Veeco Receives NASDAQ Notice

Veeco Instruments Inc. received a letter from The NASDAQ Stock Market LLC on May 13, 2013 notifying the company that it is not in compliance with NASDAQ Listing Rule 5250(c) (1) because its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 was not filed on a timely basis with the CAS.

As previously announced, this Form 10-Q, as well as the company’s annual report on Form 10-K for the year ended December 31, 2012 and quarterly report on Form 10-Q for the quarter ended September 30, 2012, could not be filed timely because the company is reviewing the timing of the recognition of revenue and related expenses on the sale of certain of its products. The accounting review was announced on November 15, 2012.

Veeco had previously announced that it had submitted to NASDAQ a plan to regain compliance with NASDAQ’s requirements for continued listing and that NASDAQ had granted an extension, to May 20, 2013, for the company to regain compliance with NASDAQ’s requirements for continued listing.

The company does not expect to regain compliance with NASDAQ’s requirements for continued listing by May 20, 2013. As a result, the company intends to request a hearing before the NASDAQ Listing Qualifications Panel to request additional time to regain compliance with NASDAQ’s requirements for continued listing and to request that NASDAQ allow the company’s securities to remain listed on The NASDAQ Global Select Market until such time as the hearing process concludes and any resulting exception period expires.