Active Runners: Veeco Instruments Inc. (NASDAQ:VECO) and Sanmina Corp. (NASDAQ:SANM)
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Precision manufacturing equipment manufacturer, Veeco Instruments Inc. (NASDAQ:VECO), shares climbed up on Monday after the company announced that business conditions were enormously challenging in the recently ended quarter, but seems prepared to enhance in the current quarter.
In a statement, CEO John Peeler declared that first-quarter orders of $70 million were the weakest they have witnessed since early 2009.
How Veeco Instruments Attracted investors attention? Find out here
Though, he stated that some customers who make light-emitting diodes are operating at near to complete capacity and have began making rush orders for the first time in two years. Peeler reported that the firm predicts meaningfully superior bookings in the second quarter.
The firm reported that its cash balance enhanced to $588 million at the conclusion of March, in contrast to $579 million three months back.
Shares jumped up $2.52, or 7.8 percent, to $34.75 in after-hours exchanging, following the guidance was launched. In the start, shares ended the normal session lower 27 cents, at $32.23.
How Sanmina Corp. gained investors attention? Find out here
Manufacturing services firm, Sanmina Corp. (NASDAQ:SANM), reported on Monday that it earned $21.2 million in its second fiscal quarter ending March, upturning a loss from a year earlier, as it was assisted by a one-time real estate sale and lesser interest costs.
Net income in the recently ended quarter to March 30 rose to 25 cents per share, overturning a loss of $1.4 million, or 2 cents per share, a year ago same quarter.
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