SAN FRANCISCO—Chip gear vendor Novellus Systems Inc. Monday (July 11) reported second quarter sales that came in slightly short of consensus analysts' expectations as the firm warned that bookings declined nearly 25 percent during the quarter.
Novellus (San Jose, Calif.) reported sales for the quarter of $350.2 million, down 15.2 percent compared to the previous quarter but up 9 percent compared with the year-ago quarter. The company reported a net income for the period of $64.7 million, or 79 cents per diluted share, down $31.7 million from the previous quarter and up $1.4 million compared to the year ago quarter.
Analysts had been expecting Novellus to report sales of about $352 million for the second quarter, according to Yahoo Finance.
Novellus said bookings declined to $311.6 million in the second quarter, down 24.9 percent compared with the previous quarter. Second quarter shipments of $359.3 million were down 4.7 percent from the previous quarter, Novellus said.
"We intend to drive further gains and revenue growth with the emergence of 3-D NAND and advanced logic applications, all of which are essential building blocks required to enable the growth in cloud computing and storage," said Richard Hill, chairman and CEO of Novellus, in a statement.
Novellus, Chip, Gear, Venors, Sales, Quarter Novellus misses Q2 estimates; bookings slip
No comments:
Post a Comment