S&P 500 (NYSE:SPY) component Novellus Systems, Inc. (NASDAQ:NVLS) will unveil its latest earnings this Wednesday, October 26, 2011. 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 net income of 68 cents per share, a decline of 22.7% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 0.3% versus last year to $3.03.

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 profit of 79 cents per share against a mean estimate of net income of 76 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 15.2% in revenue from the year-earlier quarter to $311.2 million.

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 August 24, 2011 to October 24, 2011, the stock price had risen $4.35 (15.8%) from $27.42 to $31.77. The stock price saw one of its best stretches over the last year between October 3, 2011 and October 13, 2011 when shares rose for nine-straight days, rising 21.7% (+$5.70) 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 $.58 (-1.79%) year to date.

(Source: Xignite Financials)

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