Lehman analyst must feel pretty stupid....
looks like revenue recognition and Peter Wolters (industrial application), not sure about ASP but perhaps off one or the most two tools.
I don't see anything mentioned about memory.
a larger than expected inventory write-down related to evaluation units in our semiconductor segment,
that could relate to CMP - Lam tried hard and probably NVLS as well - could not break AMAT's CMP monopoly.
2008 Financial Press Releases
NOVELLUS ANNOUNCES PRELIMINARY FIRST QUARTER RESULTS
SAN JOSE, Calif, April 7, 2008 — Novellus Systems, Inc. (NASDAQ: NVLS), today announced preliminary financial results for its first fiscal quarter ended March 29, 2008.
Revenue for the first quarter is expected to be at the low end of the previously communicated range of $315 million to $325 million. Net income is expected to be between $0.15 and $0.17 per fully diluted share versus the range of $0.21 to $0.24 which was communicated on February 28, 2008 during the Company's mid-quarter update call.
"Although revenues are expected to be at the low end of our expected range, earnings per share are expected to fall short of expectations," said Jeff Benzing, Executive Vice President. "The expected shortfall in earnings per share is the result of a number of factors including a less-favorable than expected product mix combined with higher manufacturing spending in our industrial applications segment, a larger than expected inventory write-down related to evaluation units in our semiconductor segment, and an increase in our forecasted tax rate."
These expected first-quarter operating results are preliminary and subject to management and the Company's auditors completing their quarterly closing review procedures.
Novellus will host a conference call and live Webcast regarding these preliminary first-quarter financial results on Tuesday, April 8, 2008, at 4:30 a.m., PDT. To access the Webcast, visit the Investor Relations section of Novellus' Web site at www.novellus.com. Novellus expects to report its final first-quarter financial results as previously scheduled on April 21, 2008. |
