Page 1

Veeco VEECO REPORTS THIRD QUARTER 2021 FINANCIAL RESULTS Third Quarter 2021 Highlights : • Revenues of $ 150.2 million , compared with $ 112.1 million in the same period last year GAAP net income of $ 9.0 million , or $ 0.17 per diluted share , compared with $ 0.6 million , or $ 0.01 per diluted share in the same period last year Non - GAAP net income of $ 20.5 million , or $ 0.40 per diluted share , compared with $ 11.0 million , or $ 0.22 per diluted share in the same period last year Plainview , N.Y. , November 2 , 2021 -- Veeco Instruments Inc. ( Nasdaq : VECO ) today announced financial results for its third quarter ended September 30 , 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 Q3 '21 Q3 '20 $ 150.2 $ 112.1 $ 9.0 $ 0.6 $ 0.17 $ 0.01 Q3 '21 Q3 '20 $ 20.5 $ 11.0 $ 24.3 $ 14.1 $ 0.40 $ 0.22 " Veeco delivered solid year - on - year and sequential growth in the third quarter with revenue and EPS at the high end of our guidance range . Cash flow from operations was the highest in several years demonstrating the effectiveness of our transformation , ” commented William J. Miller , Ph.D. , Chief Executive Officer . “ Record semiconductor sales were the primary driver of our performance with shipments of our Laser Annealing and EUV mask blank systems . " Once again , we are improving our outlook for 2021 and we are excited about the traction in our semiconductor business , which has been a focus of our transformation , ” continued Dr. Miller . " We expect to ship the first systems in the coming weeks from our new state - of - the - art San Jose semiconductor equipment manufacturing facility . " 1