Novellus Profit Surges; Orders Miss Forecast
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Novellus Systems Inc., whose equipment is used to build circuits in computer chips, said its second-quarter profit rose more than fivefold as clients increased production capacity.
Net income rose to $37.8 million, or 25 cents a share, from $7.43 million, or 5 cents, a year earlier, San Jose-based Novellus said.
Sales increased 41% to $338.2 million.
Orders totaled $397 million, Chief Executive Richard Hill said. He had previously said orders might exceed $400 million.
Novellus shares fell $1.33 to $29.72 on Nasdaq.
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