Veeco Isn't as Bright as It Looks
For the past two weeks, we have been in the midst of an earnings blizzard. More than 2,200 companies have shared their March quarter performances and updated their outlooks. As the velocity of earnings reports begins to slow, we can sit back and dig deeper into a company's quarterly results and outlook and make a more informed decision on what to do with the shares.
For several months, I have had a negative view of the shares of Veeco Instruments (VECO). The company presented better-than-expected March quarter results, having delivered earnings of $0.49 per share on revenue of $140 million, vs. management's guidance of earnings of $0.13 to $0.34 on revenue in the range of $115 million to $140 million. Clearly, Veeco handily beat its forecast, particularly on the EPS side, much the way it has over the last several quarters, and that resulted in shares swelling to an eight-month high. ...370 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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