Veeco Announces $200 Million Buyback Plan (VECO)

Veeco Instruments Inc. VECO announced today that its Board of Directors has authorized the repurchase of up to $200 million of the Company’s common stock over the next year. “This authorization reflects our continued confidence in and positive outlook for our business,” said John R. Peeler, Veeco’s Chief Executive Officer. “Our strong cash position and cash flow from operations will allow us to execute share repurchases while retaining the flexibility to continue to invest in other opportunities to grow our business. Our Board of Directors strongly believes that Veeco’s stock currently presents an attractive investment for the Company and its stockholders.”