Veeco GEN10 System Continues to Make Traction Capping Record Year for Veeco MBE
February 16, 2010
St. Paul, MN, February 16, 2010 — Veeco Instruments Inc. (Nasdaq: VECO) announced today that its Molecular Beam Epitaxy (MBE) business had a strong close to 2009, resulting in the fourth year of consecutive revenue growth. In addition, Veeco also announced that it is seeing favorable recognition worldwide for its automated growth module cluster tool systems, including the most recently introduced GEN10 ™.
“We’re energized that we had another strong year in our MBE business, despite the state of the worldwide economy,” said Jim Northup, Vice President and General Manager, Veeco MBE. “As the number one manufacturer of MBE, we continue to take a leadership role advancing this important technology. Our successful introduction of the GEN10 for R&D applications last year is the most recent example of Veeco’s technology leadership.”
Among recent orders, Professor Sergey Nikishin of Texas Tech University, purchased an automated GEN10 R&D system during the fourth quarter of 2009 and stated, “I am looking forward to utilizing the Veeco GEN10 to further advance our highly recognized GaN research. Veeco’s components technology and proven nitride performance, along with the automation, were key factors in our decision.”
With focus on maximum efficiency and the need for independent growth of multiple incompatible materials in a single system architecture, Veeco is seeing an increase in the ramp of orders of its enabling cluster tool systems. 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. Orders over the last year position the GEN10 into all major applications for MBE, including those related to III-Vs, oxides and nitrides.
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.