Veeco Instruments Q3 Profit Increases, beats estimates

(RTTNews) - Veeco Instruments (VECO) revealed a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $15.0 million, or $0.27 per share. This compares with $9.0 million, or $0.17 per share, in last year's third quarter.

Excluding items, Veeco Instruments reported adjusted earnings of $26.0 million or $0.45 per share for the period.

Analysts on average had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.4% to $171.9 million from $150.2 million last year.

Veeco Instruments earnings at a glance (GAAP) :

-Earnings (Q3): $15.0 Mln. vs. $9.0 Mln. last year. -EPS (Q3): $0.27 vs. $0.17 last year. -Analyst Estimate: $0.41 -Revenue (Q3): $171.9 Mln vs. $150.2 Mln last year.

-Guidance: Next quarter EPS guidance: $0.24-$0.40 Next quarter revenue guidance: $150-$170 mln