Novellus Chief: 'The Worst Is Behind Us'
28 Maggio 2009 - 11:35PM
Dow Jones News
Novellus Systems Inc. (NVLS) Chief Executive Richard Hill said
he believes the long-depressed market for semiconductor equipment
is improving.
"We believe the worst is behind us," said Hill in a conference
call to update the company's second-quarter outlook.
Novellus, which makes the tools used to make semiconductors,
left unchanged its views on second-quarter revenue, gross margins
and loss per share, but raised its estimates for bookings
growth.
The company now expects booked orders will grow 30% to 55% from
the previous period. Novellus had expected growth of 20% to
50%.
In April, Novellus said it expected second-quarter sales of $110
million to $125 million and a loss per share of 35 to 45 cents.
Novellus shares were recently up 0.5% to $17.99. The stock is up
more than 40% over the past three months, but still trades below
its 52-week high of $24.09.
Despite the improving industry conditions - Hill said some
markets were "marginally better" - he voiced caution about a quick
return to strong demand for chip equipment.
"We're not going to go back to the robust economic situation we
were in a year and a half or two years ago," Hill said.
-By Jerry A. DiColo; Dow Jones Newswires; 201-938-5670;
jerry.dicolo@dowjones.com