Novellus Warns Orders to Dip on SARS Fears
From Reuters
Novellus Systems Inc., a San Jose maker of microchip production tools, said profit rose in line with forecasts in the latest quarter but warned orders would drop because of hysteria over severe acute respiratory syndrome, or SARS.
The firm said profit rose to $11.9 million, or 8 cents a share, from $3.8 million, or 3 cents, a year earlier. Sales rose 40% to $238.4 million.
Novellus predicted orders would fall to $188 million from $243.7 million in the first quarter, with profit falling to 5 cents a share because of SARS and the Iraq war.
Novellus shares rose 70 cents to $27.35 on Nasdaq but dipped to $26.20 in after-hours trading.
