Re: Doing well so far today. Also picked up some Jan20 calls yesterday at 5.10. Will hold those after selling long position on any decent move.
Barrons: Equipment maker Veeco Instruments (VECO), which supplies tools to those making light-emitting diodes and solar technology, this evening reported blow-out results for its Q3 on top and bottom line, and forecast Q4 sales and profit well ahead of estimates.
Revenue in Q3 fell 15%, year over year, to $98.9 million, but was up 37% sequentially, and ahead of the average $86.4 million estimate. Profit per share of 16 cents easily surpassed the 1-cent estimate.
For Q4, the company sees sales of $120 million to $130 million, ahead of the $100 million average estimate, and profit, excluding some costs, or 29 cents to 35 cents per share, ahead of the average 12-cent estimate. For the full year, the company forecast sales of $353 million to $363 million, ahead of the $321 million estimate.
The company said all three of its business units — solar & LED, disk drive technology tools, and metrology — returned to profitability in the quarter. For Q4, the company expects to have a positive book-to-bill.
Q3 bookings for new equipment orders rose 129% from the prior quarter, to $225.6 million, the company said, with particular strength in tools for LED and solar process technology, over half the company’s revenue. Orders for “metrology” tools were up 27% sequentially, while the company said new orders for tools for storage equipment were “still weak,” but nevertheless were up 147% from the prior quarter, reflecting the bounce back in the disk drive market.
Veeco shares are up $1.15, or 4.6%, at $26.22 in after-hours trading. The shares fell 2% during the regular session.
Picked up starter position 24.00
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 Reply to blacksheep - Msg #14609 - 10/29/2009 09:35
Re: Picked up starter position 24.00
Announces Public Offering of Its Common Stock. Will wait on these for now...
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