Veeco Instruments Inc. (VECO) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
TERMINAL DRIVE PLAINVIEW, NY 11803 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3559 - Special Industry Machinery, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 302,413 | 223,928 | 319,396 | 244,546 | 260,462 | 327,516 | |||
| Cash and cash equivalents | 154,925 | 119,747 | 129,625 | 129,294 | 212,273 | 279,736 | |||
| Short-term investments | 147,488 | 104,181 | 189,771 | 115,252 | 48,189 | 47,780 | |||
| Restricted cash and investments | 547 | 725 | 658 | 657 | 809 | 847 | |||
| Receivables | 124,221 | 109,609 | 79,991 | 45,666 | 66,808 | 98,866 | |||
| Inventory, net of allowances, customer advances and progress billings | 206,908 | 170,858 | 145,906 | 133,067 | 156,311 | 120,266 | |||
| Inventory | 206,908 | 170,858 | 145,906 | 133,067 | 156,311 | 120,266 | |||
| Deferred costs | 346 | 433 | 445 | 3,072 | 16,060 | ||||
| Disposal group, including discontinued operation | 11,180 | ||||||||
| Other undisclosed current assets | 34,812 | 43,921 | 40,547 | 40,317 | 32,618 | 33,437 | |||
| Total current assets: | 668,901 | 549,387 | 586,931 | 475,878 | 520,080 | 596,992 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 26,467 | 28,813 | 10,275 | 14,453 | ✕ | ✕ | |||
| Property, plant and equipment | 107,281 | 99,743 | 65,271 | 75,711 | 80,284 | 85,058 | |||
| Intangible assets, net (including goodwill) | 205,830 | 215,848 | 228,128 | 243,461 | 269,451 | 676,974 | |||
| Goodwill | 181,943 | 181,943 | 181,943 | 181,943 | 184,302 | 307,131 | |||
| Intangible assets, net (excluding goodwill) | 23,887 | 33,905 | 46,185 | 61,518 | 85,149 | 369,843 | |||
| Deferred income tax assets | 116,349 | 1,639 | 1,440 | 1,549 | ✕ | ✕ | |||
| Other noncurrent assets | 3,355 | 3,546 | 6,019 | 7,036 | 29,132 | 25,310 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 1,869 | 2,953 | ||
| Total noncurrent assets: | 459,282 | 349,589 | 311,133 | 342,210 | 380,736 | 790,295 | |||
| TOTAL ASSETS: | 1,128,183 | 898,976 | 898,064 | 818,088 | 900,816 | 1,387,287 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 104,747 | 104,771 | 74,105 | 55,487 | 83,848 | 110,657 | |||
| Interest and dividends payable | ✕ | ✕ | 2,757 | 2,574 | 4,321 | 4,321 | |||
| Taxes payable | ✕ | ✕ | 4,889 | 2,658 | 811 | 2,670 | |||
| Employee-related liabilities | ✕ | ✕ | 35,712 | 26,630 | 15,174 | 20,486 | |||
| Accounts payable | 52,049 | 44,456 | 33,656 | 21,281 | 39,611 | 50,318 | |||
| Accrued liabilities | 52,698 | 16,957 | 8,587 | 13,900 | 16,760 | 60,339 | |||
| Deferred revenue | ✕ | ✕ | |||||||
| Debt | 20,169 | 4,196 | |||||||
| Restructuring reserve | 279 | 2,841 | 2,213 | ||||||
| Business combination, contingent consideration, liability | |||||||||
| Customer advances and deposits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 108,953 | ||
| Other undisclosed current liabilities | 132,988 | 84,433 | 72,297 | 55,700 | 73,992 | 3,846 | |||
| Total current liabilities: | 257,904 | 189,204 | 146,681 | 118,224 | 160,053 | 223,456 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 254,491 | 262,272 | 327,420 | 310,368 | 287,392 | 275,630 | |||
| Long-term debt, excluding current maturities | 254,491 | 229,438 | 321,115 | 300,068 | 287,392 | 275,630 | |||
| Liabilities, other than long-term debt | 37,964 | 9,872 | 15,589 | 14,984 | 15,596 | 47,488 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 5,690 | 36,845 | ||
| Deferred income tax liabilities | 1,285 | 4,792 | 5,240 | 5,648 | ✕ | ✕ | |||
| Other liabilities | 3,098 | 5,080 | 10,349 | 9,336 | 9,906 | 10,643 | |||
| Operating lease, liability | 33,581 | 32,834 | 6,305 | 10,300 | ✕ | ✕ | |||
| Total noncurrent liabilities: | 292,455 | 272,144 | 343,009 | 325,352 | 302,988 | 323,118 | |||
| Total liabilities: | 550,359 | 461,348 | 489,690 | 443,576 | 463,041 | 546,574 | |||
| Equity | |||||||||
| Equity, attributable to parent | 577,824 | 437,628 | 408,374 | 374,512 | 437,775 | 840,713 | |||
| Common stock | 517 | 507 | 497 | 490 | 485 | 482 | |||
| Treasury stock, value | (5,872) | (1,284) | |||||||
| Additional paid in capital | 1,078,180 | 1,116,921 | 1,113,352 | 1,071,058 | 1,061,325 | 1,053,079 | |||
| Accumulated other comprehensive income | 928 | 1,483 | 1,846 | 1,894 | 1,820 | 1,812 | |||
| Accumulated deficit | (501,801) | (681,283) | (707,321) | (698,930) | (619,983) | (213,376) | |||
| Total equity: | 577,824 | 437,628 | 408,374 | 374,512 | 437,775 | 840,713 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,128,183 | 898,976 | 898,064 | 818,088 | 900,816 | 1,387,287 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 646,137 | 583,277 | 454,163 | 419,349 | 542,082 | 484,756 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 484,756 | |
| Cost of revenue (Cost of Goods and Services Sold) | (382,989) | (341,003) | (259,863) | (261,155) | (348,363) | (300,438) | ||
| Gross profit: | 263,148 | 242,274 | 194,300 | 158,194 | 193,719 | 184,318 | ||
| Operating expenses | (202,852) | (185,564) | (171,735) | (197,772) | (609,221) | (248,096) | ||
| Operating income (loss): | 60,296 | 56,710 | 22,565 | (39,578) | (415,502) | (63,778) | ||
| Nonoperating income (expense) | 2,199 | (2,670) | (6,290) | (16,293) | 3,186 | 2,335 | ||
| Investment income, nonoperating | 2,199 | 2,340 | 1,551 | 4,680 | 3,186 | 2,335 | ||
| Other nonoperating expense | (5,010) | (7,841) | (20,973) | |||||
| Interest and debt expense | (11,510) | (28,360) | (24,739) | (22,085) | (21,518) | (19,457) | ||
| Income (loss) from continuing operations before income taxes: | 50,985 | 25,680 | (8,464) | (77,956) | (433,834) | (80,900) | ||
| Income tax expense (benefit) | 115,957 | 358 | 73 | (777) | 26,746 | 36,107 | ||
| Income (loss) from continuing operations: | 166,942 | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | |
| Net income (loss) available to common stockholders, basic: | 166,942 | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | ||
| Interest on convertible debt | 10,832 | |||||||
| Net income (loss) available to common stockholders, diluted: | 177,774 | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 166,942 | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | ||
| Comprehensive income (loss): | 166,942 | 26,038 | (8,391) | (78,733) | (407,088) | (44,793) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (555) | (363) | (48) | 74 | 8 | 35 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 166,387 | 25,675 | (8,439) | (78,659) | (407,080) | (44,758) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.