Veeco Instruments, Inc. Second Quarter Earnings Sneak Peek

Veeco Instruments, Inc. (NASDAQ:VECO) will unveil its latest earnings on Thursday, July 28, 2011. Veeco Instruments, Inc. 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 net income of $1.34 per share, a rise of 42.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.28. Between one and three months ago, the average estimate moved up, and has risen from $1.33 during the last month. For the year, analysts are projecting profit of $5.27 per share, a rise of 19.2% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 13 cents, reporting net income of $1.28 per share against a mean estimate of profit of $1.15 per share.

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Wall St. Revenue Expectations: On average, analysts predict $274.6 million in revenue this quarter, a rise of 8.5% from the year ago quarter. Analysts are forecasting total revenue of $1.08 billion for the year, a rise of 15.7% from last year’s revenue of $933.2 million.

Analyst Ratings: Analysts are bullish on Veeco Instruments as eight analysts rate it as a buy, two rate it as a sell and six rate it as a hold.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of more than twofold, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose more than threefold from the year earlier quarter.

The company upped its gross margin by 7.7 percentage points in the in the first quarter. Revenue rose 56% while cost of sales rose 34.9% to $125.3 million from a year earlier.

Competitors to Watch: Applied Materials, Inc. (NASDAQ:AMAT), Aixtron AG (NASDAQ:AIXG), CVD Equipment Corporation (NASDAQ:CVV), Cree, Inc. (NASDAQ:CREE), Intevac, Inc. (NASDAQ:IVAC), Amtech Systems, Inc. (NASDAQ:ASYS), Zygo Corporation (NASDAQ:ZIGO), Canon Inc. (NYSE:CAJ), MEMC Electronic Materials, Inc. (NYSE:WFR), and Novellus Systems, Inc. (NASDAQ:NVLS).

Stock Price Performance: During May 25, 2011 to July 22, 2011, the stock price had fallen $13.55 (-24.8%) from $54.72 to $41.17. The stock price saw one of its best stretches over the last year between December 31, 2010 and January 12, 2011 when shares rose for nine-straight days, rising 15.6% (+$6.71) over that span. It saw one of its worst periods between August 6, 2010 and August 13, 2010 when shares fell for six-straight days, falling 21.6% (-$8.62) over that span. Shares are down $1.79 (-4.2%) year to date.

(Source: Xignite Financials)

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