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Monday, February 08, 2010
Veeco Instruments' 1Q View Tops Estimates
By Kathryn Glass
FOXBusiness
Veeco Instruments (VECO) said it expects 2010 first-quarter earnings to range between 50 and 62 cents a share on a GAAP basis, with adjusted earnings between 41 and 50 cents a share on revenue between $150 million and 165 million.
The forecast topped expectations; analysts had projected earnings 38 cents a share in the first quarter on revenue of $143 million, according to a poll by Thomson Reuters.
For the fourth quarter, the company saw profit of $25.1 million or 50 cents a share. Adjusted earnings came in at 41 cents a share, compared to adjusted earnings of 15 cents a share one year ago.
Revenue rose 33% to $146.4 million.
Shares of Veeco instruments rose 64 cents or 2.09% in Monday’s session to close at $31.06 a share. The stock was down 41 cents or 1.31% in trading after hours.
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