UPDATE 1-Novellus sees 4th-qtr results at high end of range
Tue Nov 30, 2004 05:08 PM ET
(Adds earlier targets, stock movement)
SAN FRANCISCO, Nov 30 (Reuters) - Novellus Systems Inc. (NVLS.O: Quote, Profile, Research) , a maker of semiconductor manufacturing equipment, on Tuesday forecast fourth-quarter financial results at the high end of its previous targets.
Its shares rose 1.5 percent in after-hours trading.
The San Jose, California-based company said it expected revenue of $325 million to $330 million and earnings of 24 cents to 26 cents a share. New orders, an indicator of future revenue, are expected to reach $325 million to $330 million.
"We see overall good signs in the market," Hill said.
In October, Novellus targeted orders of $320 million to $330 million, revenue of $300 million to $330 million, and earnings of 19 cents to 26 cents a share.
Novellus shares fell 85 cents, or 3 percent, to $26.94 on the Nasdaq, before the forecast was released. In after-hours trading on INET, the stock rose to $27.34. |
