"MILPITAS, Calif., March 4, 2009 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC), a global provider of focused, cost-optimized ATE solutions, today announced financial results for its 2009 second fiscal quarter ended January 31, 2009.
Sales for the quarter were $30,401,000. Net loss for the quarter was $(54,546,000), or $(0.43) per share on a GAAP basis. Excluding the net impact of special items totaling $21,075,000, and amortization of purchased intangibles of $4,446,000, the net loss for the quarter was $(29,025,000), or $(0.23) per share on a non-GAAP basis.
Dave Tacelli, chief executive officer and president, commented, "During our second fiscal quarter, business conditions deteriorated even further than expected as evidenced by our preannouncement. While it appears that LTX-Credence may have reached a cycle bottom, it's difficult to predict when there will be consistent improvement in the overall business environment. During this difficult period, we are focused on developing the right products to drive market share growth and reducing our break-even to drive cross-cycle profitability."
Third Quarter Fiscal 2009 Outlook
For the quarter ending April 30, 2009, revenue is expected to be approximately $28 million, plus or minus 10%. The net loss is expected to be in the range of $(0.22) to $(0.19) per share, assuming 127 million shares outstanding. The net loss guidance does not include amortization of purchased intangibles of $4.4 million."