Veeco Instruments Inc. (ticker: VECO, exchange: NASDAQ Global Market (.O))
News Release -
Veeco MBE Receives Five System Orders in Q4 2008
Order Volumes Ramp for Cluster Tool Systems
St. Paul, MN, February 10, 2009 — Veeco Instruments Inc. (Nasdaq: VECO) announced today that it received five Molecular Beam Epitaxy (MBE) systems orders during the fourth quarter of 2008, and over the past 12 months has seen an increase in orders for its multiple growth module cluster tool systems. The orders extend across the complete Veeco systems product line. These systems were sold to global customers in the U.S., Asia and Europe.
The systems ordered are planned for a wide range of research and development efforts. Customers' applications of MBE technology include emerging material research, LEDs and next generation devices for the optical and solar markets.
With the increase in next generation applications that require incompatible material processing, Veeco has seen a ramp in orders due to the innovative architecture of its cluster tool systems. The system design has been recognized within the industry as it can support multiple independent growth modules for reliable, efficient automated growth. The GEN10 for R&D is the most recent introduction to the robust Veeco cluster tool product line, built upon nine years of cumulative knowledge within various production environments.
"The strong level of business activity over this past year, including a record order rate in the fourth quarter and a third consecutive year of market share growth, is exciting and evidence that our customers appreciate the value Veeco provides," says Jeffrey Hohn, Vice President and General Manager, Veeco MBE Operations. "We thank our customers for choosing Veeco's products to meet their R&D and production requirements as a capable, dependable platform."
Veeco Instruments Inc. designs, manufactures, markets and services enabling solutions for customers in the HB-LED, solar, data storage, semiconductor, scientific research and industrial markets. We have leading technology positions in our three businesses: LED & Solar Process Equipment, Data Storage Process Equipment, and Metrology Instruments. Veeco's product development, marketing, engineering and manufacturing facilities are located in New York, New Jersey, California, Colorado, Arizona, Massachusetts and Minnesota. Global sales and service offices are located throughout the U.S., Europe, Japan and Asia Pacific. http://www.veeco.com/
To the extent that this news release discusses expectations or otherwise makes 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. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2009 and in our subsequent quarterly reports 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 to reflect future events or circumstances after the date of such statements.