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Strategies & Market Trends : Guidance and Visibility

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Dec 31 3:59 PM EST

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To: 2MAR$ who wrote (14197)	9/5/2001 3:53:32 PM
From: 2MAR$	of 208838

Novellus Pres: Upturn Won't Happen Until End Of 4Q >NVLS By Donna Fuscaldo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Novellus Systems Inc. (NVLS) President Peter Hanley said Wednesday that an upturn for the semiconductor capital equipment industry isn't likely to happen until the end of the fourth quarter or next year. During a presentation at the Salomon Smith Barney technology conference here, Hanley said the problem is that there are no "captivating applications," to lead the industry out of the downturn. According to the executive Japan has a long way to go until there is investment in chip equipment. Novellus, he said, is "pessimistic" about Japan all the way through 2002. In Europe, Hanley said business is weaker than thought. Still Hanley does expect to see some investment from that region. Last week Novellus said bookings in its third quarter will be $160 million, at the low end of the outlook the company gave when it reported second-quarter earnings. The company expects revenue to come in at $300 million in the third quarter with earnings of 24 cents a share, in line with previous targets. For 2001, Novellus executives predicted that bookings will meet the company's forecast of $800 million. Analysts, according to Thomson Financial/First Call, expect Novellus to post earnings of 23 cents a share and revenue of $309.6 million. Novellus makes equipment for semiconductor manufacturing. -By Donna Fuscaldo; Dow Jones Newswires; 201-938-5253 donna.fuscaldo@dowjones.com

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