VEECO 2003 INVESTMENT THEMES
We are a leading supplier of enabling nanoscale technology to diverse information age and scientific research markets (multiple markets offset individual volatility)
A diverse market and product mix allows Veeco a broader customer base than most other semi equipment companies.
Our Company was founded in 1990 and went public in 1994 at approximately $100M in sales
Have grown organically as well as through strategic acquisitions to expand our technology portfolio
Q1 2003 at a revenue “bottom” with significantly reduced cost structure…well positioned for leveraged earnings growth in 2003…(EBITA breakeven $60M/qtr; orders at $72M)
Q1 Gross Margin up 7%, EBITA up $6M…cost reduction plan…”on track”