Veeco Instruments, Inc. Third Quarter Earnings Sneak Peek

Veeco Instruments, Inc. (NASDAQ:VECO) will unveil its latest earnings on Monday, October 24, 2011. 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 $1.14 per share, a decline of 18% 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 $1.36. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.14 during the last month. For the year, analysts are projecting net income of $4.69 per share, a rise of 6.1% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at profit of $1.35 a share versus the estimate of net income of $1.34 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: On average, analysts predict $252.6 million in revenue this quarter, a decline of 8.8% from the year ago quarter. Analysts are forecasting total revenue of $1.01 billion for the year, a rise of 8.2% from last year’s revenue of $933.2 million.

Analyst Ratings: Analysts seem relatively indifferent about Veeco Instruments with 12 of 19 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 63.3% to $19.2 million (45 cents a share) from $52.4 million ($1.20 a share) the year earlier, but exceeded analyst expectations. Revenue rose 4.7% to $264.8 million from $253 million.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 56% in the first quarter from the year earlier, climbed more than twofold in the fourth quarter of the last fiscal year from the year-ago quarter and more than twofold in the third quarter of the last fiscal year.

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 July 25, 2011 to October 18, 2011, the stock price had fallen $15.26 (-37.5%) from $40.68 to $25.42. 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 September 14, 2011 and September 21, 2011 when shares fell for six-straight days, falling 18.7% (-$6.23) over that span. Shares are down $17.54 (-40.8%) year to date.

(Source: Xignite Financials)

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