Earnings release
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EXHIBIT 99.1 Veeco VEECO REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS First Quarter 2021 Highlights : Revenues of $ 133.7 million , compared with $ 104.5 million in the same period last year GAAP net income of $ 2.5 million , or $ 0.05 per diluted share , compared with a loss of $ 0.6 million , or $ 0.01 loss per diluted share in the same period last year Non - GAAP net income of $ 12.6 million , or $ 0.25 per diluted share , compared with $ 10.9 million , or $ 0.22 per diluted share in the same period last year Plainview , N.Y. , May 4 , 2021 -- Veeco Instruments Inc. ( Nasdaq : VECO ) today announced financial results for its first quarter ended March 31 , 2021. Results are reported in accordance with U.S. generally accepted accounting principles ( " GAAP " ) and are also reported adjusting for certain items ( " Non - GAAP " ) . A reconciliation between GAAP and Non - GAAP operating results is provided at the end of this press release . U.S. Dollars in millions , except per share data GAAP Results Revenue Net income ( loss ) Diluted earnings ( loss ) per share Non - GAAP Results Net income ( loss ) Operating income ( loss ) Diluted earnings ( loss ) per share Q1'21 Q1'20 $ 133.7 $ 104.5 $ 2.5 $ ( 0.6 ) $ 0.05 $ ( 0.01 ) Q1'21 Q1'20 $ 12.6 $ 10.9 $ 16.1 $ 12.7 $ 0.25 $ 0.22 " Veeco started off the year strong by delivering solid first quarter results . We improved revenue and profitability year - on - year as we continued to invest for growth , " commented William J. Miller , Ph.D. , Chief Executive Officer . " Revenue in the quarter was driven by our semiconductor and data storage products and we are on track to grow in 2021. " " We are also making progress toward our long - term growth by actively engaging with customers in the semiconductor and compound semiconductor markets . We shipped multiple evaluation systems to leading device manufacturers as part of our strategy to penetrate targeted high - growth markets . Additionally , construction is well underway at our new San Jose manufacturing facility to better meet the demands of our semiconductor customers . " 1