* Q2 EPS $0.66 vs est $0.60
* Rev $321.4 mln vs est $312 mln
* Bookings up 64 pct
July 12 Novellus Systems Inc (NVLS.O), which
provides equipment for the semiconductor industry, posted
quarterly results above expectations, helped by a surge in
bookings and shipments.
For the second quarter, the chip-gear maker reported net
income of $63.3 million, or 66 cents per share, compared with a
loss of $50 million, or 55 cents per share, a year ago.
Net sales for the company, which competes with Applied
Materials Inc (AMAT.O), nearly tripled to $321.4 million.
Bookings rose 64 percent to $384.9 million, while shipments
rose 49 percent to $332.1 million, sequentially.
Analysts on average were looking for earnings of 60 cents a
share, excluding items, on revenue of $312 million, according
to Thomson Reuters I/B/E/S.
This current upturn in semiconductor demand is being fueled
by growth in a wide spectrum of electronics products, Chief
Executive Richard Hill said in a statement.
"We anticipate that the 'gentrification' of the worldwide
communications infrastructure along with increased
public-sector IT investment and growth in China consumerism
will continue to support a multi-year recovery in the
semiconductor equipment industry," he added.
Shares of the San Jose, California-based company closed at
$26.71 Monday on Nasdaq.
(Reporting by Mansi Dutta in Bangalore; Editing by Don