Novellus Systems, Inc. (NVLS: chart) 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: chart) 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: chart) 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: chart) 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: chart) 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: chart) 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: chart) 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: chart) 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: chart), 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: chart) 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.