Surge in LED Demand Boosts Third Quarter Revenue

Veeco Instruments Inc. (Nasdaq:VECO) has reported its financial results for the third quarter ending September 30, 2014, highlighting a revenue of $93 million, a slight decline from the previous year, with a net loss of $14 million. CEO John R. Peeler noted improved bottom-line performance through reduced operating expenses and better gross margins, resulting in an adjusted EBITDA loss of $2 million. The company recorded $107 million in orders, driven primarily by a surge in MOCVD orders for LED and solar applications. Looking ahead, Veeco forecasts fourth-quarter revenues between $100 million and $115 million, with expected losses on both GAAP and non-GAAP bases, while anticipating an overall increase in orders during the second half of 2014.

Surge in LED Demand Boosts Third Quarter Revenue

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