PLAINVIEW, N.Y. (AP) _ Veeco Instruments Inc. (VECO) on Tuesday reported second-quarter net income of $6.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Plainview, New York-based company said it had net income of 12 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 35 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The precision manufacturing equipment maker posted revenue of $146.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $136.9 million.

For the current quarter ending in October, Veeco expects its per-share earnings to range from 25 cents to 44 cents.

The company said it expects revenue in the range of $135 million to $155 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $141.6 million.

Veeco shares have risen 34% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.21, a climb of 62% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VECO at https://www.zacks.com/ap/VECO

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News