NEW YORK (Thomson Financial) - Veeco Instruments Monday reported a
third-quarter loss of $5.7 million, or 18 cents a share, down from a year-ago
profit of $4.5 million, or 14 cents a share.
Excluding items, the Woodbury, N.Y., maker of metrology and nanoscale
applications said it lost 5 cents a share, a performance that was at the narrow
end of its outlook for a loss of 5 to 9 cents a share.
Revenue totaled $97.7 million, down 13% from a year ago.
The mean estimate of analysts polled by Thomson Financial was for a loss of
7 cents a share in the September period.
For the fourth quarter, Veeco sees between breakeven results and a profit of
6 cents a share on an adjusted basis. This view excludes certain items,
primarily a $5 million restructuring charge, and uses a 35% tax rate. Veeco also
said it could record additional restructuring charges of $8 million to $13
million spanning the fourth quarter and first quarter. It sees revenue of
between $104 million and $112 million for the December period.
For the year, it anticipates revenue of between $400 million and $408
million, a performance it described as "disappointing due to the challenging
overall data storage and semiconductor markets."
The current Wall Street consensus estimate is for earnings of 20 cents a
share in the fourth quarter. The average analysts' view for revenue are $117.8
million in the fourth quarter and $411.6 million for the year.
Michael Baron
mb
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|