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Technology Stocks : Veeco Instruments-Who?

VECO 29.15

-0.6%

Oct 30 3:59 PM EDT

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From: Sam	2/22/2016 10:30:23 PM
	of 3069

Veeco -12% amid shrinking demand, dim guidance Feb 22 2016, 18:20 ET \| About: Veeco Instruments Inc. (VECO) \| By: Jason Aycock, SA News Editor Veeco Instruments (NASDAQ: VECO) has tumbled 12% after hours as demand continues to shrink, though the company narrowed a net loss and beat expectations for Q4 earnings. Guidance for Q1 was especially soft, with a forecast for revenue of $70M-$80M (vs. expected $101.8M) and non-GAAP EPS of -$0.35 to -$0.25 (vs a consensus for break-even). "Entering 2016, we continue to face a weak macroeconomic environment and challenging LED industry conditions," says CEO John Peeler. "As a result, we expect investments for Metal Organic Chemical Vapor Deposition (MOCVD) equipment will remain soft through the first half of this year." Revenues fell 6.2% to $106.5M. For the full year, they rose to $477M from 2014's $392.9M. GAAP EPS came to -$0.25, which had shrunk from the previous year's -$1.44. On a non-GAAP basis, EPS was $0.01, down from the prior year's $0.13. EBITDA of $4.45M also beat expectations for $1.8M. Press Release seekingalpha.com

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