Novellus Expects 57% Increase in Q2 Bookings
Online staff -- Electronic News, 5/29/2002
e-insite.net
Novellus Systems Inc. has raised its guidance for Q2 orders from $250 million to about $275 million. This would represent a 57 percent sequential increase from Q1’s $175 million.
Revenue for the quarter ending June 29 is expected to be $220 million, unchanged from the company’s earlier forecasts. Shipments are expected to be slightly higher, at $225 million, up $10 million from Novellus' previous guidance. Second quarter earnings are expected to be 8 cents per share, up 2 cents from previous guidance.
"If our customers’ current growth in demand continues, our expected quarterly bookings could reach approximately $350 million over the next several quarters," said Robin Yim, VP, treasurer, and head of Novellus’ investor relations department, in a statement.
Despite its improved guidance, Novellus' stock fell 7 percent today, to close at $43.40.
Shekhar Pramanick, analyst with Prudential Securities Inc., said the company is experiencing the most strength in China and Taiwan, but Europe remains slow. By Pramanick’s estimations, the company's Q4 orders could hit $360 million. |
