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The Boston Globe

Business

Veeco Instruments stock falls

Veeco Instruments Inc. said it won’t file its latest quarterly report on time, Dow Jones reported. The company, which makes tools used to manufacture LED and solar products, is evaluating the timing of revenue recognition for the sale of certain products. “The systems which are the subject of these transactions were delivered, accepted, and paid for in full by our customers,” chief executive John Peeler said. The review focuses on determining if revenue was recognized in “the appropriate accounting periods.”

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