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Good morning,

Yesterday Veeco Instruments reported financial results for the third quarter and nine months ended September 30, 1999. Veeco's pending merger with Ion Tech, Inc. has received Hart-Scott-Rodino clearance, and is expected to close in the next two weeks. Ion Tech is not reflected in these results.

Veeco's sales for the third quarter of 1999 were a record $58.8 million, an increase of 16% compared with the $50.5 million for the corresponding quarter of 1998. Veeco's Process Equipment sales were $23.6 million, a 51% increase over the third quarter of 1998, and Metrology's quarterly sales increased 3% to $31.1 million.

Operating income for the third quarter of 1999 was $9.1 million, an increase of 44% when compared with the $6.3 million reported in the third quarter of 1998. Net income for the third quarter of 1999 was $6.3 million, a 50% increase over the $4.2 million reported in the third quarter of 1998. Diluted earnings per share for the third quarter of 1999 was $0.39 per share, a 34% increase over the $0.29 per share reported in the third quarter of 1998.

Click on the news link above to read the full press release.

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