Yesterday (27), the US MOCVD equipment manufacturer Veeco announced the results of the fiscal year 2020 Q3 (as of September 30). Revenue and net income have increased year-on-year and ring-on-year, and performance has been stable.
During the reporting period, Veeco achieved revenues of US$112.1 million, an increase of 2.8% from US$109 million in the same period last year.
Calculated in accordance with the American General Accounting Principles (GAAP), net income is 6 million US dollars, or diluted earnings per share of 0.01 US dollars, while the net loss of 11.8 million US dollars in the same period last year, or diluted loss per share of 0.25 US dollars.
According to non-GAAP calculations (Non-GAAP), net income was US$11 million, or diluted earnings per share of US$0.22, while net income in the same period last year was US$2.6 million, or diluted earnings per share of US$0.05.
In the first quarter of 2020, Veeco delivered a good report card. Revenue increased by 5.13% year-on-year to US$104.5 million, and net income (Non-GAAP) was US$10.9 million. However, the impact of the epidemic in the second quarter was more obvious, and the performance of the performance weakened. Although revenue increased slightly to 98.6 million U.S. dollars year-on-year, it declined from the previous quarter, and net income (Non-GAAP) also fell to 5.5 million U.S. dollars. However, the third quarter achieved solid performance again, and the overall situation was better than the first half.
Veeco said that the company’s Q3 profitability improvement is mainly due to ion beam technology for the data storage market. During the reporting period, operating profit increased significantly compared to the same period last year, indicating that the company’s transformation has achieved initial results.
In addition, Veeco revealed that it has launched an evaluation system to support the long-term growth strategy of the semiconductor and compound semiconductor markets, and hopes that these measures can promote growth in 2022 and beyond.
Looking forward to the fourth quarter, Veeco is expected to achieve revenue of US$120-135 million; calculated according to US GAAP, estimated earnings per share is US$0.02-0.17, and calculated according to non-US GAAP, estimated earnings per share is US$0.22-0.37.
With the rapid rise of emerging applications such as Micro LED and UV LED, the market demand for MOCVD continues to grow. Because of this, equipment manufacturers such as Veeco and Aixtron can achieve growth against the trend and continue to maintain steady growth in orders.
Recently, Veeco has won two large orders, respectively from the French Micro LED development and manufacturer Aledia and Osram Opto Semiconductors.
Among them, Aledia ordered Veeco’s 300mm MOCVD equipment for Micro LED production to accelerate the commercialization process; Osram ordered Veeco’s Lumina MOCVD system to produce high-end LED products and promote the development of next-generation advanced photonic devices.
Editor: Yan Zhixiang