This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

LeCroy Expects Record Sales Of $51.1 Million For Second Quarter Of Fiscal 2012

 



CHESTNUT RIDGE, N.Y., Jan. 9, 2012 /PRNewswire/ -- LeCroy Corporation (NASDAQ: LCRY), a leading supplier of oscilloscopes, protocol analyzers and serial data test solutions, today announced preliminary financial results for its fiscal second quarter ended December 31, 2011. 

For the second quarter of fiscal 2012, LeCroy expects to report a 13.5% year-over-year increase in revenues to approximately $51.1 million. Non-GAAP operating margin for the second quarter of fiscal 2012 is expected to be approximately 14% and non-GAAP net income per diluted common share is expected to be approximately 30 cents.  Cash from operations for the second quarter is expected to be approximately $4 million and the Company reduced debt by approximately $7 million

"Our top-line results for the quarter continued to be strong and were in line with our expectations," said LeCroy President and Chief Executive Officer Tom Reslewic.  "With approximately 13.5% year-over-year growth, we expect the second quarter of 2012 to be our eleventh consecutive quarter of sequential sales growth.  Despite significant uncertainty in the global economic outlook and tumultuous financial markets in Europe, LeCroy booked record orders for the December quarter. However, the significant decline in the value of the Euro had a slightly negative effect on our margins."

"The second half of our fiscal year began with the launch of some very exciting new products that further extend our technology lead at the high end of the oscilloscope market," said Reslewic. "We continue to closely monitor the economic conditions and have modestly trimmed our expenses consistent with the moderating growth in the global economy.  We will be watching the early quarter order rate very carefully and we expect to provide guidance for our third quarter and fiscal year on our earnings call later this month."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs