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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 21, 1999
VEECO INSTRUMENTS INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-16244 11-298960l
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
Terminal Drive, Plainview, New York 11803
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (516) 349-8300
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. OTHER EVENTS.
Reference is made to the Registrant's press release dated January 21,
1999, incorporated herein by reference and included as an exhibit
hereto.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
Exhibit No. Exhibit
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20 Press Release of the Registrant, dated January 21, 1999
(filed herewith).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VEECO INSTRUMENTS INC.
Date: January 22, 1999 By: /s/ Edward H. Braun
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Edward H. Braun
Chairman, Chief Executive
Officer and President
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EXHIBIT INDEX
Exhibit
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20 Press Release of the Registrant, dated January 21, 1999.
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Exhibit 20
[LETTERHEAD OF VEECO]
VEECO INSTRUMENTS REPORTS FOURTH QUARTER
AND YEAR END 1998 SALES AND BOOKINGS
PLAINVIEW, NY, January 21, 1999 - Veeco Instruments Inc. (NASDAQ: VECO),
today reported unaudited sales and bookings figures for the fourth quarter
and year ended December 31, 1998. Historical financial results have been
restated to reflect the merger of Veeco and Digital Instruments, which closed
on May 29, 1998, using the pooling of interests accounting method.
FOURTH QUARTER REVIEW
Veeco's sales for the fourth quarter of 1998 were approximately $51
million, compared with sales of approximately $58 million for the
corresponding quarter of 1997. Metrology sales decreased 14% in the fourth
quarter of 1998 compared to the 1997 fourth quarter and Process Equipment
sales decreased 8% during the same time period.
Veeco's fourth quarter orders were approximately $62 million, compared
with orders of approximately $51 million reported in the fourth quarter of
1997. Metrology orders increased 4% compared to the 1997 fourth quarter and
Process Equipment orders increased 117%. The book/bill ratio was 1.20 for the
fourth quarter of 1998.
YEAR-END REVIEW
Veeco's sales for the year ended December 31, 1998 were approximately
$207 million, compared to approximately $217 million in 1997. Metrology sales
increased 12% during 1998 compared with 1997, and Process Equipment sales
decreased 28%.
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Orders for the year approximately $221 million compared with
approximately $219 million in 1997. Metrology orders increased 12% in 1998
compared with 1997, while Process Equipment orders decreased 7%. The book/bill
ratio was 1.07 for the year ended December 31, 1998.
VEECO EXPECTS TO RELEASE ITS FOURTH QUARTER AND YEAR-END 1998 RESULTS
AFTER THE CLOSE OF THE MARKET ON FEBRUARY 9, 1999, UPON COMPLETION OF ITS
ANNUAL AUDIT BY THE COMPANY'S INDEPENDENT ACCOUNTANTS.
Veeco Instruments Inc., headquartered in Plainview, New York, sells
Metrology tools to customers in the data storage and semiconductor
industries, and Process Equipment etch and deposition tools to customers in
the data storage industry.
Investor and Financial Media Contact:
Debra Wasser
(516) 349-8300 ext. 1472
Trade Media Contact:
Fran Brennen
(516) 349-8300 ext. 1222
