Xcerra Announces First Quarter Results

First Quarter Notables:
  • Semiconductor Test Solutions sales up 13% year-over-year
  • Record quarter for Diamondx sales
  • Two new customer wins for the MT2168 XT pick and place handler

NORWOOD, Mass., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Xcerra Corporation (NASDAQ:XCRA), today announced financial results for its first fiscal quarter ended October 31, 2016.

Net sales for the quarter were $80,085,000 compared to the prior quarter's net sales of $91,234,000.  GAAP net income for the quarter was $18,000 or $0.00 per share.  Excluding restructuring charges of $107,000, and amortization of purchased intangible assets of $190,000, non-GAAP net income for the quarter was $315,000, or $0.01 per share. 

Dave Tacelli, president and chief executive officer, commented, "While sales were at the low end of guidance, our non-GAAP net income was at the high end. Earnings for the quarter outperformed our model due to a favorable product mix, which generated higher gross margins. As expected, we experienced softness in certain market segments, such as RF power amplifier testing, however, this was offset by strong demand for our Diamondx product, including shipments for testing flat panel display (FPD) driver ICs.

We are encouraged that our outlook for fiscal Q2 is stronger than a year ago and reflects a recovery in the RF PA space, additional FPD driver IC tester shipments, stronger handler sales and improvement in our EMS business segment."

Second Quarter Fiscal 2016 Outlook

For the fiscal quarter ending January 31, 2017, net sales are expected to be in the range of $77 million to $81 million.  Non-GAAP net loss for the quarter is expected to be in the range of $(0.04) to $0.00 per share, assuming 54 million shares outstanding.  The non-GAAP net loss guidance excludes amortization of purchased intangible assets of approximately $0.2 million.

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