Novellus Systems, Inc. (NVLS) announced Monday a 40% jump in its quarterly profits, boosted by increasing strength in bookings and high performance in all of its products at 200 mm and 300 mm. The semiconductor-equipment manufacturer reported net earnings of $16.7 million, or 11 cents a share, for the first quarter of fiscal 2004, compared with earnings of $11.9 million, or 8 cents a share, in the prior-year period. Earnings before items came in at $18.5 million, or 12 cents per share. That beat the average analysts’ estimate for a profit of 10 cents per share. For the quarter ended March 27, net sales improved 10% to $262.9 million from $238.4 million, in the same period of 2003. Analysts had forecast revenue of $252.4 million in the first quarter. San Jose, California-based Novellus said net bookings surged to $346.8 million in the quarter, up 42% from a year ago.

Looking ahead, Novellus projected a profit excluding items of 18 cents to 20 cents a share for the second quarter, on revenue of $305 million to $325 million.

Novellus shares gained 27 cents on Monday to $34.64. The stock rose 3.70% to $35.92 in after-hours trading.

Gannett Co., Inc. (GCI) posted before market open Monday first-quarter earnings of $274.4 million, or $1.00 a share, up 10% from earnings of $249.8 million, or 93 cents a share, in the 2003 corresponding period. The McLean, Virginia-based U.S. No.1 newspaper publisher said results were driven by strong advertising and acquisitions. Quarterly revenue increased 11.4% to $1.73 billion, from $1.55 billion a year earlier. Results were in line with Wall Street’s expectations.

The stock closed Monday down $1.20, or 1.33%, at $89.22.

The New York Times Company (NYT) reported before the bell Monday that its quarterly earnings slipped 15%, hurt by an increase in costs. The New York-based newspaper publisher said it had a profit of $58.4 million, or 38 cents a share, in the first three months of fiscal 2004, in contrast to $68.8 million, or 45 cents a share, generated a year earlier. Results were 2 cents a share above the mean estimate of analysts. The company recorded first-quarter revenue of $801.9 million, up 2% from $783.7 million in 2003.

Company shares shed 34 cents to $46.73 at market close Monday.

Standard Microsystems Corporation (SMSC) of Hauppauge, New York, said Monday that it had fourth-quarter income from continuing operations of $3.4 million, or 17 cents per share, compared to income from continuing operations of $1.1 million, or 6 cents per share, last year. The chip-maker attributed the results to higher revenues, which surged 22% in the quarter to $52.1 million, from $42.6 million in the same period of fiscal 2003.

The stock rose 3.43% to close Monday at $28.03.

M.D.C. Holdings, Inc. (MDC) announced after the bell Monday that its first-quarter net profit soared 64% to $60.9 million, or $1.79 a share, from a prior-year net profit of $37.0 million or $1.12 a share. The Denver, Colorado-based homebuilder outpaced analysts’ projections for earnings of $1.51 a share. Quarterly revenues advanced to $764 million from $570 million, last year. The company said it benefited from low mortgage rates and the improving U.S. economy.

M.D.C. shares dropped 42 cents on Monday to $65.06.

Investors Financial Services Corp. (IFIN) of Boston, Massachusetts, posted Monday higher quarterly income, aided by an increase in its core asset processing revenue and foreign exchange fees. The mutual fund administrator turned in first-quarter earnings of $35 million, or 52 cents a share, up from earnings of $5.4 million, or 8 cents a share, in the 2003 equivalent, when results were weighed down by charges. Analysts had called for a profit of 45 cents a share, on average.

The stock lost 50 cents to $42.61 at market close Monday. Company shares surged 5.73% to $45.05 in after-market trade.

The Sherwin-Williams Company (SHW) on Monday revised upward its quarterly profit outlook, citing higher-than-expected sales. The Cleveland, Ohio-based U.S. top paint manufacturer said it now sees first-quarter earnings of 33 cents to 35 cents per share, compared to its previous forecast of 26 cents to 30 cents per share. The consensus analysts’ estimate is for a profit of 29 cents a share.

Company shares edged up 16 cents on Monday to $37.46. The stock rose 2.83% to $38.52 in after-hours trading.

MeriStar Hospitality Corporation (MHX) of Arlington, Virginia, said Monday that it expects to post a first-quarter net loss of 40 cents to 43 cents a share. The hotel owner had earlier projected a net loss of 36 cents to 40 cents a share. For the year, the company said it sees a net loss in the range of 93 cents to $1.03 a share, compared with a prior outlook for a loss of $1.15 to $1.22 a share.

The stock closed Monday at $6.38, down 24 cents, or 3.63%.

Novatel Wireless, Inc. (NVTL), the San Diego, California-based provider of wireless modems and PC cards, lifted Monday its revenue target for the first quarter, on the back of stronger sales. The company said it now views first-quarter revenue of $14.8 million to $15.1 million, up from an earlier forecast of $12 million to $13 million.

Company shares gained 73 cents on Monday to $27.18. The stock soared 8.50% to $29.49 in after-market trade.

Kimberly-Clark Corporation (KMB) increased its first-quarter earnings estimate to 91 cents per share, from a previously projected range of 85 cents to 87 cents per share. The Irving, Texas-based world’s largest maker of personal paper products said record sales and reduced costs helped boost its outlook. Analysts were looking for a profit of 87 cents a share, on average.