Veeco (VECO) this afternoon posted Q3 revenue of $277.1 million, with non-GAAP profits of $1.46 a share, ahead of the Street consensus at $274.7 million and $1.25. But the stock is trading lower after hours following the company’s disclosure that some orders are slipping from Q4 into Q1 of next year.
For Q4, the maker of tools for LED manufacturing sees revenue of $285 million to $320 million, with non-GAAP profits of $1.46 or $174 a share.
CEO John Peeler said in a statement that it has “recently experienced rescheduling of tool shipments from the fourth quarter into the first quarter by several customers in Korea and Taiwan.”
He added that “due to the recent strong order rate from China, our current plan for Q4 revenue includes a significant amount of large multi-tool shipments to key Chinese customers, many of whom are currently building or expanding their facilities. While we currently expect that these tools will ship over the next few months, timing of revenue could shift into the first quarter due to customer facility readiness.�
VECO in late trading is down $2.64, or 6.6%, to $37.30.
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