Novellus CFO says orders could be at low-end of range
Monday September 23, 9:18 pm ET
biz.yahoo.com
SAN FRANCISCO, Sept 23 (Reuters) - Customer orders at Novellus Systems Inc. (NasdaqNM:NVLS - News), a maker of semiconductor production equipment, could be even lower than previously projected, Richard Hill, chief executive, said on Monday at the Banc of America Securities conference.
The San Jose, California-based company said in late August that it expected orders of $200 million to $220 million, down from $250 million, due to order delays by customers.
Now, they "could be lower than $200 million," said Hill. "But we hope not."
"Customers have pushed back on us," he added. "We've seen some cancellation."
Hill said he could not discuss financial expectations beyond that saying the company was in a mandated "quiet period" before reporting quarterly results.
Analysts polled by Thomson First Call on average expect the company to post third-quarter earnings of 9 cents per share on revenues of $236.4 million.
In August, the company lowered its third-quarter revenue forecast to $230 million from $250 million and its forecast for earnings to break-even from 2 cents per share. |
