Novellus Profit Up in Sluggish Chip Market
Monday April 14, 4:20 pm ET
biz.yahoo.com
NEW YORK (Reuters) - Novellus Systems Inc. (NasdaqNM:NVLS - News), the third-largest U.S. maker of microchip production tools, said its profit rose from a year earlier, in line with forecasts, in the latest quarter, as sales rebounded 40 percent from a year ago.
In the quarter ended March 29, the San Jose, California-based company said its profit rose to $11.9 million, or 8 cents a share, from $3.8 million, or 3 cents a share, a year earlier.
Net sales rose to $238.4 million from $169.7 million in the first quarter of last year.
A survey of 23 analysts by Thomson Financial showed an average earnings estimate of 7 cents a share. |
