Veeco Has Record Second Quarter 2010
Source/Type: News - Staff reports

Author: CompoundSemi News Staff

August 2, 2010... Veeco Instruments Inc., of Plainview New York reports record revenues and high profits for the second quarter of 2010. The company is currently forecasting 2010 total revenues of over $1 billion. The company generated about $52.4 million in profit for the quarter. This is $67 million more than the same quarter a year ago in which Veeco had a $14.7 loss. John R. Peeler, Veeco’s CEO, commented, “Veeco has once again delivered tremendous results. Second quarter revenue was $253 million, a new record for Veeco, an increase of approximately 250% from last year and 55% sequentially. All three of our businesses, LED & Solar, Data Storage and Metrology, continue to execute extremely well, with sequential improvements in revenue and EBITA. Of particular note, our LED & Solar revenues were $186 million, with approximately $175 million in MOCVD." Peeler noted that Veeco shipped 81 MOCVD systems since the third quarter of last year.

Mr. Peeler said that Veeco received $251 million in MOCVD orders, with customer wins in all regions, including the U.S., Europe, Taiwan, Japan and Korea. He indicated that the company experienced accelerating demand from LED companies expanding facilities in China. In particular, Peeler says that China’s initiative to subsidize the LED industry via seven national ‘industrial parks’ is spurring strong order quoting patterns for Veeco, both from local companies as well as from Korean and Taiwanese customers are partnering with Chinese entities.

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