|
39,169
|
|
|
|
|
|
|
38,774
|
|
|
|
|
|
39,006
|
|
|
|
|
|
|
|
(1) The Company utilized the with and without method to determine the income tax effect of non-GAAP adjustments.
|
|
|
|
|
|
NOTE - This reconciliation is not in accordance with, or an alternative method for, generally accepted accounting principles in the United States ("GAAP"), 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 (Loss) Income to Adjusted (Loss) EBITA
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
| |
|
|
|
Three months ended
|
|
|
|
Nine months ended
|
| |
|
|
|
September 30,
|
|
|
|
September 30,
|
|
|
|
|
|
|
2013
|
|
|
|
|
2012
|
|
|
|
|
|
2013
|
|
|
|
|
2012
|
|
|
LED & Solar
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bookings
|
|
|
|
$
|
73,517
|
|
|
|
$
|
67,842
|
|
|
|
|
$
|
174,321
|
|
|
|
$
|
229,766
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues
|
|
|
|
$
|
75,001
|
|
|
|
$
|
98,905
|
|
|
|
|
$
|
193,241
|
|
|
|
$
|
281,257
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating (loss) income
|
|
|
|
$
|
(4,063
|
)
|
|
|
$
|
5,733
|
|
|
|
|
$
|
(15,674
|
)
|
|
|
$
|
28,922
|
|
| Amortization
|
|
|
|
|
531
|
|
|
|
|
1,154
|
|
|
|
|
|
1,595
|
|
|
|
|
2,878
|
|
| Equity-based compensation
|
|
|
|
|
1,016
|
|
|
|
|
1,914
|
|
|
|
|
|
3,042
|
|
|
|
|
4,016
|
|
| Restructuring
|
|
|
|
|
793
|
|
|
|
|
660
|
|
|
|
|
|
1,216
|
|
|
|
|
718
|
|
| Adjusted (loss) EBITA
|
|
|
|
$
|
(1,723
|
)
|
|
|
$
|
9,461
|
|
|
|
|
$
|
(9,821
|
)
|
|
|
$
|
36,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Data Storage
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bookings
|
|
|
|
$
|
17,966
|
|
|
|
$
|
15,850
|
|
|
|
|
$
|
72,340
|
|
|
|
$
|
69,858
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues
|
|
|
|
$
|
24,323
|
|
|
|
$
|
33,810
|
|
|
|
|
$
|
65,299
|
|
|
|
$
|
127,914
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating income (loss)
|
|
|
|
$
|
925
|
|
|
|
$
|
1,896
|
|
|
|
|
$
|
(136
|
)
|
|
|
$
|
21,453
|
|
| Amortization
|
|
|
|
|
324
|
|
|
|
|
323
|
|
|
|
|
|
971
|
|
|
|
|
999
|
|
| Equity-based compensation
|
|
|
|
|
439
|
|
|
|
|
763
|
|
|
|
|
|
1,057
|
|
|
|
|
1,614
|
|
|
Restructuring
|
|
|
|
|
447
|
|
|
|
|
1,296
|
|
|
|
|
|
497
|
|
|
|
|
1,301
|
|
| Adjusted EBITA
|
|
|
|
$
|
2,135
|
|
|
|
$
|
4,278
|
|
|
|
|
$
|
2,389
|
|
|
|
$
|
25,367
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unallocated Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating loss
|
|
|
|
$
|
(6,607
|
)
|
|
|
$
|
10
|
|
|
|
|
$
|
(19,943
|
)
|
|
|
$
|
(6,138
|
)
|
| Interest income, net
|
|
|
|
|
(192
|
)
|
|
|
$
|
(176
|
)
|
|
|
|
|
(620
|
)
|
|
|
$
|
(708
|
)
|
| Equity-based compensation
|
|
|
|
|
1,308
|
|
|
|
|
588
|
|
|
|
|
|
4,956
|
|
|
|
|
4,779
|
|
| Restructuring
|
|
|
|
|
-
|
|
|
|
|
58
|
|
|
|
|
|
58
|
|
|
|
|
58
|
|
| Adjusted (loss) EBITA
|
|
|
|
$
|
(5,491
|
)
|
|
|
$
|
480
|
|
|
|
|
$
|
(15,549
|
)
|
|
|
$
|
(2,009
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bookings
|
|
|
|
$
|
91,483
|
|
|
|
$
|
83,692
|
|
|
|
|
$
|
246,661
|
|
|
|
$
|
299,624
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues
|
|
|
|
$
|
99,324
|
|
|
|
$
|
132,715
|
|
|
|
|
$
|
258,540
|
|
|
|
$
|
409,171
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating (loss) income
|
|
|
|
$
|
(9,745
|
)
|
|
|
$
|
7,639
|
|
|
|
|
$
|
(35,753
|
)
|
|
|
$
|
44,237
|
|
| Interest income, net
|
|
|
|
|
(192
|
)
|
|
|
|
(176
|
)
|
|
|
|
|
(620
|
)
|
|
|
|
(708
|
)
|
| Amortization
|
|
|
|
|
855
|
|
|
|
|
1,477
|
|
|
|
|
|
2,566
|
|
|
|
|
3,877
|
|
| Equity-based compensation
|
|
|
|
|
2,763
|
|
|
|
|
3,265
|
|
|
|
|
|
9,055
|
|
|
|
|
10,409
|
|
| Restructuring
|
|
|
|
|
1,240
|
|
|
|
|
2,014
|
|
|
|
|
|
1,771
|
|
|
|
|
2,077
|
|
| Adjusted (loss) EBITA
|
|
|
|
$
|
(5,079
|
)
|
|
|
$
|
14,219
|
|
|
|
|
$
|
(22,981
|
)
|
|
|
$
|
59,892
|
|
|
|
|
|
|
|
Source: Veeco Instruments Inc.
Veeco Instruments Inc.
Financial:
Debra Wasser, 516-677-0200 x1472
SVP Investor Relations & Corporate Communications
or
Media:
Jeffrey Pina, 516-677-0200 x1222
Senior Director Marcom