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Veeco Instruments Q2 Loss Narrows

Veeco Instruments Inc. (VECO) reported that its net loss for the second quarter ended June 30, 2020 narrowed to $8.3 million or $0.17 per share from $15.57 million or $0.33 per share in the prior year.

Non-GAAP net income for the latest-quarter was $5.5 million or $0.11 per share.

Revenues rose to $98.6 million, from $97.8 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share and revenues of $97.83 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter 2020, the company expects GAAP results per share to be in the range of loss $0.12 to earnings $0.04; Non-GAAP earnings per share of $0.10 to $0.26, and revenue of $100 million to $120 million. Analysts expect the company to report earnings of $0.16 per share and revenues of $110.95 million for the quarter.

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