Novellus Systems leaves 1Q guidance unchanged

SAN JOSE, Calif. (AP) ? Semiconductor manufacturing equipment maker Novellus Systems Inc. said it will not change its earnings forecast for the current quarter, and will not hold a conference call with investors to update them on the quarter. The company said Tuesday it will not hold the call because of its pending merger with Lam Research Corp.

Lam Research announced in December that it plans to buy San Jose-based Novellus Systems for $3.3 billion in stock.

Both companies make equipment that manufacturers use to build semiconductors.

In early February, Novellus Systems said it expects to earn adjusted net income during the current quarter between 50 cents and 65 cents per share, according to FactSet. Analysts are expecting the company to earn 60 cents per share, according to a survey by FactSet.

The company forecast that it will have revenue between $300 million and $330 million during the quarter and analysts are expecting $311.6 million, according to FactSet.

Shares of Novellus Systems fell 1 cent to close at $44.10. Lam Research ended up 4 cents at $39.54.

Source: http://news.yahoo.com/novellus-systems-leaves-1q-guidance-unchanged-232606382.html

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