Veeco Instruments Raises Annual Revenue Outlook on Semiconductor Growth
The company revised its full-year revenue guidance upward to a range of $780 million to $810 million.
Veeco Instruments (VECO) reported second-quarter revenue of $193.5 million, a 16.5% increase from the $166.1 million recorded in the same period last year.
The equipment maker saw a sequential rise in sales from $158.3 million in the first quarter to $193.5 million in the second. This growth coincided with a significant increase in non-GAAP operating income, which rose to $23.1 million from $8.6 million in the prior quarter.
Growth was driven by the Semiconductor segment, which generated $131 million compared to $109 million in the first quarter. Data Storage and Compound Semi also saw sequential gains, reporting $22 million and $21 million respectively, up from $10 million and $19 million in the previous period. The company also secured $200 million in Advanced Packaging orders during the quarter.
Regional performance shifted as revenue from the United States grew to $59 million from $32 million in the first quarter. Conversely, revenue from the APAC region declined to $70 million from $90 million over the same period.
Non-GAAP gross margin expanded to 39.5% from 36.2% in the first quarter, though it remained below the 42.6% reported in the second quarter of 2024.
Veeco revised its fiscal year 2025 revenue guidance upward to a range of $780 million to $810 million from a previous range of $740 million to $800 million. However, the company lowered its non-GAAP diluted EPS guidance to a range of $1.36 to $1.61 from the previous range of $1.50 to $1.85.
The company reported $1.46 million in merger-related expenses in the second quarter. These costs are associated with the pending Axcelis merger, following $2.01 million in similar expenses recorded in the first quarter.