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Financial report summary
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Veeco Instruments • KLA • Lam Research • Amtech Systems • Intevac • Axcelis • PDF SolutionsRisks
- The industries we serve can be volatile and difficult to predict.
- We are exposed to risks associated with an uncertain global economy.
- We are exposed to the risks of operating a global business.
- Global trade issues and changes in and uncertainties with respect to trade policies and export regulations, including import and export license requirements, trade sanctions, tariffs and international trade disputes, have adversely impacted and could further adversely impact our business and operations, and reduce the competitiveness of our products relative to local and global competitors.
- We are exposed to risks associated with a highly concentrated customer base.
- Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand, could affect our ability to meet customer demand, lead to higher costs, or result in excess or obsolete inventory.
- We are exposed to ongoing changes in the various industries in which we operate.
- We are exposed to ongoing changes specific to the semiconductor industry.
- We are exposed to ongoing changes specific to the display industry.
- The industries in which we operate are highly competitive and subject to rapid technological and market changes.
- We are exposed to risks associated with expanding into new and related markets and industries.
- We are exposed to risks related to the use of artificial intelligence by us and our competitors.
- We are exposed to risks related to protection and enforcement of intellectual property rights.
- We are exposed to cybersecurity threats and incidents.
- We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
- The ability to attract, retain and motivate key employees is vital to our success.
- We operate in jurisdictions with complex and changing tax laws.
- Our indebtedness and debt covenants could adversely affect our financial condition and business.
- The failure to successfully implement enterprise resource planning and other information systems changes could adversely impact our business and operating results.
- We may incur impairment charges related to goodwill or long-lived assets.
- We may not continue to declare cash dividends or repurchase our shares.
- We are exposed to risks related to legal proceedings, claims and investigations.
- We are exposed to risks related to the global regulatory environment.
- Our environmental, social and governance strategies and targets could result in additional costs, and our inability to achieve them could have an adverse impact on our reputation and performance.
- We are subject to risks associated with environmental, health and safety regulations.
Management Discussion
- We provide manufacturing equipment, services and software to the semiconductor, display, and related industries. Our customers include manufacturers of semiconductor wafers and chips, liquid crystal and organic light-emitting diode (OLED) displays, and other electronic devices. These customers may use what they manufacture in their own end products or sell the items to other companies for use in electronic products. Each of our segments is subject to variable industry conditions, as demand for manufacturing equipment and services can change depending on supply and demand for chips, display technologies, and other electronic devices, as well as other factors, such as global economic, political and market conditions, and the nature and timing of technological advances in fabrication processes.