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Tech Industry

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.

  • Lattice Semiconductor (Nasdaq: LSCC) also topped Street estimates in its second quarter, earning $33.6 million, or 61 cents a share, on sales of $140 million.

    Analysts were predicting a profit of 55 cents a share in the quarter.

    Lattice shares closed up 2 15/16 to 78 9/16 ahead of the earnings report.

    The $140 million in sales marks a 134 percent jump from the year-ago quarter when it earned $12.8 million, or 26 cents a share, on sales of $59.7 million.

    "Strong demand for customers in the communication end market resulted in double-digit sequential revenue growth," said CEO Cyrus Tsui in a prepared release.