2022年第2季度財務業績電話會議 版權所有©2022威視儀器公司。保留所有權利。 1 威視(納斯達克代碼:Veco) 2022年8月8日 第二季度 財務業績 電話會議 |
2022年第2季度財務業績電話會議 版權所有Harbor This presentation contains “forward - looking statements”,©2022 Veeco Instruments Inc.保留所有權利。 2 2 Safe Inc. within the meaning of the safe harbor provisions of the U . S . Private Securities Litigation Reform Act of 1995 , 已修改, that are based on management’s expectations, 預計, projections and assumptions . Words such as “expects,“ ”預計,“ ”計劃,“ ”相信,“ ”已安排,” “estimates” and variations of these words and similar expressions are intended to identify forward - looking statements . Forward - looking statements include, 但 不限於 , those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, our investment and growth strategies, our development of new products and technologies, our business outlook for current and future periods, the impact of the COVID - 19 pandemic, our ongoing transformation initiative and the effects thereof on our operations and financial results ; and other statements that are not historical facts . These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance . Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation : the level of demand for our products ; global economic and industry conditions ; the effects of regional or global health epidemics, including the effects of the COVID - 19 pandemic on the Company’s operations and on those of our customers and suppliers ; 全球 交易 問題, including the ongoing trade disputes between the U . S . and China, and changes in trade and export license policies ; our dependency on third - party suppliers and outsourcing partners ; the timing of customer orders ; our ability to develop, deliver and support new products and technologies ; our ability to expand our current markets, increase market share and develop new markets ; the concentrated nature of our customer base ; our ability to obtain and protect intellectual property rights in key technologies ; our ability to achieve the objectives of operational and strategic initiatives and attract, motivate and retain key employees ; the variability of results among products and end - markets, and our ability to accurately forecast future results, 市場條件、 和 客户 需求 ; the impact of our indebtedness, including our convertible senior notes and our capped call transactions ; and other risks and uncertainties described in our SEC filings on Forms 10 - K, 10 - Q 和 8 - K, and from time - to - time in our other SEC reports . All forward - looking statements speak only to management’s expectations, 估計, projections and assumptions as of the date of this presentation . The Company does not undertake any obligation to update or publicly revise any forward - looking statements to reflect events, circumstances or changes in expectations after the date of this presentation . |
2022年第二季度財務業績電話會議 版權所有©2022 Veeco Instruments Inc.保留所有權利。 3 CEO概述 和市場 更新 比爾·米勒 |
2022年第二季度財務業績電話會議 版權所有Highlights $164M $23M 35¢ Revenue Non - GAAP Operating 2022©2022 Veeco Instruments Inc.保留所有權利。 4 4 2022年第2季度GAAP收入 攤薄 非 - GAAP EPS 另一個創紀錄的季度半導體收入 · 對我們產品的需求繼續超過供應 }- 積壓增長 · 發佈的2021年可持續發展報告 · 供應鏈挑戰持續存在 儘管供應鏈挑戰持續存在,但季度業績穩健 GAAP與非 - 財務指標的對賬可在本演示的備份部分找到。 |
