Wednesday, November 27, 2002
Novellus Systems said bookings had improved with rising earnings due to cost cutting but reiterated the possibility of lower revenue in the current quarter.
Novellus expects fourth-quarter revenue of $211 million, compared with third-quarter revenue of $230.5 million.
For the upcoming quarter, the company said it expects to earn 11 cents per share, excluding a $1.7 million charge for job cuts. Excluding charges, Novellus earned 11 cents per share in the third quarter.
Including the charge, Novellus expects fourth-quarter earnings of 9 cents per share as it continues to work to improve its profitability by containing costs. The company posted a net profit of 3 cents per share in the third quarter.
On the other hand, Applied Materials, the top chip gear maker, earlier this month said new orders fell 12 percent in its fiscal fourth quarter from the third quarter and predicted that first-quarter orders would fall another 20 percent.
By: DocMemory
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