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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (2527)	12/17/1999 11:57:00 PM
From: Steve Fancy	Respond to of 3813

DJ version... There is no headline text associated with this story Dow Jones Online News, Friday, December 17, 1999 at 21:08 SAN JOSE -(Dow Jones)- Citing an increase in bookings, chip-equipment maker Novellus Systems Inc. said late Friday it expects to report fourth-quarter earnings higher than current analyst estimates. The company also declared a 3-for-1 stock split late Friday. The split is payable Jan. 15 to shareholders of record Dec. 30. The mean estimate of 22 analysts surveyed by First Call/Thomson Financial is for the company to post earnings of 65 cents a share for the fourth quarter. Because of higher bookings during the quarter, Novellus (NVLS) said it now expects "to substantially exceed consensus street estimates for revenues and profits." For the fourth quarter of 1998, the company posted earnings of 23 cents a diluted share on revenue of about $106 million. Novellus said revenue for the fourth quarter is expected to be in the range of $190 million, and after-tax margins to be between 16% and 17%. For the full-year 1998, Novellus posted earnings of $1.51 a diluted share on revenue of about $518.8 million. The mean estimate of 22 analysts surveyed by First Call/Thomson Financial is for the company to post earnings of $1.76 a share for 1999. The company also said increased bookings and expected strong year-ending backlog gives it greater visibility on the first half of fiscal 2000. Novellus expects revenue in the first half of 2000 to be in excess of $500 million with after-tax margins to exceed the company's goal of 15%. Novellus makes, markets, and services advanced automated wafer fabrication systems for the deposition of thin films. Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved.