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13 February 2007


Veeco’s HB-LED/wireless related revenues grew 42% in 2006

Veeco Instruments Inc of Woodbury, NY, USA has reported fourth-quarter 2006 revenue of $123.1m (up 9% on $112.8m a year ago). Of total sales, 63% was process equipment and 37% was metrology equipment. Net income was $7.6m (up from $2.7m a year ago), which was significantly above Veeco’s guidance.

Bookings were $109.1m (up 6% on a year ago), at the low end of Veeco’s guidance ($115 +/-5%). This was due to a pause in data storage capital equipment purchases (20% of total orders, compared to 37% of sales), partially offset by strength in high-brightness LED/wireless and scientific research (28% and 34%, respectively, compared to 22% and 26% of sales). “We continue to benefit from a diverse market strategy,” says chairman and CEO Edward H. Braun.

Full-year 2006 revenue was $441m (up 8% on 2005’s $410.2m): 61% process equipment and 39% metrology equipment. By geographic region, sales were: North America 33%; Europe 16%; Japan 13%; and Asia-Pacific 38%. Net income was $14.9m, compared to a loss of $0.9m in 2005.

In 2006, revenue grew 10% in data storage and 42% in HB-LED/wireless. “Veeco has a rich pipeline of new products tied to our customers’ technology roadmaps in data storage, HB-LED/wireless, semiconductor and scientific research, which we currently expect will lead to 2007 revenue growth,” says Braun.

However, for first-quarter 2007, Veeco expects revenues of $95-105m (down on Q4/2006) and bookings of $110m +/-5% (flat on Q4).