This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

LTX-Credence Announces Second Quarter Results

Stocks in this article: LTXC

NORWOOD, Mass., Feb. 27, 2013 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC), a global provider of market focused, cost-optimized ATE solutions, today announced financial results for its second quarter ended January 31, 2013.   

Net sales for the quarter were $35,016,000, compared to the prior quarter net sales of $43,188,000. Net loss for the quarter was $(3,276,000), or $(0.07) per share on a GAAP basis. Excluding the impact of special items totaling $(989,000), and amortization of purchased intangible assets of $396,000, non-GAAP net loss for the quarter was $(3,869,000), or $(0.08) per share.   

Dave Tacelli, chief executive officer and president, commented, "Results in the quarter were consistent with our expectations, given the weak seasonal demand typically associated with our second fiscal quarter.  On a relative basis, our top line revenue outperformed the rest of the industry in part due to the revenue contribution from our new products. We expect the business cycle to regain positive momentum starting in our third fiscal quarter based on indications from customers regarding their increasing need for test capacity.

This quarter also saw the launch of our important new product, Nighthawk, which is a low cost, high-performance RF option for testing connectivity devices. Nighthawk, when combined with our Diamondx tester, provides a compelling solution for semiconductor manufacturers looking to lower the cost of test for these types of price-sensitive devices. We believe Nighthawk, several years in development and unique in the industry, addresses the emerging trends in RF testing requirements."

Third Quarter Fiscal 2013 Outlook

For the fiscal quarter ending April 30, 2013, net sales are expected to be in the range of $35 million to $40 million. Non-GAAP net loss is expected to be in the range of $(0.10) to $(0.05) per share, assuming 47.5 million shares outstanding. The non-GAAP net loss guidance excludes amortization of purchased intangible assets of approximately $0.4 million.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs