UPDATE: LTX-Credence Posts FQ3 Loss

LTX-Credence Corp (NASDAQ: LTXC) swung to a loss in the fiscal third quarter.

For the current quarter, LTX-Credence expects earnings of breakeven to $0.04 per share, on revenue of $42 million to $46 million. However, analysts were expecting a loss of a penny and revenue of $38 million.

LTX-Credence posted a quarterly loss of $6.63 million, or $0.14 per share, versus a year-ago profit of $23.6 million, or $0.47 per share. Excluding special items, the company lost $0.10 per share.

Its sales fell 47% to $30.8 million. The company in February had expected an adjusted loss of $0.17 per share on sales of $28 million to $32 million.

Its gross margin declined to 51.3% from 62.2%.

LTX-Credence shares closed at $6.18 yesterday.

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