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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