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Technology Stocks : Veeco Instruments-Who?

VECO 29.03

-0.7%

Dec 1 3:59 PM EST

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To: Mark Ivan who wrote (2358)	8/7/1999 1:14:00 PM
From: Steve K	Read Replies (2) of 3069

General comments on recent discussion: Nicholas raised an interesting question. Do VECO's billings and bookings correlate with the general semiconductor industry or not? I put the table below together to find out. SEMI numbers are from SEMI.org and correspond to the 3 month rolling average for N. American sales. Note that the 6/99 number is the preliminary number while the 5/99 number is the revised number. All others are final numbers. VECO's numbers are as I presented before (i.e., P.E. = process equipment; values are quarterly numbers). I see little or no correlation between VECO's total bookings or total billings vs. the SEMI numbers. The story is a bit different for the P.E. numbers. I have difficulty seeing a really good correlation between SEMI & VECO bookings, but I found it interesting that VECO's billings peaked about a quarter before SEMI's billings. I think that there are 2 things that can move the stock in the near future: (1) DD sector improves, (2) the market perception of VECO changes from DD-related to semi. equip-related serving the DD industry (which is converting to GMR). The latter of these would be somewhat analogous to the semiconductor industry's move to 300mm. Steve Billings Bookings Veeco... Veeco... Date SEMI All P.E. SEMI All P.E. 1/97 1034 1/97 1136 2/97 998 2/97 1075 3/97 1038 49.3 18.2 3/97 1161 48.6 18.9 4/97 1097 4/97 1228 5/97 1155 5/97 1274 6/97 1221 54.5 22.9 6/97 1334 59.5 27.1 7/97 1301 7/97 1435 8/97 1342 8/97 1432 9/97 1458 55.2 24.0 9/97 1538 59.5 20.9 10/97 1550 10/97 1584 11/97 1634 11/97 1633 12/97 1559 57.8 19.4 12/97 1550 51.0 10.5 1/98 1458 1/98 1364 2/98 1369 2/98 1234 3/98 1370 53.7 15.2 3/98 1123 65.9 21.9 4/98 1416 4/98 1102 5/98 1361 5/98 1107 6/98 1266 51.1 11.9 6/98 933 50.0 13.0 7/98 1112 7/98 718 8/98 1012 8/98 572 9/98 846 50.5 15.6 9/98 481 43.5 14.0 10/98 852 10/98 638 11/98 932 11/98 767 12/98 921 51.5 18.2 12/98 883 62.0 22.8 1/99 890 1/99 997 2/99 845 2/99 1029 3/99 944 56.0 19.5 3/99 1257 65.0 36.2 4/99 1099 4/99 1405 5/99 1179 5/99 1471 6/99 1170 55.2 25.4 6/99 1449 53.6 24.8 all figures in millions

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