[High-tech LED News] Veeco Instruments Inc., a US MOCVD equipment manufacturer, recently released its third quarter (July-September) earnings report. The financial report shows that the company's third quarter of 2011 revenue of 268 million US dollars, down 3.3% compared with 277.1 million US dollars in the same period last year; the industry's earnings per share reached 1.33 US dollars, lower than the same period last year of 1.55 US dollars.
Veeco pointed out that due to the weak demand from the LED industry, the low utilization rate of MOCVD equipment in Asia and the slowdown in business activities in mainland China, the company's orders in the third quarter decreased by 57% to US$133 million. The BB value is 0.50; the backfill amount at the end of the third quarter is $389 million.
Veeco expects revenue for the fourth quarter (October-December) to be between $1.75 and $12.15 million (with a median of $195 million); the industry's earnings per share will be between $0.54 and $0.86 (median $0.70) ).
Veeco CEO John R. Peeler pointed out that orders in the next few quarters will continue to be weak, although many data show that LED lighting demand is increasing, but weak backlight demand still leads to low capacity utilization of the plant. Despite this, the company still expects 2011 revenues to reach $1 billion.
Veeco pointed out that due to the weak demand from the LED industry, the low utilization rate of MOCVD equipment in Asia and the slowdown in business activities in mainland China, the company's orders in the third quarter decreased by 57% to US$133 million. The BB value is 0.50; the backfill amount at the end of the third quarter is $389 million.
Veeco expects revenue for the fourth quarter (October-December) to be between $1.75 and $12.15 million (with a median of $195 million); the industry's earnings per share will be between $0.54 and $0.86 (median $0.70) ).
Veeco CEO John R. Peeler pointed out that orders in the next few quarters will continue to be weak, although many data show that LED lighting demand is increasing, but weak backlight demand still leads to low capacity utilization of the plant. Despite this, the company still expects 2011 revenues to reach $1 billion.
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