Semiconductor test-equipment maker
posted a sharply narrowed loss on revenue that doubled from a year ago, and predicted better-than-expected earnings and revenue in the current quarter.
LTX lost $1.4 million, or 3 cents a share, on revenue of $58.4 million in the second quarter ended Jan. 31, compared with a loss of $22.9 million, or 46 cents a share, on revenue of $27.0 million a year ago. Analysts were forecasting a loss of 10 cents a share in the most recent quarter.
For the current third quarter, LTX predicted earnings of 5 cents to 8 cents a share on revenue of $67 million to $70 million. Analysts were forecasting earnings of a penny a share on revenue of $62.8 million, according to Thomson One Analytics.
The shares last traded on Instinet for $17.55, up 40 cents, or 2.3%, from their 4 p.m. EST close.
"While still in the early stages of this new growth cycle, we are pleased with our progress towards profitability well ahead of most expectations," the company said in a release. "Our efforts over the last couple of years to build a flexible business model, the foundation of which is fully outsourced manufacturing, appears to be paying off."
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