Veeco Instruments Inc reports results for the quarter ended June 30 - Earnings Summary

• Veeco Instruments Inc VECO.OQ reported quarterly adjusted earnings of 36 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 42 cents. The mean expectation of seven analysts for the quarter was for earnings of 23 cents per share. Wall Street expected results to range from 22 cents to 25 cents per share.

• Revenue fell 5.6% to $166.10 million from a year ago; analysts expected $151.21 million.

• Veeco Instruments Inc's reported EPS for the quarter was 20 cents​.

• The company reported quarterly net income of $11.73 million.

• Veeco Instruments Inc shares had fallen by 1.9% this quarter and lost 25.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 29.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductor equipment & testing peer group is also "buy"

• Wall Street's median 12-month price target for Veeco Instruments Inc is $29.00, about 31.2% above its last closing price of $19.94

This summary was machine generated from LSEG data August 6 at 09:39 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)