Novellus last came out with an earnings release in Mid-July 2008, at which time they really kind of missed just about every target analysts had for them. Instead of posting an earnings of 6 cents per share, the firm lost $0.12 per share, and went on to discuss a fairly tough business environment. Turns out that the memory chip makers have been impacted by a pretty significant price decline in their products, which in turn has caused them to reduce capital outlays, and plans for future capital outlays, in new technology for their chipmaking.
That impacts NVLS pretty directly, and in the ensuing few weeks we've also seen Applied Materials and other chip equipment makers also missing their earnings results.
