Cramer pointed to a number of positives in the earnings: a beat of Wall Street’s estimates by 6 cents, better-than-expected revenues and guidance, a growing backlog thanks to Microsoft Windows 7, increasing IT spending and significant demand for electronics in the developing world.
The Mad Money host likes NVLS’s earnings’ report and sees many positives about the company and the tech industry. The company earned 39 cents per share, beating Wall Street’s consensus by 6 cents, revenues were better than expected and guidance for next quarter was above what some analysts were forecasting. Novellus also said that semiconductor capital spending could be up 60% to 75% in 2010, meaning there looks to be plenty more upside to come.
This company is an integral part of the tech food chain, Cramer said, and that’s why he invited Chairman and CEO Richard Hill onto the show. Want to know more about Novellus and the tech industry overall? Watch the video.
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