Veeco Instruments Turns To Profit In Q1 - Quick Facts

(RTTNews) - Veeco Instruments Inc. (VECO) Monday reported first-quarter net income of $19.2 million or $0.48 per share, compared to net loss of $10.2 million or $0.26 per share last year.

Adjusted net loss narrowed to $2.4 million or $0.06 per share from $7.5 million or $0.19 per share in the prior year quarter. On average, 16 analysts polled by Thomson Reuters expected a loss of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues rose to $90.84 million from $61.78 million in the prior year. Wall Street expected revenues of $89.38 million.

Looking ahead to the second quarter, the company GAAP loss in the range of $0.46 per share to $0.36 per share, non-GAAP loss in the range of $0.23 per share to $0.14 per share and revenues in order of $87 million to $97 million.

Analysts currently expect second quarter loss of $0.11per share on revenues of $96.84 million.