LTX-Credence Posts Q4 Loss

(RTTNews) - LTX-Credence Corp. (LTXC), a global provider of market focused, cost-optimized ATE solutions, reported that net loss for the fourth-quarter was $4.66 million or $0.10 per share, compared to net income of $1.36 million or $0.03 per share in the same quarter last year.

Excluding the impact of special items totaling $1.12 million, and amortization of purchased intangible assets of $396,000, non-GAAP net loss for the latest-quarter was $3.14 million or $0.07 per share. Non-GAAP net income for the prior year quarter was $1.74 million or $0.04 per share.

Net sales for the quarter were $37.52 million down from $43.46 million in the year ago quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.07 per share and revenues of $38.09 million for the quarter. Analysts' estimates typically exclude special items.

For the first-quarter ending October 31, 2013 net sales are expected to be in the range of $31 million to $35 million. Non-GAAP net loss is expected to be in the range of $0.09 - $0.14 per share. The non-GAAP net loss guidance excludes amortization of purchased intangible assets of approximately $192,000. Analysts expect the company to report earnings of $0.05 per share and revenues of $45.69 million for the first-quarter.