Veeco Instruments Posts Loss In Q3 - Quick Facts

(RTTNews) - Veeco Instruments Inc. (VECO) Friday reported a third-quarter net loss of $6.0 million or $0.16 per share compared to a profit of $11.75 million or $0.30 per share last year.

Adjusted net loss was $$0.08 per share while the company posted an adjusted profit of $0.30 per share last year.

On average, 14 analysts polled by Thomson Reuters expected a loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Loss from continuing operations was $6.0 million while income from continuing operations totaled $7.7 million last year. Revenues declined to $99.3 million from $132.7 million in the prior year. Wall Street expected revenues of $94.04 million.

John Peeler, Veeco's CEO, said, ''Veeco's third quarter 2013 results were impacted by persistent overcapacity and weak business conditions in our MOCVD and Data Storage businesses."