A concise report on the NVLS earnings reported tonight.
cbs.marketwatch.com
<<Novellus Q1 results top targets
By Chris Kraeuter, CBS.MarketWatch.com
Last Update: 6:22 PM ET April 12, 2004
SAN FRANCSICO (CBS.MW) -- Novellus Systems boosted its first-quarter net income and sales, and predicted the trend will continue, as demand rose for chip manufacturing equipment, the company said late Monday.
Novellus (NVLS: news, chart, profile) issued targets for the second quarter that outstripped Wall Street's targets. Shares rose 1.2 percent to $35.05 in late trading after closing the regular session up 0.8 percent to $34.64.
"Bookings are showing increasing strength and all of our products at 200 mm and 300 mm continue to perform well," said CEO Rick Hill during a conference call. "We see continued strength in the next quarter."
Novellus reported net income of 11 cents a share and sales of $262.9 million for the quarter ended in March. During the same quarter last year, Novellus earned 8 cents a share on sales of $238.4 million.
Analysts expected earnings of 10 cents a share and revenue of $252.4 million, on average, according to Thomson First Call.
The San Jose, Calif.-based company reported shipment growth of 36 percent to $311 million from the fourth quarter and deferred revenue growth of 46 percent to $153.2 million.
For the second quarter, Novellus predicted shipments between $340 million and $360 million, sales between $305 million and $325 million and earnings between 18 cents a share and 20 cents a share. Also, Novellus predicted sequential order growth between 8 and 12.5 percent. |
