Veeco Instruments cites ‘order activity’ in leading-edge, front-end semiconductor segment

Veeco Instruments Inc (NASDAQ:VECO) posted fourth-quarter revenue that beat the estimates of analysts and noted “order activity” in the front-end semiconductor segment.

The company cited Monday “exciting growth opportunities” in compound semiconductor and advanced packaging.

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“We are excited about our future as we see order activity in leading-edge, front-end semiconductor and exciting growth opportunities in compound semiconductor and advanced packaging,” CEO William J. Miller said in a statement.

For the quarter ended December 31, the semiconductor process equipment manufacturer posted revenue of $99 million, compared with the $95.88 million average estimate of analysts. The revenue was down from  $139.7 million a year earlier. The company projected first-quarter revenue of $85 million to $105 million.

The Plainview, New York, company posted a fourth-quarter net loss of $7.5 million, or $0.16 per share, which matched the average estimate of analysts.

Shares dropped $1.69 to $9:30 in Tuesday’s premarket trading.

–This story has been updated to provide the latest share prices–

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors