$VECO
VEECO INSTRUMENTS INC

2023 Q2 Form 10-Q Financial Statement

#000155837023008539 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $161.6M $153.5M
YoY Change -1.44% -1.87%
Cost Of Revenue $94.13M $91.49M
YoY Change -5.62% 1.19%
Gross Profit $67.51M $62.02M
YoY Change 5.05% -6.05%
Gross Profit Margin 41.77% 40.4%
Selling, General & Admin $23.82M $22.63M
YoY Change 3.8% -1.17%
% of Gross Profit 35.29% 36.49%
Research & Development $27.38M $27.56M
YoY Change 5.26% 14.28%
% of Gross Profit 40.56% 44.44%
Depreciation & Amortization $4.000M $6.276M
YoY Change 0.0% 0.58%
% of Gross Profit 5.93% 10.12%
Operating Expenses $53.82M $52.21M
YoY Change 4.62% 5.49%
Operating Profit $13.69M $9.806M
YoY Change 6.75% -40.63%
Interest Expense $3.052M $2.875M
YoY Change 7.16% -0.59%
% of Operating Profit 22.3% 29.32%
Other Income/Expense, Net -$97.09M
YoY Change
Pretax Income -$84.04M $9.004M
YoY Change -924.84% -34.34%
Income Tax $1.300M $300.0K
% Of Pretax Income 3.33%
Net Earnings -$85.32M $8.741M
YoY Change -983.69% -34.43%
Net Earnings / Revenue -52.78% 5.69%
Basic Earnings Per Share -$1.61 $0.17
Diluted Earnings Per Share -$1.61 $0.17
COMMON SHARES
Basic Shares Outstanding 51.69M 51.66M
Diluted Shares Outstanding 52.86M 59.86M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $286.4M $252.9M
YoY Change 24.48% 9.52%
Cash & Equivalents $180.5M $140.7M
Short-Term Investments $105.9M $112.2M
Other Short-Term Assets $27.66M $26.84M
YoY Change 49.73% -23.09%
Inventory $244.5M $225.7M
Prepaid Expenses
Receivables $130.1M $120.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $709.2M $643.3M
YoY Change 24.57% 12.86%
LONG-TERM ASSETS
Property, Plant & Equipment $112.0M $113.2M
YoY Change 6.63% 8.74%
Goodwill $215.0M $215.0M
YoY Change 18.15% 18.15%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.219M $3.242M
YoY Change -6.8% -7.45%
Total Long-Term Assets $519.3M $524.0M
YoY Change 49.49% 49.53%
TOTAL ASSETS
Total Short-Term Assets $709.2M $643.3M
Total Long-Term Assets $519.3M $524.0M
Total Assets $1.228B $1.167B
YoY Change 34.01% 26.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.21M $61.97M
YoY Change 34.28% 10.36%
Accrued Expenses $52.03M $69.49M
YoY Change -8.58% -14.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $282.3M $267.2M
YoY Change 40.96% 21.06%
LONG-TERM LIABILITIES
Long-Term Debt $274.3M $254.7M
YoY Change 7.98% 0.34%
Other Long-Term Liabilities $19.50M $19.35M
YoY Change 286.56% 281.81%
Total Long-Term Liabilities $293.8M $274.1M
YoY Change 13.41% 5.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $282.3M $267.2M
Total Long-Term Liabilities $293.8M $274.1M
Total Liabilities $615.8M $581.7M
YoY Change 24.18% 12.56%
SHAREHOLDERS EQUITY
Retained Earnings -$578.4M -$493.1M
YoY Change -10.43% -24.77%
Common Stock $1.190B $1.077B
YoY Change 11.59% 1.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $612.6M $585.6M
YoY Change
Total Liabilities & Shareholders Equity $1.228B $1.167B
YoY Change 34.01% 26.82%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$85.32M $8.741M
YoY Change -983.69% -34.43%
Depreciation, Depletion And Amortization $4.000M $6.276M
YoY Change 0.0% 0.58%
Cash From Operating Activities $11.22M $13.92M
YoY Change 231.77% -43.85%
INVESTING ACTIVITIES
Capital Expenditures $3.890M $6.946M
YoY Change -186.41% -36.38%
Acquisitions $30.37M
YoY Change
Other Investing Activities $7.018M $6.184M
YoY Change -168.12% -2698.32%
Cash From Investing Activities $3.128M -$762.0K
YoY Change -121.13% -93.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.47M -27.44M
YoY Change 3071.86% 374.02%
NET CHANGE
Cash From Operating Activities 11.22M 13.92M
Cash From Investing Activities 3.128M -762.0K
Cash From Financing Activities 25.47M -27.44M
Net Change In Cash 39.82M -14.28M
YoY Change -474.87% -282.08%
FREE CASH FLOW
Cash From Operating Activities $11.22M $13.92M
Capital Expenditures $3.890M $6.946M
Free Cash Flow $7.327M $6.972M
YoY Change -7.05% -49.73%

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VEECO INSTRUMENTS INC.
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Veeco reports interim quarters on a 13-week basis ending on the last Sunday of each quarter. The fourth quarter always ends on the last day of the calendar year, December 31. The 2023 interim quarters end on April 2, July 2, and October 1, and the 2022 interim quarters ended on April 3, July 3, and October 2. These interim quarters are reported as March 31, June 30, and September 30 in Veeco’s interim consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The preparation of financial statements in conformity with U.S GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, actual results may differ from these estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
30.47
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
176000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
30.94
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9004000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13714000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
263000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
384000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0293
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0280
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
153504000
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
156426000
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
153504000
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
156426000

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0001558370-23-008539-index.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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veco-20230331.xsd Edgar Link pending
veco-20230331x10q.htm Edgar Link pending
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veco-20230331_def.xml Edgar Link unprocessable
veco-20230331_lab.xml Edgar Link unprocessable
veco-20230331_pre.xml Edgar Link unprocessable
veco-20230331x10q_htm.xml Edgar Link completed