Veeco Instruments Posts Narrower Than Estimated Q3 Loss

(RTTNews) - Veeco Instruments Inc. (VECO) reported a net loss for the third quarter of $14.0 million or $0.35 per share, compared to a net loss of $6.0 million or $0.16 per share for the year-ago quarter.

Excluding items, adjusted net loss for the third quarter was $0.8 million or $0.02 per share, compared to an adjusted net loss of $3.0 million or $0.08 per share in the prior year quarter.

Revenue for the third quarter fell to $93.3 million from $99.3 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share on revenue of $96.63 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $100 million to $115 million, loss of $0.25 to $0.13 per share. The company's fourth quarter adjusted results are expected between a loss $0.03 per share and profit of $0.09 per share. Analysts currently expect the company to earn $0.01 per share on revenue of $108.58 million for the fourth quarter.