Novellus, a semicap, had their mid-q update last night. Bookings previously had been guided to down 25-40% at 76-90 mil, they reduced the range to 76-85 mil. Everything else sounded essentially the same.
They said the spare parts business was better as some production capacity was being better utilized among customers. Logic customers are spending selectively. Perpetually optimistic CEO Rick Hill predicted some upturn in the second half relative to present business. As Novellus is losing 50 cents a quarter at present run rates, they’re going to need some uptick just to stop losing.
No position Novellus.
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