Novellus Message Board - Msg: 12323997

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Proud_Infidel who wrote (2513)	12/17/1999 9:11:00 PM
From: Sonki	Read Replies (2) of 3813

3/1 split.. Novellus Says Earnings to Beat Estimates; Stock to Split Bloomberg News Dec 17 1999 8:29PM San Jose, California, Dec. 17 (Bloomberg) -- Novellus Systems Inc., which makes equipment used in manufacturing semiconductor circuits, said it expects fourth-quarter earnings to beat estimates and that it will split its stock 3 for 1. The San Jose, California-based company was expected to earn 65 cents a share for the period, the average estimate of analysts polled by First Call Corp. Novellus said it expects fourth-quarter revenue of $190 million. It had revenue of $106 million in the year-earlier period. The company said the improved results are from increased bookings and an expected strong backlog at the end of the year. The company said it would split its stock 3 for 1, with the additional shares to be distributed around Jan. 15 to shareholders of record as of Dec. 30. After the split, the company will have about 120 million shares outstanding. Novellus rose 8 31/64 to 85 11/64. It shares have risen 72 percent since the first of the year. The announcements were made after the close of regular U.S. trading. BBG/Novellus-Says-Earnings

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