UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

 
FORM 8-K

 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 
Date of Report (Date of earliest event reported):  May 24 , 2013
 
VEECO INSTRUMENTS INC.
(Exact name of registrant as specified in its charter)

Delaware 
 (State or other jurisdiction
of incorporation)	 	0-16244 
(Commission
File Number)	 	11-2989601 
(IRS Employer
Identification No.)	
 
Terminal Drive, Plainview, New York  11803
(Address of principal executive offices)
 
(516) 677-0200
 (Registrant’s telephone number, including area code)
 
Not applicable 
 (Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o                   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o                   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o                   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o                   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
Item 3.01   Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
 
Veeco Instruments Inc. (“Veeco” or the “Company”) announced that, on May 24, 2013, it received a letter from The NASDAQ Stock Market LLC (“NASDAQ”) notifying the Company that it has not regained compliance with NASDAQ Listing Rule 5250(c)(1) (the “Rule”), the continued listing requirement to timely file all required periodic reports with the Securities and Exchange Commission (the “SEC”), and, therefore, that its common stock would be subject to delisting unless the Company timely requests a hearing before a NASDAQ Listing Qualifications Panel (the “Panel”).
 
Accordingly, the Company has requested a hearing before the Panel.  At the hearing, the Company will present its plan for regaining compliance with the Rule, and request continued listing pending its return to compliance.  The hearing request will result in an automatic stay of delisting until at least June 17, 2013.  Concurrent with the hearing request, the Company has asked the Panel to extend the stay until the conclusion of the hearing process.  The Panel has the discretion to grant the Company an extension of time within which to regain compliance with the Rule for a period not to exceed 360 days from the original due date for the first late filing, or November 4, 2013.  There can be no assurance that the Panel will grant the Company’s request for continued listing.
 
As previously reported, the Company is not in compliance with the Rule because it did not timely file its quarterly report on Form 10-Q for the quarter ended March 31, 2013, its annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the quarter ended September 30, 2012 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.  For information on the accounting review, please see the Form 12b-25 we filed on May 10, 2013.  The Company continues to conduct the review and intends to file its Forms 10-Q and 10-K as soon as reasonably practicable after these accounting matters have been resolved.
 
A copy of the press release disclosing the Company’s receipt of the NASDAQ notification letter is furnished as Exhibit 99.1 to this report.
 
Item 9.01   Financial Statements and Exhibits.
 
(d)           Exhibits .

Exhibit	 	Description	
 	 	 	
99.1	 	Press release issued by Veeco dated May 31, 2013	
 
The information in this report, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section, nor shall this information or these exhibits be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

May 31, 2013	VEECO INSTRUMENTS INC.	
 	 	 	
 	By:	/s/ Gregory A. Robbins	
 	Name:	Gregory A. Robbins	
 	Title:	Senior Vice President and General Counsel	
 
EXHIBIT INDEX

Exhibit	 	Description	
 	 	 	
99.1	 	Press release issued by Veeco dated May 31, 2013	
 
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EXHIBIT 99.1

	NEWS	
 
Veeco Instruments Inc., 1 Terminal Drive, Plainview, NY 11803 Tel. 516-677-0200 Fax. 516-677-0380
 
FOR IMMEDIATE RELEASE
 
Contact: Debra Wasser, SVP Investor Relations & Corporate Communications, 516-677-0200 x1472
 
VEECO RECEIVES ANTICIPATED NASDAQ NOTICE OF NON-COMPLIANCE
AND HAS REQUESTED A HEARING FOR CONTINUED LISTING
 
Plainview, N.Y., May 31, 2013 – On May 24, 2013, Veeco Instruments Inc. (NASDAQ: VECO) received the anticipated letter from The NASDAQ Stock Market LLC (“NASDAQ”) notifying the Company that it has not regained compliance with NASDAQ Listing Rule 5250(c) (1) (the “Rule”), the continued listing requirement to timely file all required periodic reports with the Securities and Exchange Commission (the “SEC”), and, therefore, that its common stock would be subject to delisting unless the Company timely requests a hearing before a NASDAQ Listing Qualifications Panel (the “Panel.”)
 
Accordingly, the Company has requested a hearing before the Panel.  At the hearing, the Company will present its plan for regaining compliance with the Rule, and request continued listing pending its return to compliance. The hearing request will result in an automatic stay of delisting until at least June 17, 2013. Concurrent with the hearing request, the Company has asked the Panel to extend the stay until the conclusion of the hearing process.  The Panel has the discretion to grant the Company an extension of time within which to regain compliance with the Rule for a period not to exceed 360 days from the original due date for the first late filing, or November 4, 2013.  There can be no assurance that the Panel will grant the Company’s request for continued listing.
 
As previously reported, the Company is not in compliance with the Rule because it did not timely file its quarterly report on Form 10-Q for the quarter ended March 31, 2013, its annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the quarter ended September 30, 2012 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.  For information on the accounting review, please click here to visit Veeco’s May 10, 2013 12b-25 filing.  The Company continues to conduct the review and intends to file its Forms 10-Q and 10-K as soon as reasonably practicable after these accounting matters have been resolved.
 
About Veeco
 
Veeco’s process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips.  We are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies.  Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership.  For information on our company, products and worldwide service and support, please visit www.veeco.com.
 
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management’s Discussion and Analysis sections of Veeco’s Annual Report on Form 10-K for the year ended December 31, 2011 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
 
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