- Though Veeco (NASDAQ:VECO) beat Q2 estimates, it's guiding for Q3 revenue of $92M-$100M and EPS of -$0.07 to -$0.15, below a consensus of $104.9M and -$0.04 (history repeating).
- Orders rose 1% Q/Q in Q2 to $104M, and were above revenue of $95.1M. MOCVD orders (LED-driven) totaled $75M, data storage $25M, and MBE $6M.
- Veeco say it's still seeing "positive trends in the LED market, including strong LED chip demand, very high LED fab utilization rates and solid customer quoting activity." LED equipment demand has been depressed for some time, in spite of strong end-user consumption.
- Gross margin fell to 32.3% from 35.6% a year ago. GAAP opex +13% to $46.6M.
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Q2 results, PR