CORRECTION: Novellus Systems, Inc. Third Quarter Earnings Sneak Peek

CORRECTION: Novellus is not announcing earnings on October 10th, 2011 as indicated on the Yahoo Finance Company Events page.

S&P 500 (NYSE:SPY) component Novellus Systems, Inc. (NASDAQ:NVLS) will unveil its latest soon. Novellus Systems develops, manufactures, sells, and supports equipment used in the creation of chips and semiconductors.

Novellus Systems, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 68 cents per share, a decline of 22.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 88 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 68 cents during the last month. Analysts are projecting profit to rise by 0.7% versus last year to $3.04.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 3 cents, reporting net income of 79 cents per share against a mean estimate of profit of 76 cents per share.

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

Wall St. Revenue Expectations: On average, analysts predict $311.9 million in revenue this quarter, a decline of 15.1% from the year ago quarter. Analysts are forecasting total revenue of $1.36 billion for the year, a rise of 0.7% from last year’s revenue of $1.35 billion.

Analyst Ratings: Analysts seem relatively indifferent about Novellus Systems with seven of 13 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose 2.3% to $64.7 million (79 cents a share) from $63.3 million (66 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 9% to $350.2 million from $321.4 million.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 49.6% in the first quarter from the year earlier, climbed 57.4% in the fourth quarter of the last fiscal year from the year-ago quarter and more than twofold in the third quarter of the last fiscal year.

Competitors to Watch: Mattson Technology, Inc. (NASDAQ:MTSN), Amtech Systems, Inc. (NASDAQ:ASYS), Applied Materials, Inc. (NASDAQ:AMAT), Axcelis Technologies, Inc. (NASDAQ:ACLS), CVD Equipment Corporation (NASDAQ:CVV), Tegal Corporation (NASDAQ:TGAL), ASM Intl. N.V. (NASDAQ:ASMI), Varian Semiconductor (NASDAQ:VSEA), Lam Research Corporation (NASDAQ:LRCX), and FSI International, Inc. (NASDAQ:FSII).

Stock Price Performance: During July 11, 2011 to October 4, 2011, the stock price had fallen $8.45 (-23.6%) from $35.77 to $27.32. The stock price saw one of its best stretches over the last year between September 8, 2011 and September 15, 2011 when shares rose for six-straight days, rising 8.9% (+$2.47) over that span. It saw one of its worst periods between April 6, 2011 and April 14, 2011 when shares fell for seven-straight days, falling 7.1% (-$2.58) over that span. Shares are down $5 (-15.5%) year to date.

(Source: Xignite Financials)

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.