Friday, May 25, 2018

Veeco Instruments: Veeco's revenue grows 14% in Q1 to $158.6m, driven by MOCVD system shipments to China

For first-quarter 2018, epitaxial deposition and process equipment maker Veeco Instruments Inc of Plainview, NY, USA has reported a seventh consecutive quarter of revenue growth, to $158.6m (well above the midpoint of the $140-165m guidance). This is up 14% on $139.7m last quarter (adjusted from $143.4m after adopting the ASC 606 revenue recognition standard on 1 January) and up 68% on $94.5m a year ago.

“2018 is off to a great start with strong sequential and year-over-year revenue growth,” says chairman & CEO John R. Peeler. “Sales growth in the first quarter was driven primarily by shipments of our lithography systems into the advanced packaging market, and shipments of MOCVD systems for LED applications.”

Of total revenue, the LED Lighting, Display and Compound Semiconductor segment hence comprised 57%, growing to $90m, reflecting strong 2018 opening metal-organic chemical vapor deposition (MOCVD) backlog (delivering systems to five customers in China).

Source: Semiconductor Today LINK

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