Novellus Posts Lower 2nd-Quarter Profit

Novellus Systems Inc. said its second-quarter profit fell 35% from a year ago. The San Jose-based company reported profit from operations of $17.2 million, or $1 a share, compared with $26.5 million, or $1.60, in last year’s second quarter. After charges of $235.2 million related to acquisitions and a legal settlement, the company had a loss of $153.7 million, or $9.31 a share. There were no charges in the year-ago period. The results were a penny below analysts’ estimates. . . . Redwood City-based Excite Inc. reported a net loss of $7.9 million, or 63 cents per share, compared with a loss of $15.4 million a year ago, or $1.29. Analysts had expected a loss of $8.3 million. . . . San Francisco-based CNet Inc. reported a second-quarter net profit of $5.02 million, or 34 cents per share, after selling its stake of E! Online. Without the E! transaction, net loss was $4.95 million, or 37 cents, compared with a loss of $4.32 million, or 47 cents, a year ago.