Novellus: 2Q outlook at low end

June 28, 2007 – Novellus Systems Inc. says its 2Q bookings, shipments, revenues, and EPS will all be at the low end of guidance provided a month ago. NVLS had initially said sales would be at $410-$420 million, up ~3%-6% sequentially and flat year-on-year, while EPS of $0.42-$0.45, roughly flat sequentially.

Ahead of what the company says is “weakening” demand, it is taking “preemptive actions” to reduce expenses in 2H07, including reducing executive salaries for the rest of the year, and initiating “company shutdowns” in both 3Q and 4Q.


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