Ft. Lauderdale, FL 5/20/2010 06:25 PM GMT (TransWorldNews)
Novellus Systems Inc. (NASDAQ: NVLS) reported Thursday
that it raised its first-quarter profit outlook due to a lower tax rate,
according to Associated Press.
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The company now expects to earn 43 cents per share, 4
cents above the high end of the range it had forecast in March. Adjusted
earnings excluding certain charges should top 47 cents per share, which is 3
cents above the prior outlook.
Analysts polled by Thomson Reuters are expecting a profit
of 40 cents per share, which excludes one-time items.
Novellus said its fiscal 2010 tax rate should range from
15 percent to 20 percent instead of the 25 percent to 30 percent it had
Novellus is scheduled to report first-quarter earnings on
Shares of Novellus were down 6 cents to $26.86 at
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