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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56631)	11/30/2001 2:17:18 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

11/29 18:07 Novellus Says 4th-Qtr Orders to Be Less Than Forecast (Update2) By Cesca Antonelli quote.bloomberg.com San Jose, California, Nov. 29 (Bloomberg) -- Novellus Systems Inc., whose equipment builds circuits in semiconductors, said fourth-quarter orders will be less than forecast. The company said it may have a loss in the first and second quarters. Novellus shares dropped as much as 7.5 percent after Chief Executive Rick Hill said bookings in the current quarter will be $105 million to $125 million. Last month, the company had predicted $125 million to $150 million in new orders. Chip-equipment suppliers like Novellus have suffered this year as semiconductor makers reduce spending on new tools while their own sales slip. Novellus has chopped executive salaries by as much as 25 percent, consolidated some facilities and trimmed its temporary workforce to cope with the slowdown. The company is considering whether to fire some workers, Hill said. ``There just isn't any fundamental reason for orders to be going up,'' said Theodore O'Neill, a C.E. Unterberg Towbin analyst who rates the shares a ``strong buy'' and doesn't own the stock. ``The chip volume just isn't there.'' Shipments