Novellus results show net sales increase

Novellus Systems, a manufacturer of chemical-vapour deposition equipment, has reported net sales for the first quarter of 2010 of $276.2m (£179.4m).

This showed an increase of $32m, or 13.1 per cent from fourth-quarter 2009 net sales of $244.2m, and an increase of $177.3m or 179.3 per cent from first-quarter 2009 net sales of $98.9m.

Net income for the first quarter of 2010 was $41.3m, or $0.43 per diluted share, an increase of $6.1m from fourth-quarter 2009 net income of $35.2m, or $0.36 per diluted share.

The first-quarter 2009 net loss was $66.4m, or $0.69 per diluted share.