Veeco Instruments-Who? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Veeco Instruments-Who?

VECO 29.15

-0.6%

Oct 30 3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Sam	8/17/2010 12:22:44 AM
	Read Replies (1) of 3069

8:00AM Veeco Instruments announces sale of Metrology Business to Bruker Corporation (BRKR) (VECO) 31.29 : Co announces that it has agreed to sell its Metrology business to Bruker Corporation (BRKR) for $229 mln in cash. The transaction has been approved by the Board of Directors of both companies and is expected to close in the fourth quarter of 2010, pending regulatory review and subject to customary closing conditions. The sale will transfer Veeco's worldwide Metrology business to Bruker, including Veeco's Atomic Force Microscope business in Santa Barbara, CA and its Optical Industrial Metrology business in Tucson, AZ, as well as Veeco's associated global AFM/OIM field sales and support organization. Bruker intends to combine Veeco Metrology with its global Bruker Nano instruments business, which currently sells a broad range of systems and analytical solutions for materials and nanotechnology research. Veeco currently expects cash proceeds from the transaction to be approximately $160 mln net of estimated applicable taxes and transaction fees. Additional terms of the transaction were not disclosed. Veeco will account for the Metrology business segment as a "discontinued operation" effective August 15, 2010. Veeco is therefore updating guidance for third quarter 2010 revenue from continuing operations to be in the range of $255-280 mln, with GAAP earnings per share between $1.45 and $1.72 and non-GAAP EPS between $1.13 and $1.33 (Current Q3 consensus is $1.34). Without Metrology, Veeco's updated guidance is that 2010 revenues from continuing operations will be approx $1 bln, with about 90% from the LED & Solar business segment. (Current 2010 rev consensus is $1.058 bln)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next