Exhibit 99.1
VEECO INSTRUMENTS INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS, EXCEPT PER SHARE DATA)
RESTATED FOR SAB 101
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MARCH JUNE SEPT DEC YEAR
2000 2000 2000 2000 TOTAL
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Net sales $86,831 $ 102,324 $ 81,146 $ 116,367 $ 386,668
Cost of sales 46,463 73,329 43,805 64,241 227,838
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Gross profit 40,368 28,995 37,341 52,126 158,830
Costs and Expenses:
Research and development expense 13,345 14,063 13,115 13,381 53,904
Selling, general and administrative expense 17,128 19,158 20,164 22,411 78,861
Other-net (20) 61 496 392 929
Amortization expense 509 976 1,180 1,071 3,736
Merger and reorganization expenses 250 13,956 - - 14,206
Asset impairment charge - 3,722 - - 3,722
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31,212 51,936 34,955 37,255 155,358
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Operating income (loss) 9,156 (22,941) 2,386 14,871 3,472
Interest income, net (385) (136) (407) (379) (1,307)
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Income (loss) before income taxes 9,541 (22,805) 2,793 15,250 4,779
Income tax provision (benefit) 3,593 (8,779) (392) 9,855 4,277
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Net income (loss) before cumulative
effect of change in accounting principle 5,948 (14,026) 3,185 5,395 502
Cumulative effect of change in accounting
principle (net of tax) 18,382 - - - 18,382
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Net income (loss) ($12,434) ($14,026) $3,185 $5,395 ($17,880)
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Net income (loss) per common share before
cumulative effect of change in accounting principle $0.26 ($0.60) $0.13 $0.22 $0.02
Cumulative effect of change in accounting principle (0.80) - - - (0.77)
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Net income (loss) per common share ($0.54) ($0.60) $0.13 $0.22 ($0.75)
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Diluted net income (loss) per common share before
cumulative effect of change in accounting principle $0.26 ($0.60) $0.12 $0.21 $0.02
Cumulative effect of change in accounting principle (0.80) - - - (0.77)
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Diluted net income (loss) per common share ($0.54) ($0.60) $0.12 $0.21 ($0.75)
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Weighted average shares 22,950 23,463 24,098 24,604 23,805
Diluted weighted average shares 22,950 23,463 25,561 25,410 23,805
VEECO INSTRUMENTS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
RESTATED FOR SAB 101
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MARCH JUNE SEPT DEC
2000 2000 2000 2000
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Cash and cash equivalents $ 13,520 $ 13,858 $ 51,642 $ 63,420
Short-term investments 51,490 52,189 52,945 26,895
Accounts and notes receivable, net 87,749 96,443 80,118 98,248
Inventories 98,801 86,644 94,512 100,062
Other current assets 25,230 36,827 60,448 53,610
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TOTAL CURRENT ASSETS 276,790 285,961 339,665 342,235
Net book value of fixed assets 63,422 63,030 60,609 60,094
Excess of cost over net assets acquired 9,437 9,732 9,042 9,481
Other assets, net 17,378 11,304 12,431 11,473
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TOTAL ASSETS $367,027 $370,027 $421,747 $423,283
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Current liabilities 107,793 117,126 129,037 121,772
Long-term liabilities 21,196 20,843 20,504 18,603
Shareholders' equity 238,038 232,058 272,206 282,908
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $367,027 $370,027 $421,747 $423,283
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