Well, maybe this should help Fsii and the rest of this Sector. Look at Nvls's earnings out this morning and there's room for improvement.
Novellus Systems 4Q Net 64c A Diluted Share Vs 51c
Novellus Systems Inc. - San Jose, Calif.
4th Quar Dec. 31:
1997 1996
Sales $162,830,000 $104,607,000
Net income 22,390,000 16,878,000
Avg shrs (basic) 33,700,000 32,378,000
Avg shrs (diluted) 34,984,000 33,180,000
Shr earns (basic*)
Net income .66 .52
Shr earns (diluted**)
Net income .64 .51
* - 'Basic' earnings per share is calculated by dividing net earnings
applicable to common shares by common shares outstanding. This replaces
'primary' earnings per share, which included common stock equivalents in
the calculation. The year ago per share amounts are restated to reflect the
current presentation.
** - 'Diluted' earnings per share includes options, warrants and convertible
securities in the calculation.o pt
Year Dec. 31:
1997 1996
Sales $534,004,000 $461,736,000
Net income (95,658,000) 94,029,000
Avg shrs (basic) 33,257,000 32,156,000
Avg shrs (diluted) 33,257,000 33,018,000
Shr earns (basic)
Net income (2.88) 2.92
Shr earns (diluted)
Net income (2.88) 2.85
Figures in parentheses are losses.
All figures for fourth quarter and year are adjusted for a 2-for-1 stock split
paid Oct. 13, 1997.
Novellus Systems Inc. (NVLS) took a pretax charge of $133.5 million in
1997 for the acquisition of Varian Associates Inc.'s PVD division; charges
of $17.7 million to write off amount due from Submicron Technology Inc.
and $84 million in charges for the settlement of the TEOS patent litigation.
Excluding the charges, the company had net income of $75.3 million, or
$2.17 a share.
Novellus said backlog on Dec. 31, 1997, rose 43% to $224 million, from
$156.4 million a year earlier.
Novellus makes, markets and services automated wafer fabrication systems
for the deposition of thin films.
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