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Segment Reporting and Geographic Information
 6 Months Ended
Jun. 30, 2017
Segment Reporting and Geographic Information  
Segment Reporting and Geographic Information

 

Note 10 - Segment Reporting and Geographic Information

 

Veeco operates and measures its results in one operating segment and continues to do so with the integration of Ultratech’s business activities. As a result, the Company has one reportable segment: the design, development, manufacture, and support of semiconductor process equipment primarily sold to make electronic devices.

 

Veeco categorizes its revenue by the key markets into which it sells.  As a result of the acquisition of Ultratech, the Company’s four key markets are now: Lighting, Display & Power Electronics; Advanced Packaging, MEMS & RF; Scientific & Industrial, which now includes Data Storage, which was formerly a separate category; and Front-End Semiconductor, which was formerly included in the Scientific & Industrial market category.

 

Lighting, Display & Power Electronics

 

Lighting refers to Light Emitting Diode (“LED”) and semiconductor illumination sources used in various applications including, but not limited to, displays such as backlights, general lighting, automotive running lights, and head lamps.

 

Display refers to LEDs used for displays and Organic Light Emitting Diode (“OLED”) displays found in outdoor display/signage applications, smartphones, wearable devices, and tablets. Power Electronics refers to semiconductor devices such as rectifiers, inverters, and converters for the control and conversion of electric power.

 

Advanced Packaging, MEMS & RF (Mobility)

 

Advanced Packaging includes a portfolio of wafer-level assembly technologies that enable the miniaturization and performance improvement of electronic products, such as smartphones, smartwatches, tablets, and laptops. Micro-Electro Mechanical Systems (“MEMS”) includes tiny mechanical devices such as sensors, switches, mirrors, and actuators embedded in semiconductor chips used in vehicles, smartphones, tablets, and games. Radio Frequency (“RF”) includes semiconductor devices that make use of radio waves (RF fields) for wireless broadcasting and/or communications.

 

Scientific & Industrial

 

Scientific refers to advanced materials research at university research institutions, industry research institutions, industry consortiums, and government research agencies. Industrial refers to large-scale product manufacturing applications including high powered lasers, data storage, and optical coatings: thin layers of material deposited on a lens or mirror that alters how light reflects and transmits.

 

Front-End Semiconductor

 

Front-End Semiconductor refers to the early steps in the process of integrated circuit fabrication where the microchips are created but still remain on the silicon wafer. This includes the photomask market, which is an opaque plate that allows light to shine through in a defined pattern for use in lithography.

 

Sales by end-market and geographic region for the three and six months ended June 30, 2017 and 2016 were as follows:

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

 

 

(in thousands)

 

Sales by end-market

 

 

 

 

 

 

 

 

 

Lighting, Display & Power Electronics

 

$
56,199

 

$
24,762

 

$
110,393

 

$
47,705

 

Advanced Packaging, MEMS & RF

 
21,426

 
17,045

 
32,983

 
40,308

 

Scientific & Industrial

 
27,033

 
31,779

 
54,209

 
62,582

 

Front-End Semiconductor

 
10,408

 
1,762

 
11,867

 
2,764

 

 

 

 

 

 

 

 

 

 

 

Total

 

$
115,066

 

$
75,348

 

$
209,452

 

$
153,359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales by geographic region

 

 

 

 

 

 

 

 

 

United States

 

$
21,245

 

$
20,734

 

$
38,533

 

$
47,446

 

China

 
26,287

 
24,582

 
66,613

 
33,383

 

EMEA(1)

 
18,002

 
14,834

 
40,069

 
42,296

 

Rest of World

 
49,532

 
15,198

 
64,237

 
30,234

 

 

 

 

 

 

 

 

 

 

 

Total

 

$
115,066

 

$
75,348

 

$
209,452

 

$
153,359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) EMEA consists of Europe, the Middle East, and Africa

 

For geographic reporting, sales are attributed to the location in which the customer facility is located.