2022年第2季度財務業績電話會議 版權所有©2022 Veeco Instruments Inc.保留所有權利。 5 5 移動性和 身臨其境的用户 體驗 使用 5G、傳感器、高級 顯示 雲 高速 通信和 海量數據存儲 與Megatrends Compound Semiconductor Semiconductor Growth市場保持一致的差異化技術 汽車的核心Technologies Megatrends Laser Annealing AP Lithography Ion Beam Wet Processing MOCVD Transformation 行業電氣化和 自主 改進 高性能 計算/AI 更快、更高效的計算,以實現大規模數據 中心應用和 人工智能 數據存儲 離子束沉積 離子束 蝕刻 AI - 人工智能 5G - 第五代無線技術 AP - 高級封裝 MOCVD - 金屬有機化學氣相沉積 |
2022年第2季度財務業績電話會議 版權所有capability ▪ Safety ▪ Culture ▪ 10% - 17%©2022 Veeco Instruments Inc.保留所有權利。 6 6 2022優先事項 - 執行我們的增長計劃 保護 ▪ 容量擴展 ▪ 新技術 評估 ▪ 服務Veeco收入 增長 Supply chain ▪ Quality ▪ Delivery ▪ Evaluations Growth& ▪ 轉型後的公司處於加速增長軌道上 執行 創新和投資 戰略執行 |
2022年第二季度財務業績電話會議 版權所有©2022威視儀器公司。保留所有權利。 7 首席財務官財務審查 約翰·基爾南 |
2022年第2季度財務業績電話會議 版權所有& Other Semiconductor Compound Semiconductor Data 2022©Inc.保留所有權利。 8 8 2022年第2季度按市場和地區劃分的收入 60% 19% 13% 8% 按地區劃分的收入 按地區劃分的收入 科學& Other Semiconductor Compound Semiconductor Data存儲 30% 35% 17% 17% 歐洲、中東和非洲地區 中國 美國 亞太地區剩餘收入 $1.64億 收入趨勢($M) 第二季度21 第一季度22 第二季度22 Semiconductor 54 78 98 Compound半 24 37 31 數據存儲 52 22 22 科學與其他 16 20 14 總計 146 156 164 由於四捨五入,金額可能計算不準確。 行為1% |
2022年第二季度財務業績電話會議 版權所有22 Revenue $156.4 $164.0 $156.4 $164.0 Gross 2022©Inc.保留所有權利。 9 9 第二季度經營業績 (不包括每股金額) 公認會計準則 非 - 公認會計準則 第一季度22 第二季度22 第一季度22 第二季度Veeco利潤 66.0 64.3 67.5 66.2 Margin 42.2% 39.2% 43.1% 40.3% Operating Expenses 49.5 51.4 42.8 43.2 Operating總收入 16.5 12.8 24.7 23.0 淨收入 13.3 9.7 21.7 20.0 由於四捨五入的原因,可能無法準確計算每Share $0.24 $0.18 $0.38 $0.35 Diluted Shares 65.3 59.5 63.6 63.3 Amounts的攤薄收益。可在本演示文稿的備份部分找到GAAP與非 - GAAP財務指標的對賬。 |
2022年第二季度財務業績電話會議 版權所有Receivable 99 127 Inventories 179 176 Accounts©2022 Veeco Instruments Inc.保留所有權利。 10 10 資產負債表和現金流亮點 $數百萬 第一季度22 第二季度22 現金和短期 - 長期投資 232 231 應付帳款 56 47 長 - 包括當前部分的定期債務 274 運營現金流 25 3 由於四捨五入,DSO(days) 57 70 DIO 174 160 DPO 57 43 Amounts可能無法準確計算。可在本演示文稿的備份部分找到GAAP與非 - GAAP財務指標的對賬。 |
2022年第2季度財務業績電話會議 版權所有Guidance GAAP Non - GAAP Revenue $160M - $180M $160M - $180M Gross Margin 40% - 42% 41% - 43% Operating 2022©Inc.保留所有權利。 11 11 2022年第3季度財務支出 $5300萬 - $5500萬 $4500萬 - $4700萬 公認會計原則與非Income $7M - $17M $18M - $28M Diluted對帳的每Share $0.14 – $0.30 $0.32 - $0.48 A淨收益 - 公認會計原則財務指標可在本演示文稿的備份部分中找到。 |
2022年第2季度財務業績電話會議 版權所有©2022威視儀器公司。保留所有權利。 12 謝謝您 問答 |
2022年第二季度財務業績電話會議 版權所有©2022 Veeco Instruments Inc.保留所有權利。 13 備份和 財務表格 |
2022年第二季度財務業績電話會議 版權所有End - Market $M 2019 2020 2021 2022 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4{©2022 Veeco Instruments Inc.保留所有權利。 14 14 由Veeco提供的歷史收入Br}FY Q1 Q2 Semiconductor 44.6 37.8 41.8 51.3 175.6 37.4 37.5 33.6 57.4 165.9 51.6 53.7 76.3 65.4 247.1 77.6 97.5 複合Semi 15.0 16.4 26.3 28.1 85.9 18.4 17.8 26.6 45.2 107.9 24.8 24.2 23.3 34.7 107.0 37.1 31.1 Data存儲 19.6 22.7 24.1 17.6 84.1 38.9 28.3 36.9 19.2 123.3 41.0 52.0 39.3 36.5 168.8 21.6 21.5 Scientific& 其他 20.2 20.8 16.6 16.2 73.8 9.8 15.1 15.0 17.1 57.0 16.4 16.4 11.4 16.3 60.5 20.1 13.8 Total 99.4 97.8 109.0 113.2 419.3 104由於四捨五入的原因,.5 98.6 112.1 138.9 454.2 133.7 146.3 150.2 153.0 583.3 156.4 164.0 Amounts可能計算不準確。 |
2022年第二季度財務業績電話會議 版權所有©2022 Veeco Inc.保留所有權利。 15 15 截至2022年6月30日的可轉換票據 (1) 2027可轉換票據的轉換價格包括 上限看漲交易的影響 (2) 加權平均 (3) 反映採用ASU 2020的情況 - 06,1月1日生效2022 由於四捨五入,金額可能無法準確計算。 可轉換債務 本金 賬面價值 息票 年現金 利息 年非 - 現金 利息 3 初始轉換 價格 1月到期的可轉換票據2023 $20M $20M 2.7% $0.5M $0.1M $40.03 Convertible票據將於2025年1月到期 $133M $131M 3.5% $4.7M $0.5M $24.00 Convertible票據將於6月到期2027 $125M $123M 3.75% $4.6M $0.4M $18.46 1 Total可轉換Debt $278M $274M 3.6% 2 $9.8M $1.0M |
