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George Bye, Chairman and CEO of Bye Aerospace, says solar energy is a key component to several of Bye Aerospace’s programs. “One concept currently in development, the Silent Guardian unmanned aerial vehicle (UAV), relies on thin film solar photovoltaics, stored electric power and other technologies to enhance its potential for long endurance, quiet operations and low emissions,” he says. “With Ascent Solar as a development partner, our development time should improve drastically.”
Victor Lee, President and CEO of Ascent Solar Technologies, comments, “We are pleased to partner with Bye Aerospace and look forward to furthering their development efforts with our lightweight, durable, flexible thin-film solar modules. Ascent Solar’s transformational technology enables renewable power generation in aircraft applications while adding minimal weight to the vehicle. We are excited to apply our technology in collaboration with Bye Aerospace to develop a new generation of UAVs.”
Veeco revenues slump 40.1% but firm is still making a profit
The III-V compound semiconductor, nitride LED and solar equipment manufacturer says it is experiencing growth in its Data Storage and MBE businesses, and services across all its technologies
Veeco Instruments has announced its financial results for its “continuing operations” in the first quarter ended March 31, 2012.
“As anticipated, we experienced a weak bookings environment in Q1, with total orders of approximately $113 million,” continues Peeler. “LED & Solar orders totalled $85 million, with $70 million in MOCVD and $15 million in MBE. MOCVD orders increased 19% sequentially, with system orders from customers in Korea, China, Taiwan, Japan and North America.”
MBE orders increased 71% sequentially on production orders from wireless customers but data storage bookings declined 62% sequentially to $29 million as customer consolidation activity temporarily stalled capacity investments. Veeco’s book-to-bill ratio was 0.81 to 1 and quarter-end backlog was $305 million.
Second Quarter 2012 Guidance & Outlook
Veeco’s second quarter 2012 revenue is currently forecasted to be between $120 million and $145 million. Earnings per share are currently forecasted to be between $0.20 to $0.40 on a GAAP basis.
John R. Peeler, Veeco’s Chief Executive Officer, comments, “We are executing well during the
Peeler comments, “I am proud of our team’s ability to execute, stay nimble and deliver solid profitability in a tough year. We are experiencing growth in
June 2012
www.compoundsemiconductor.net 85
downturn in MOCVD demand. Veeco’s first quarter revenue reached the top of our guidance at $140 million. Adjusted EBITA and non-GAAP earnings per share were $25 million and $0.49, respectively, on strong performance on the gross margin line and good expense management.”
Veeco generated about $42 million in cash flow from operations, ending the quarter with $524 million in cash and short term investments. First quarter LED & Solar revenues were $96 million, including $82 million in MOCVD and $14 million in MBE. Data Storage revenues were $44 million.
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