VECO FY 2022 Earnings Report — Veeco Instruments Inc. Revenue & Financial Results | Market Cap Arena

Veeco Instruments Inc.VECO

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$646M	—	$583M	—	10.8%
Op. Income	$60M	—	$57M	—	6.3%
Gross Margin	40.7%	—	41.5%	—	-0.8pp
Net Margin	25.8%	—	4.5%	—	21.4pp
EPS (Diluted)	$2.71	—	$0.49	—	453.1%
Free Cash Flow	$84M	—	$27M	—	209.5%

Revenue Flow

Item	Amount
REVENUE	$646M
Cost of Revenue	$383M
GROSS PROFIT	$263M
R&D Expenses	$104M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$89M
Other Expenses	$10M
Operating Expenses	$203M
Cost & Expenses	$586M
OPERATING INCOME	$60M
Interest Income	$2M
Interest Expense	$12M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$51M
Income Tax Expense	-$116M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$178M
D&A	$26M
EBIT	$62M
EBITDA	$88M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$646M
Cost of Revenue	$383M
GROSS PROFIT	$263M
R&D Expenses	$104M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$89M
Other Expenses	$10M
Operating Expenses	$203M
Cost & Expenses	$586M
OPERATING INCOME	$60M
Interest Income	$2M
Interest Expense	$12M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$51M
Income Tax Expense	-$116M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$178M
D&A	$26M
EBIT	$62M
EBITDA	$88M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$167M
Depreciation & Amortization	$26M
Stock-Based Compensation	$23M
Deferred Income Tax	-$118M
Other Non-Cash Items	$962.0K
Change in Working Capital	$10M
OPERATING CASH FLOW	$108M
Capital Expenditure	-$25M
Acquisitions (Net)	$44M
Purchases of Investments	-$104M
Sales/Maturities of Investments	$60M
Other Investing Activities	-$44M
NET CASH FROM INVESTING	-$69M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$8M
NET CASH FROM FINANCING	-$5M
FREE CASH FLOW	$84M
Net Change in Cash	$35M

Balance Sheet

Item	Amount
Cash & Equivalents	$155M
Short-Term Investments	$147M
Net Receivables	$141M
Inventory	$207M
Other Current Assets	$19M
TOTAL CURRENT ASSETS	$669M
PP&E (Net)	$134M
Goodwill	$182M
Intangible Assets	$24M
Long-Term Investments	$0
Tax Assets	$116M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$459M
TOTAL ASSETS	$1.1B
Account Payables	$52M
Short-Term Debt	$20M
Deferred Revenue	$127M
Other Current Liabilities	$7M
TOTAL CURRENT LIABILITIES	$258M
Long-Term Debt	$254M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$292M
TOTAL LIABILITIES	$550M
Common Stock	$517.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	-$502M
Treasury Stock	$0
Accum. Other Comp. Income	$928.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$578M
Minority Interest	$0
TOTAL EQUITY	$578M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$312M
Net Debt	$157M