2022年第二季度財務業績電話會議 版權所有©2022 Veeco Instruments Inc.保留所有權利。 16 16 新會計準則對稀釋每股收益的影響(2022年第一季度生效) 基於當前未償還票據。上述計算僅供估計,並反映將IF - co 轉換方法用於稀釋每股收益目的,公司現在要求在採用ASU 2020 - 06時使用該方法,自2022年第一季度起生效。上面提到的每股收益閾值代表了不同的範圍,在這些範圍內,我們的一些票據可能會變得不受歡迎。如果增加此類股份(並減少 利息支出)將是反 - 稀釋的,則不會增加任何股份用於稀釋目的。 *非 - GAAP增量稀釋股份包括與我們的2027年票據同時發行的公司上限看漲交易的影響,並假設每股股票平均價格高於$18.46. Quarterly GAAP Non - GAAP* EPS閾值 票據 減記利息支出 用於每股收益計算 (千) 遞增稀釋性 股份** (以千計) 每股收益閾值之前 票據 減息 用於每股收益計算 (以千計) 遞增稀釋性 股票** (千股) ≥$0.14 |
2022年第二季度財務業績電話會議 版權所有Tables These tables include financial measures adjusted for the impact of certain items ;2022©Veeco Instruments Inc.保留所有權利。 17 17 關於調節Veeco的説明 these financial measures are therefore not calculated in accordance with U . S . generally accepted accounting principles (“GAAP”) . These Non - GAAP financial measures exclude items such as : share - based compensation expense ; charges relating to restructuring initiatives ; non - cash asset impairments ; certain other non - operating gains and losses ; and acquisition - related items such as transaction costs, non - cash amortization of acquired intangible assets, incremental transaction - related compensation, and certain integration costs . These Non - GAAP financial measures may be different from Non - GAAP financial measures used by other companies . Non - GAAP financial Measures should not be considered a substitute for, 或 高於 measures of financial performance prepared in accordance with GAAP . By excluding these items,的 Non - GAAP financial measures are intended to facilitate meaningful comparisons to historical operating results, 競爭對手的 運營 業績, and estimates made by securities analysts . Management is evaluated on key performance metrics including Non - GAAP Operating Income, which is used to determine management incentive compensation as well as to forecast future periods . These Non - GAAP financial measures may be useful to investors in allowing For greater transparency of supplemental information used by management in its financial and operational decision - making . In addition, similar Non - GAAP financial measures have historically been reported to investors ; the inclusion of comparable numbers provides consistency in financial reporting . Investors are encouraged to review the reconciliation of the Non - GAAP financial measures used in this news release to their most directly comparable GAAP financial measures . |
Q2 2022 Financial Results Conference Call Copyright © 2022 Veeco Instruments Inc. All Rights Reserved. 18 18 Supplemental Information — GAAP to Non - GAAP Reconciliation Amounts may not calculate precisely due to rounding. In millions Q1 22 Q2 22 Net sales $156.4 $164.0 GAAP gross profit 66.0 64.3 GAAP gross margin 42.2% 39.2% Add: Share - based comp 0.9 1.3 Add: Other 0.5 0.7 Non - GAAP gross profit $67.5 $66.2 Non - GAAP gross margin 43.1% 40.3% In millions Q1 22 Q2 22 GAAP Net income $13.3 $9.7 Add: Share - b ased comp 4.5 6.3 Add: Amortization 2.5 2.5 Add: Transition expenses related to San Jose expansion project 1.2 1.3 Add: Depreciation of PP&E fair value step - up for purchase accounting 0.1 0.1 Add: Interest expense 2.8 2.6 Add: Tax expense (benefit) 0.4 0.5 Non - GAAP operating income $24.7 $23.0 In millions, except per share amounts Q1 22 Q2 22 GAAP Basic weighted average shares 49.6 49.7 GAAP Diluted weighted average shares 65.3 59.5 GAAP Basic EPS $0.27 $0.19 GAAP Diluted EPS $0.24 $0.18 GAAP Net income $13.3 $9.7 Add: Share - based comp 4.5 6.3 Add: Amortization 2.5 2.5 Add: Transition expenses related to San Jose expansion project 1.2 1.3 Add: Depreciation of PP&E fair value step - up for purchase accounting 0.1 0.1 Add: Non - cash interest expense 0.2 0.2 Add: Tax adjustment from GAAP to Non - GAAP (0.1) (0.1) Non - GAAP net income $21.7 $20.0 Non - GAAP basic EPS $0.44 $0.40 Non - GAAP diluted EPS $0.38 $0.35 Non - GAAP basic weighted average shares 49.6 49.7 Non - GAAP diluted weighted average shares 63.6 63.3 |
