Novellus Tops Q4 Estimates

Novellus (NVLS) Wednesday afternoon reported fourth quarter sales of $363.5 million and EPS of 47 cents. The Street had been expecting $361.4 million and 36 cents. Net income for the latest quarter of $52.9 million included $8 million in restructuring related gains and $8.4 million from the reversal of previous compensation expenses; that would bring the total down to $36.5 million, or 32 cents.

Novellus said bookings in the quarter were $343.1 million; shipments totaled $363.1 million.

In after hours trading, Novellus is down a penny at $23.40.