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News > Technology
Novellus tops estimates
January 16, 2001: 5:56 p.m. ET

Semiconductor beats the Street by 6 cents a share; revenue rises 122%
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NEW YORK (CNNfn) - Chipmaking equipment company Novellus Systems Inc. Tuesday reported fourth-quarter results that bested analysts' expectations.

The company reported pro forma fourth-quarter net income of $104.4 million, or 76 cents a share, versus $33 million, or 27 cents a share, during the same quarter a year ago.

graphicThe consensus forecast was a profit of 70 cents a share, according to tracker First Call Thomson Financial.

Pro forma revenue was up 122 percent, at $425.1 million, versus $191.7 million during the same quarter a year ago. The expectation had been for revenue of $413.6 million.

For the fiscal year, the semiconductor earned $322.8 million, or $2.39 a share, on sales of $1.38 billion versus earnings of $76.6 million, or 64 cents a share, on sales of $592.7 million for fiscal 1999.

In Tuesday's regular trading on the Nasdaq stock market, shares of Novellus (NVLS: Research, Estimates) fell $3.81, or 8.96 percent, to $38.75, off a 52-week high of $70.25.

-- from staff and wire reports graphic

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