Novellus Warns Over Weak Consumer Spending

Chip-equipment company Novellus Systems(NVLS Quote) warned Thursday that third-quarter results would fall below the company's earlier guidance.

CEO Richard Hill said revenue for the September quarter would be $230 million, as opposed to earlier guidance of $250 million. The revenue drop was due to push-outs in orders from two Asian customers, Hill said.

Shipments for the quarter would drop to $245 million from earlier guidance of $260 million. Orders during the quarter were likely to go as low as $200 million to $220 million, when they were projected for up to $250 million, Hill said. ...