Veeco Q1 Swings To Loss On Lower Revenue, Higher Costs

(RTTNews) - Semiconductor equipment maker Veeco Instruments Inc. (VECO) on Tuesday reported first-quarter 2026 results, swinging to a loss from last year as lower revenues and higher operating costs weighed on earnings.

The company reported a net loss of $0.3 million, or $0.01 per share, compared with net income of $11.9 million, or $0.20 per share, in the same period last year.

Adjusted net income decreased to $8.9 million, or $0.14 per share, from $22.2 million, or $0.37 per share last year.

Revenue declined to $158.3 million from $167.3 million a year ago.

The decline in earnings was primarily due to lower revenue and higher operating expenses, including increased research and development spending and merger-related costs.

Total operating expenses increased to $58.5 million from $54.3 million last year.

Looking ahead, Veeco expects second-quarter revenue in the range of $170 million to $190 million, with adjusted earnings per share projected between $0.20 and $0.32.

For the full year 2026, the company said it continues to expect revenue of $740 million to $800 million and adjusted earnings per share of $1.50 to $1.85.

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