UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 11, 2017
VEECO INSTRUMENTS INC.
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction |
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0-16244 (Commission |
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11-2989601 (IRS Employer |
Terminal Drive, Plainview, New York 11803
(Address of principal executive offices)
(516) 677-0200
(Registrants telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events
On December 11, 2017, Veeco Instruments Inc. (Veeco) announced that its Board of Directors had authorized the repurchase of up to $100 million of Veecos outstanding common stock to be completed over the next two years. Repurchases are expected to be made from time to time on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. Further information regarding the authorized repurchase is contained in the press release furnished as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
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Description |
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99.1 |
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Press release issued by Veeco dated December 11, 2017 |
EXHIBIT INDEX
Exhibit |
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Description |
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99.1 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
December 11, 2017 |
VEECO INSTRUMENTS INC. | |
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By: |
/s/ Gregory A. Robbins |
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Name: Gregory A. Robbins | |
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Title: Senior Vice President and General Counsel |
NEWS |
FOR IMMEDIATE RELEASE
VEECO AUTHORIZES $100 MILLION SHARE REPURCHASE PROGRAM
Plainview, N.Y., December 11, 2017 Veeco Instruments Inc. (Nasdaq: VECO) announced that its Board of Directors has authorized the repurchase of up to $100 million of the Companys outstanding common stock to be completed over the next two years. Repurchases are expected to be made from time to time on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions, SEC regulations, and other factors. The repurchases will be funded using the Companys available cash balances and cash generated from future operations. The program does not obligate the Company to acquire any particular amount of common stock and may be modified or suspended at any time at the Companys discretion.
The repurchase program underscores our confidence in longer term growth prospects and our commitment to enhance shareholder value, said John R. Peeler, Chairman and CEO of Veeco. We believe our strong balance sheet provides us with the flexibility to execute share repurchases while continuing to invest in R&D and other opportunities to profitably grow our business.
About Veeco
Veeco (NASDAQ: VECO) is a leading manufacturer of innovative semiconductor process equipment. Our proven MOCVD, lithography, laser annealing, ion beam and single wafer etch & clean technologies play an integral role in producing LEDs for solid-state lighting and displays, and in the fabrication of advanced semiconductor devices. With equipment designed to maximize performance, yield and cost of ownership, Veeco holds technology leadership positions in all these served markets. To learn more about Veecos innovative equipment and services, visit www.veeco.com.
Forward-looking Statements
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 Managements Discussion and Analysis sections of Veecos Annual Report on Form 10-K for the year ended December 31, 2016 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.
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Veeco Instruments Inc. |
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Investors: |
Media: |
Sam Maheshwari |
Jeffrey Pina |
516-677-0200 x1472 |
516-677-0200 x1222 |
investorrelations@veeco.com |
jpina@veeco.com |
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