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plans to cut 4,000 jobs and said it sees flat sales in coming quarters.

The Palo Alto, Calif., maker of testing equipment also said its loss in the fiscal fourth quarter was $275 million, or 60 cents a share, meeting analysts' expectations. The company earned $328 million, or 71 cents a share, in the year-ago period.

The company cited falling orders for semiconductors and testing equipment and said it plans to sell $1 billion of debt.