Novellus Message Board - Msg: 19254624

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Leonard Nitowski who started this subject	8/28/2003 5:02:40 PM
From: TI2, TechInvestorToo	of 3813

Novellus backs order, EPS target, sees more charges Thursday August 28, 4:45 pm ET SAN FRANCISCO, Aug 28 (Reuters) - Novellus Systems Inc. (NasdaqNM:NVLS - News), a maker of equipment used to build microchips, stood by its earlier forecasts for break-even earnings per share before charges and orders of $220 million in the third quarter. Novellus, in a mid-quarter conference call, also said it expected to take a $70 million restructuring charge in the third quarter primarily for a write-down of inventory. The charge comes in addition to a $63 million charge to be taken related to the winding down of an off-balance-sheet lease.

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