Novellus Reports Mixed Earnings; Stock Falls

Chip equipment company Novellus Systems NVLS released its Q2 earnings results after the closing bell on Monday. The company reported earnings per share of $0.79, which compared to analysts consensus EPS estimates of $0.76. In the year ago period, NVLS reported EPS of $0.67. Revenues were $350.2 million versus $321.37 million in last year's fiscal Q2. This missed analysts consensus estimates of $352.32 million. Bookings were down 25% from Q1, to $312 million while shipments fell 5% to $376.9 million. In the after hours trading session, NVLS shares have lost 2.80% to $34.77.