Novellus Still Sees Meeting Fourth-Quarter Estimates

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Novellus Systems

(NVLS)

still expects to report fourth-quarter earnings of 71 cents a share and revenue of $415 million, according to a report.

The semiconductor equipment maker's forecast is in line with Wall Street's expectations, according to

First Call/Thomson Financial

.

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The company also expects fourth-quarter orders of $450 million, according to the report on

Dow Jones Newswires

.

Earlier today,

Salomon Smith Barney

lowered its 2001 growth outlook for the semiconductor equipment industry and warned that the bad news coming out of the sector is only in its early stages.

Salomon said it expected Novellus to lower bookings and earnings expectations, amid push-outs of front-end equipment orders from major chipmakers in November.