Veeco Instruments Inc. Fourth Quarter Earnings Sneak Peek

Veeco Instruments, Inc. (NASDAQ:VECO) will unveil its latest earnings on Monday, February 6, 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 60 cents per share, a decline of 63% 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 61 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 60 cents during the last month. Analysts are projecting profit to rise by 1.4% versus last year to $4.48.

Past Earnings Performance: Last quarter, the company beat estimates by 19 cents, coming in at net income of $1.33 a share versus the estimate of profit of $1.14 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: On average, analysts predict $193.7 million in revenue this quarter, a decline of 35.4% from the year ago quarter. Analysts are forecasting total revenue of $982.3 million for the year, a rise of 5.3% from last year’s revenue of $933.2 million.

Analyst Ratings: Analysts seem relatively indifferent about Veeco Instruments with 13 of 19 analysts surveyed maintaining a hold rating.

A Look Back: In the third quarter, profit fell 58.4% to $35.9 million (90 cents a share) from $86.2 million ($2.04 a share) the year earlier, but exceeded analyst expectations. Revenue fell 3.3% to $268 million from $277.1 million.

Key Stats:

A year-over-year revenue decrease in the third quarter snapped a streak of three consecutive quarters of revenue increases. Revenue rose 4.7%in the second quarter, 56% in the first quarter and more than twofold in the fourth quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 63.3% in the second quarter.

Stock Price Performance: During December 30, 2011 to January 31, 2012, the stock price had risen $3.61 (17.4%) from $20.80 to $24.41. The stock price saw one of its best stretches over the last year between April 25, 2011 and May 2, 2011 when shares rose for six-straight days, rising 7.5% (+$3.60) over that span. It saw one of its worst periods between September 14, 2011 and September 21, 2011 when shares fell for six-straight days, falling 18.7% (-$6.23) over that span.

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

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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