Veeco Instruments, Inc. First Quarter Earnings Sneak Peek

Veeco Instruments, Inc. (NASDAQ:VECO) will unveil its latest earnings on Monday, April 30, 2012. Veeco Instruments designs and manufactures enabling solutions for customers in the high brightness light emitting diode (HB-LED), solar, data storage, semiconductor, scientific research and industrial markets.

Veeco Instruments, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 16 cents per share, a decline of 87.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 39 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 16 cents during the last month. For the year, analysts are projecting net income of 98 cents per share, a decline of 79.7% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 7 cents, coming in at profit of 67 cents a share versus the estimate of net income of 60 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 50.5% in revenue from the year-earlier quarter to $126 million.

Analyst Ratings: Analysts seem relatively indifferent about Veeco Instruments with 10 of 18 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 89.7% to $20.3 million (54 cents a share) from $197.2 million ($4.60 a share) the year earlier, but exceeded analyst expectations. Revenue fell 36.1% to $191.7 million from $300 million.

Key Stats:

After experiencing income drops the past three quarters, the company is hoping to use this earnings announcement to rebound. Net income fell 63.3% in the second quarter of the last fiscal year, by 58.4% in the third quarter of the last fiscal year and again in the fourth quarter of the last fiscal year.

On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 3.3% in the third quarter of the last fiscal year and dropped again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between March 26, 2012 and April 24, 2012, the stock price dropped $4.10 (-13.3%), from $30.75 to $26.65. The stock price saw one of its best stretches over the last year between February 6, 2012 and February 10, 2012, when shares rose for five straight days, increasing 4.5% (+$1.22) over that span. It saw one of its worst periods between April 2, 2012 and April 10, 2012 when shares fell for six straight days, dropping 9.5% (-$2.80) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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