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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2748)	8/29/2002 6:06:09 PM
From: Sarmad Y. Hermiz	Respond to of 25522

Brian, I think the worst part of the Novellus news is that apparently their backlog did not avert a reduction in revenue, which will be down $20m also. So if $30m bookings drop results in $20m revenue drop, is that backlog as solid as we hope ?

To: Proud_Infidel who wrote (2748)	8/29/2002 9:05:16 PM
From: Ian@SI	Read Replies (2) \| Respond to of 25522

Brian, Here's what Briefing had to say. Note that there was a one-time charge relating to the Convertible issue being put to them. Without that one-time charge, earnings would be $0.10, the consensus estimate. Ian ++++++++++++++++++++++++++++++ 4:40PM Novellus lowers bookings and shipment guidance (NVLS) 24.29 +0.11: -- Update -- On its conference call, company lowers Q3 bookings guidance to $220 mln vs July 22 guidance of $250 mln... shipments should be $245 mln vs earlier guidance of $260 mln due to push-outs from key customers.... stock at 23.70. 4:38PM Novellus guiding lower (NVLS) 24.29 +0.11: -- Update -- On its conference call, company guides lower. Q3 revenue and EPS goes to $230 mln and breakeven vs Multex consensus of $250 mln and $0.10...stock at 24.06.