Veeco Instruments Inc.

Good afternoon, and welcome to the VECO Instruments Q3 2023 earnings call. Today's conference is being recorded. Now at this time, I would like to turn the conference over to Anthony Papone, Head of Investor Relations. Please go ahead.

Thank you, and good afternoon, everyone. Joining me on the call today are Bill Miller, VECO's Chief Executive Officer, and John Kiernan, our Chief Financial Officer. Today's earnings release is available on the VECO website. Please note that we have prepared a slide presentation to accompany today's webcast. We encourage you to follow along with the slides on vico.com. This call is being recorded by Vico Instruments and is copyrighted material. It cannot be recorded or rebroadcast without Vico's express permission. Your participation implies consent to our recording. To the extent that this call discusses expectations about market conditions, market acceptance, and future sales of the company's products, future disclosures, future earnings expectations, or otherwise make 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 are discussed in the business description, management's discussion and analysis, and risk factors sections of the company's report on Form 10-K and annual report to shareholders and in our subsequent quarterly reports on Form 10Q, current reports on Form 8K, and press releases. VECO does not undertake any obligation to update any forward-looking statements, including those made on this call, to reflect future events or circumstances after the date of such statements. During this call, management will discuss non-GAAP financial measures. Information regarding such non-GAAP financial measures, including reconciliation to GAAP measures of performance, is available on our website. With that, I will turn the call over to our CEO, Bill Miller.

Thank you, Anthony. Good afternoon, everyone, and thank you for joining our call today. Today, I'll take you through our third quarter highlights, provide an update on our markets, and discuss a few significant growth opportunities in more detail. John will provide a financial update and guidance, and then we'll be happy to take questions. PECO reported another quarter of strong top and bottom line results. Revenue totaled $177 million and non-GAAP EPS of 53 cents, each above the high end of our guidance range. Our solid financial results were driven by continued strength in our semiconductor business and sequential growth in our data storage business. In addition to our strong results, we're also excited to share several key business wins. First, we shipped multiple laser annealing systems to our leading Tier 1 logic and memory customers. Second, we received our first laser annealing system order for a new application to serve the automotive market. Third, we received our first low defect density ion beam deposition system order for a new EUV pellicle mask blank application. And we continue to make progress with our nanosecond annealing and ion beam deposition products for wafer-level semiconductor manufacturing. As you may have seen in our press release today, Veco announced the shipment of our first nanosecond annealing evaluation system to a Tier 1 Logic customer, representing a substantial milestone for our company. Further advancement of our laser annealing roadmap is an exciting piece of our strategy.