NEW YORK (Thomson Financial) - Veeco Instruments Inc. said late Monday it
swung to a fourth-quarter net loss of $9.4 million, or 30 cents a share, from a
profit of $7.6 million, or 24 cents a share, in the same period last year.
The quarter's loss includes $10.6 million in restructuring and other
charges.
Fourth-quarter sales slipped 13% to $106.8 million from $123.1 million in
last year's comparable period.
The mean estimate of analysts polled by Thomson Financial is for earnings of
5 cents a share and sales of $109 million.
During the quarter, the company said it completed a 7.5% force reduction for
annualized savings of nearly $12 million.
Veeco expects first-quarter earnings to range from flat on a per share basis
to a profit of 6 cents a share. Sales are expected to be between $98 million to
$105 million.
Analysts' consensus view is for earnings of 1 cent a share and sales of $102
million.
Shares of the process equipment, metrology and instrumentation company
closed the regular session at $13.65.
Melinda Peer
mp/gm
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