Veeco Instruments Q2 Net Loss Widens - Quick Facts

(RTTNews) - Veeco Instruments Inc. (VECO) reported second-quarter net loss of $237.6 million or $5.02 per share, wider than loss of $20.8 million or $0.49 per share in the prior-year quarter.

The latest quarter's results include asset impairment costs of $252.34 million.

However, adjusted earnings for the quarter were $0.15 per share, compared to $0.09 per share in the year-ago period.

Net sales for the quarter grew to $157.8 million from $112.2 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter on revenues of $160.35 million. Analysts' estimates typically exclude special items.

For the third quarter, Veeco Instruments forecasts revenue in a range of $130 million to $140 million, reported earnings in a range of loss of $0.25 per share to earnings of $0.15 per share, and adjusted earnings per share of $0.03 to $0.13.

The Street expects earnings of $0.21 per share for the quarter on revenues of $160.33 million.