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To: gladman who wrote (8947)	5/3/2001 11:54:56 AM
From: Tom Hua	Read Replies (1) \| Respond to of 19633

Thursday May 3, 11:37 am Eastern Time Novellus doesn't see chip recovery until Q4 NEW YORK, May 3 (Reuters) - Semiconductor equipment maker Novellus Systems Inc. (NasdaqNM:NVLS - news) does not expect a recovery in orders for semiconductors until the fourth quarter of this year at best, Chief Executive Richard Hill said on Thursday. He added that his own checks have found semiconductor plants working at between 30 percent and 80 percent capacity -- around the world and across product lines. ``I don't expect to see any uptick in bookings until the fourth quarter,'' he told Reuters at the Merrill Lynch Hardware Technology conference here. ``It would probably take one to two quarters before you would then see our earnings start to head in the northerly direction.''