Novellus net has doubled in fourth quarter with strong demand in the chip market.

Novellus reported a fourth-quarter profit of $81.5 million, or 89 cents a share, that is compared with a profit of $35.2 million, or 36 cents a share, for the year-earlier period. Revenue was $384.4 million, up from $367.2 million Adjusted income was $1.03 a share.

Intel’s $700 million design flaw

Intel discovered a design issue inside a recently released chipset, dealing a setback towards the ramp of its new microprocessor and resulting in charges and a reduction in first-quarter revenue.

According to a consensus survey by FactSet Research, analysts expected the chip-equipment maker to report earnings of 93 cents a share, on revenue of $377.9 million.

Chief Executive Richard Hill said chip demand continues to remain robust due to a range of factors, including strong pc demand, and robust consumer demand in China.

“While the gear industry remains cyclical, any current pause in capital expenses are likely to be digestion of recently delivered equipment rather than a slowing in end demand for electronic products that drive capacity expansion,” Hill said in a statement.

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