Veeco Instruments Inc. (NASDAQ:VECO) Q3 2020 Earnings Conference Call - Final Transcript

Oct 27, 2020 • 05:00 pm ET


Veeco Instruments Inc. (NASDAQ:VECO) Q3 2020 Earnings Conference Call - Final Transcript


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Good day and welcome to the Veeco Instruments Incorporated Corporate Hosted Q3 2020 Earnings Call.

At this time, I would like to turn the conference over to Anthony Bencivenga, Investor Relations. Please go ahead, sir.

Anthony Bencivenga

Thank you and good afternoon everyone. Joining me on the call today are Bill Miller, Veeco's Chief Executive Officer and John Kiernan, our Chief Financial Officer. Today's earnings release is available on the Veeco website. Please note that we have prepared a slide presentation to accompany today's webcast. We encourage you to follow along with the slides on

This call is being recorded by Veeco Instruments and is copyrighted material. It cannot be recorded or rebroadcast without Veeco's expressed permission. Your participation implies consent to our recording. To the extent that this call discusses expectations about market conditions, market acceptance and future sales of the company's products, future disclosures, future earnings expectations or otherwise make statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made including as a result of the COVID-19 pandemic.

These factors are discussed in the business description, management's discussion and analysis, and risk factors sections of the company's report on Form 10-K and annual report to shareholders and in our subsequent quarterly report on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements, including those made on this call to reflect future events or circumstances after the date of such statements.

During this call, management may address non-GAAP financial measures. Information regarding such non-GAAP financial measures including reconciliation to GAAP measures of performance is available on our website.

With that, I will turn the call over to Bill for his opening remarks.

William J. Miller

Thank you, Anthony. Good afternoon, everyone. And thank you for joining the call. I hope you and your families are well. I'm excited to talk to you today about the current status of a United Veeco. We're making great progress becoming a more cohesive organization as we implement our two phased strategy. As a result of our team work, determination and accountability, we have been operating remarkably well through this global pandemic. I'm very proud of our Veeco employees worldwide.

As you know, we're investing in our core technologies to drive organic growth. It is this investment which will drive the next phase of Veeco's growth by helping our customers enable a new experience age for consumers with game changing applications like Artificial Intelligence, virtual and augmented reality and Autonomous Driving.

These applications require new device architectures, new materials and higher performance. Veeco has a history of solving difficult materials challenges, which gives us a unique advantage in delivering scalable technology solutions. In short, Veeco is well positioned to play a meaningful role in driving this new age with our customers. Today, I'll take you through our Q3 highlights, John will provide a financial update and guidance,