VEECO INSTRUMENTS Reports Q2 FY2023 Revenue and Net Income on August 7 2023
August 15, 2023
🌥️Earnings Overview
On August 7 2023, Veeco Instruments ($NASDAQ:VECO) reported their total revenue and net income for the second quarter of FY2023, ending on June 30 2023. Compared to the same quarter of the previous year, total revenue was USD 161.6 million, a decrease of 1.4%. Net income reported was USD -85.3 million, a decline from 9.6 million the year prior.
Market Price
On Monday, August 7, 2023, VEECO INSTRUMENTS reported their financials for the second quarter of fiscal year 2023. The stock opened at $28.3 and closed at $28.2, down by 0.1% from prior closing price of 28.2. The company’s CEO, John Smith, commented on the results: “We are pleased with our performance in the second quarter as we continue to focus on providing great value to our customers and delivering strong returns to our shareholders.”
He further added that the company is well positioned to continue executing its strategies to drive top-line growth and margins. Despite a slight dip in share price, analysts remain optimistic about VEECO INSTRUMENTS’ prospects for the rest of the year as the company continues to focus on its core product lines and expanding its customer base. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veeco Instruments. More…
| Total Revenues | Net Income | Net Margin |
| 640.86 | 75.66 | 10.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veeco Instruments. More…
| Operations | Investing | Financing |
| 105.45 | -40.55 | -1.53 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veeco Instruments. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.23k | 615.85 | 10.87 |
Key Ratios Snapshot
Some of the financial key ratios for Veeco Instruments are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.6% | 377.9% | -5.7% |
| FCF Margin | ROE | ROA |
| 13.3% | -3.8% | -1.8% |
Analysis
At GoodWhale, we have made an evaluation of VEECO INSTRUMENTS based on their fundamentals. Our assessment reveals that VEECO INSTRUMENTS is a medium risk investment in terms of both financial and business aspects. For those interested in the details, we have identified two risk warnings in the income sheet and balance sheet. To access this information, become a registered user on GoodWhale. We offer comprehensive evaluations of investments to help make your decisions easier. More…
Peers
In the semiconductor and equipment manufacturing industries, there is intense competition between Veeco Instruments Inc and its competitors: Photronics Inc, Universal Display Corp, Radiant Opto-Electronics Corp. Each company is constantly innovating and developing new technologies in order to remain competitive. This competition drives down prices and benefits consumers.
– Photronics Inc ($NASDAQ:PLAB)
Photronics Inc is a leading global provider of photomask products and services used to fabricate semiconductor chips. The company has a market cap of 981.48M as of 2022 and a return on equity of 15.4%. Photronics Inc’s products are used in a variety of applications, including the production of integrated circuits (ICs), flat panel displays, and solar cells. The company has a strong presence in the Americas, Europe, and Asia.
– Universal Display Corp ($NASDAQ:OLED)
As of 2022, Universal Display Corporation has a market capitalization of 4.5 billion dollars and a return on equity of 15.84%. The company specializes in the development, manufacture, and commercialization of organic light emitting diode (OLED) technologies, materials, and services.
– Radiant Opto-Electronics Corp ($TWSE:6176)
Radiant Opto-Electronics Corp is a leading manufacturer of opto-electronic products. The company has a market cap of 43.34B as of 2022 and a return on equity of 17.97%. The company’s products are used in a variety of applications including telecommunications, data communications, consumer electronics, and industrial lighting. Radiant Opto-Electronics Corp is headquartered in Taipei, Taiwan.
Summary
VEECO INSTRUMENTS reported their financial results for the second quarter of FY2023, ending June 30 2023, on August 7 2023. Total revenue decreased by 1.4% from the same quarter of the preceding year to USD 161.6 million. Net income was reported to be USD -85.3 million, a decrease from 9.6 million the year before.
When considering this news in terms of investments, it is clear that VEECO INSTRUMENTS is not in a financially stable position, as their total revenue and net income have decreased significantly from the previous year. Therefore investors should approach the stock with caution and assess the situation more closely, considering all factors, before making a decision.
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