surged in late trading Tuesday after the maker of semiconductor test systems posted better-than-expected third-quarter results and gave a fourth-quarter projection well above forecasts. The company said it swung to a third-quarter profit of $8.1 million, or 13 cents a share, from a charge-laden loss of $45.7 million, or 75 cents a share, a year earlier. Sales for the quarter ended April 30 jumped to $56.3 million from $25.5 million. Analysts polled by Thomson First Call expected earnings of 9 cents a share and sales of $52.7 million.
For the fourth quarter, LTX forecast earnings of 22 cents to 24 cents a share, with revenue of $68 million to $70 million. Wall Street had forecast earnings of 11 cents a share and sales of $57.1 million. LTX shares advanced $1.26, or 22%, to $7.07 after-hours.
shares advanced after the chip-equipment maker's fiscal second-quarter sales topped forecasts. The company posted net income of $5.3 million, or 12 cents a share, including a charge of 22 cents a share related to restructuring and a gain of 4 cents a share from the sale of investments. Analysts, whose forecasts usually exclude one-time items, predicted earnings of 21 cents a share for the April quarter. A year earlier, Photronics earned $10.6 million, or 28 cents a share. Second-quarter sales rose to $119.5 million from $112.9 million, surpassing Wall Street's estimate of $116 million. Shares rose 69 cents, or 3.9%, to $18.50.
shares were lower even after the chip-equipment maker announced second-quarter earnings that topped expectations. The company earned $412.8 million, or 26 cents a share, on sales of $2.25 billion. A year earlier, the company earned $304.8 million, or 18 cents a share, on $1.86 billion in sales. Analysts were expecting earnings of 23 cents a share, with sales of $2.14 billion for the quarter ended April 30. In February, Applied Materials forecast earnings of 22 cents to 23 cents a share on sales ranging from $2.1 billion to $2.14 billion.
For the third quarter, Applied expects to earn 28 cents to 30 cents a share, above analysts' estimate of 27 cents. The company forecast sales of $2.36 billion to $2.47 billion, compared with Wall Street's projection of $2.33 billion. Shares sank 60 cents, or 3.4%, to $17.25 in late trading.
slipped after the chip company said it received notification from Nasdaq that its shares are subject to delisting. The company hasn't met the market's requirements for the timely filing of its most recent quarterly report. The company plans to request a hearing to appeal the decision. Vitesse dropped 25 cents, or 15%, to $1.60 after hours.
shares rose after the stun-gun maker said it plans to restate its results for the March, June and September quarters of last year. The company said it determined that its method for calculating indirect manufacturing overhead costs applied to inventory was incorrect. Shares climbed 34 cents, or 3.6%, to $9.78 in late trading.