Novellus, Lattice roll past 2Q forecasts

Chip-equipment maker Novellus Systems easily hurdled analysts' estimates Monday, raking in $75.7 million, or 56 cents a share, on sales of $326 million.

First Call Corp. consensus expected it to earn 52 cents a share in the quarter.

Ahead of the earnings report, Novellus Systems (Nasdaq: NVLS) shares closed up 4 3/16 to 68 7/16.

The $326 million in sales represents a 149 percent improvement from the year-ago quarter when it earned $12.4 million, or 10 cents a share, on sales of $131 million.

"This has been an eventful quarter for Novellus, with the addition of our company to the S&P 500, preparing for the launch of a new and revolutionary product, and another record quarter driven by robust capital spending by our customers for expanded capacity and advanced technology," said CEO Richard Hill in a prepared release.

Last quarter, it pocketed $57.5 million, or 45 cents a share, on sales of $274.1 million.

Its shares raced up to a 52-week high of 70 1/4 in March after falling to a low of 17 1/4 in August.

Twenty of the 21 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

First Call Corp. consensus expects it to earn $2.16 a share in the fiscal year.