(RTTNews) - Veeco Instruments Inc. (VECO), a manufacturer of semiconductor process equipment, Tuesday provided updated outlook for the fourth quarter.
Veeco now expects fourth-quarter revenue to be in the range of $175 million - $185 million, up from the previous outlook of $165 million - $185 million.
The company currently sees EPS for the fourth quarter to be in the range of $0.09 - $0.28, lower than the previous outlook of $0.18 - $0.27. Adjusted EPS outlook has been revised to $0.36 - $0.44 from $0.35 - $0.45.
On average, 6 analysts expect the company to report earnings of $0.40 per share on revenue of $176.08 million. Analysts' estimates typically exclude special items.
For the full year, EPS is expected in the range of $1.07 to $1.26, while adjusted EPS is expected between $1.69 and $1.76. The consensus estimate stands at $1.72.
Veeco said that the updated guidance reflects the company's market penetration not meeting expectations with regard to its Silicon Carbide Epitaxy technology acquired in 2023.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
