Investor Presentaiton
Supplemental Information-GAAP to Non-GAAP Reconciliation
In millions
Net sales
GAAP gross profit
GAAP gross margin
Add: Release of inventory fair value step-up for
purchase accounting
Add: Share-based comp
Add: Depreciation of PP&E fair value step-up for
purchase accounting
Q1 21
Q4 20
2020
2019
2018
In millions, except per share amounts
$133.7
$138.9
$454.2
$419.3
$542.1
54.9
56.8
194.31
158.2
193.7
GAAP Basic weighted average shares
GAAP Diluted weighted average shares
41.1%
40.9%
42.8%
37.7%
35.7%
GAAP Basic EPS
0.3
1.3
2.5
GAAP Diluted EPS
GAAP Net income (loss)
0.5
0.5
1.9
1.9
1.9
Add: Share-based comp
-
0.2
0.3
Add: Amortization
Q1 21
Q4 20
2020
2019
2018
48.6
48.3
48.4
47.5
47.2
53.1
48.3
48.4
47.5
47.2
$0.05
$(0.00)
$(0.17)
$(1.66)
$(8.63)
$0.05
$(0.00)
$(0.17)
$(1.66)
$(8.63)
$2.5
S(0.1)
S(8.4)
$(78.7)
$(407.1)
3.2
3.1
12.7
15.3
16.1
3.4
3.8
15.3
17.1
32.4
-
-
1.1
6.0
7.4
Non-GAAP gross profit
Non-GAAP gross margin
$55.4
$57.4
$196.5
$161.6
$198.5
Add: Restructuring
41.5%
41.3%
43.3%
38.5%
36.6%
Add: Acquisition related
3.0
-
Add: Asset impairment
0.3
4.0
375.2
In millions
Q1 21
Q4 20
2020
2019
2018
GAAP Net income (loss).
$2.5
$(0.1)
S(8.4)
$(78.7)
$(407.1)
Add: Release of inventory fair value step-up for purchase accounting
Add: Depreciation of PP&E fair value step-up for purchase accounting
Add: Accelerated depreciation
-
-
0.3
1.3
2.5
0.1
0.1
0.2
0.6
1.0
-
-
0.4
1.2
Add: Share-based comp
3.2
3.1.
12.7
15.3
16.1
Add: Non-cash interest expense
3.5
3.5
13.8
12.7
11.8
Add: Amortization
3.4
3.8
15.3
17.1
32.4
Add: Other income (expense), net
4.8
7.8
21.0
Add: Restructuring
1.1
6.0
7.4
Add: Tax adjustment from GAAP to Non-GAAP
Add: Asset impairment
0.3
4.0
375.2
(0.1)
(0.3)
(0.8)
(0.8)
(29.1)
Non-GAAP net income (loss)
$12.6
$15.0
$42.3
S(1.3)
14.2
Add: Release of inventory fair value step-up for
purchase accounting
Add: Depreciation of PP&E fair value step-up for
purchase accounting
-
0.3
1.3
2.5
Non-GAAP basic EPS
$0.26
$0.31
$0.88
$(0.03)
$0.30
0.1
0.1
0.2
0.6
1.0
Non-GAAP diluted EPS
$0.25
$0.30
$0.86
$(0.03)
$0.30
Add: Accelerated depreciation
-
0.4
1.2
Non-GAAP basic weighted average shares
48.6
48.3
48.4
47.5
47.2
Add: Acquisition related
-
-
3.0
Non-GAAP diluted weighted average shares
50.9
49.7
49.31
47.5
47.2
Add: Interest expense
6.6
6.5
23.2
17.4
18.3
In millions
Q1 21
Q4 20
2020
2019
2018
Add: Other income (expense), net
4.8
7.8
21.0
GAAP operating expenses
$45.5
$46.2
$171.7
$197.8
$609.2
Add: Tax expense (benefit)
0.3
(0.6)
(0.1)
0.8
(26.7)
Share-based compensation
(2.7)
(2.7)
(10.8)
(13.4)
(14.2)
Non-GAAP operating income (loss)
$16.1
$17.6
$52.5
$5.1
$23.2
Amortization
(3.4)
(3.8)
(15.3)
(17.1)
(32.4)
Asset impairment
-
-
-
(4.0)
(375.2)
Other
(0.1)
(1.5)
(6.8)
(12.1)
Non-GAAP operating expenses
$39.3
$39.7
$144.0
$156.5
$175.3
30 Investor Presentation
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2021 Veeco Instruments Inc.
Amounts may not calculate precisely due to rounding.
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