Silicon Investor (SI) -- The First Internet Community

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? -- Ignore unavailable to you. Want to Upgrade?

To: vinh pham who wrote (1633)	11/17/1998 12:27:00 PM
From: David Mullins	Read Replies (1) \| Respond to of 3069

Important excerpt from the 10Q. I read this in an article talking about various 10Q filings. It actually convinced me to sell my VECO and look for a lower entry point. Equities markets are supposed to be forward-looking indicators of corporate health and prospects, but sometimes expectations can run a little bit ahead of reality. That may be the case with the market's view of Veeco Instruments Inc. (VECO), a Plainview, N.Y.-based maker of ion-beam etching and measurement devices for microelectronic products including semiconductor components and flat panel displays. In its recent 10Q filing with the SEC, Veeco warned investors that revenues and operating income are expected to remain relatively flat for each of the next several quarters due to weakness in the semiconductor and data storage industries. In previous disclosures, Veeco had only said that 1998 results wouldn't be much better than those posted last year. Most recently, Veeco reported operating income of $6.3 million for the third quarter of 1998 on sales of $50.5 million. The company's own predictions appear to be somewhat at odds with those of analysts reporting on the First Call system, which lists consensus earnings estimates of $1.09 a share in 1998 growing to $1.40 a share in 1999. Veeco's stock now trades at about 33 1/2, up from a low in October of 21.