Credence Systems (CMOS) was down 10.1% in preopen Island trading. After Wednesday's close, the maker of semiconductor test equipment posted a second-quarter loss excluding charges of 26 cents per share, wider than the Thomson Financial/First Call consensus of an 8-cent loss and down from last year's 63-cent profit.

The company said orders came to a virtual halt. Credence also said it will buy

Integrated Measurement Systems

(IMSC)

for about $170 million in stock. Integrated Measurement was up 55.7% preopen.