Q2 2022 Financial Results Conference Call Copyright © 2022 Veeco Instruments Inc. All Rights Reserved. 19 19 Reconciliation of GAAP to non - GAAP Financial Data Non - GAAP Adjustments GAAP Share - Based Compensation Amortization Other Non - GAAP Net Sales $164.0 $164.0 Gross Profit 64.3 1.3 — 0.7 66.2 Gross Margin 39.2% 40.3% Operating Expenses $51.4 (5.0) (2.5) (0.7) $43.2 Operating Income $12.8 6.3 2.5 1.4 $23.0 Net Income $9.7 6.3 2.5 1.5 $20.0 Q2 2022 Actual: GAAP to Non - GAAP Reconciliation (in millions, except per share amounts) Amounts may not calculate precisely due to rounding. Income per Diluted Common Share GAAP Non - GAAP Net Income $9.7 $20.0 Add: Interest on Convertible Senior Notes 1.3 2.5 Net income available to common shareholders 10.9 22.4 Basic weighted average common shares 49.7 49.7 Add: Dilutive effect of share - based awards 0.8 0.8 Add: Dilutive effect of 2023 Convertible Senior Notes - 0.5 Add: Dilutive effect of 2025 Convertible Senior Notes - 5.5 Add: Dilutive effect of 2027 Convertible Senior Notes 8.9 6.8 Diluted weighted average common shares 59.5 63.3 Basic income per common share $0.19 $0.40 Diluted income per common share $0.18 $0.35 Other Non - GAAP Adjustments Transition expenses related to San Jose expansion project $1.3 Depreciation of PPE fair value step - up associated with the Ultratech purchase accounting 0.1 Subtotal 1.4 Non - cash Interest Expense 0.2 Non - GAAP tax adjustment (0.1) Total Other $1.5 |
Q2 2022 Financial Results Conference Call Copyright © 2022 Veeco Instruments Inc. All Rights Reserved. 20 20 Reconciliation of GAAP to non - GAAP Financial Data Non - GAAP Adjustments GAAP Share - Based Compensation Amortization Other Non - GAAP Net Sales $160 – $180 $160 – $180 Gross Profit 64 – 75 1 — 1 66 – 77 Gross Margin 40% – 42% 41% – 43% Operating Expenses $53 – $55 (5) (3) (1) $45 – $47 Operating Income $11 – $20 6 3 1 $21 – $30 Net Income $7 – $17 6 3 2 $18 – $28 Income per Diluted Share $0.14 – $0.30 $0.32 – $0.48 Q3 2022 Guidance (in millions, except per share amounts) Amounts may not calculate precisely due to rounding. Income per Diluted Common Share GAAP Non - GAAP Net Income $7 – $17 $18 – $28 Add: Interest on Convertible Senior Notes 1 - 3 2 Net income available to common shareholders 8 - 20 20 - 30 Basic weighted average common shares 50 50 Add: Dilutive effect of share - based awards 1 1 Add: Dilutive effect of 2023 Convertible Senior Notes - - Add: Dilutive effect of 2025 Convertible Senior Notes 0 - 6 6 Add: Dilutive effect of 2027 Convertible Senior Notes 9 7 Diluted weighted average common shares 60 - 66 64 Income per diluted common share $0.14 - $0.30 $0.32 - $0.48 Reconciliation of GAAP Net Income to non - GAAP Operating Income GAAP Net Income $7 – $17 Share - Based Compensation 6 Amortization 3 Interest Expense, Net 3 Other 2 - 1 Non - GAAP Operating Income $21 – $30 |