UPDATE: LTX-Credence Reports 12% Decline In FQ4 Earnings, Issues Downbeat FQ1 Forecast

LTX-Credence Corp LTXC reported a 12% drop in its fiscal fourth-quarter earnings and issued a downbeat forecast for its first fiscal quarter. LTX-Credence reported its quarterly profit at $12.1 million, or $0.24 per share, down from $13.7 million, or $0.27 per share, in the year-ago period. Excluding merger-related expenses and other items, LTX-Credence's earnings came in at $0.27 per share. LTX-Credence's sales dipped 14% to $62.7 million. In May, LTX-Credence forecast earnings between $0.25 and $0.29 per share on revenue of $63 million to $67 million. LTX-Credence projects FQ1 loss of $0.06 to $0.10 per share on revenue of $35 million to $39 million. However, analysts expected a profit of $0.26 per share on revenue of $64 million. LTX-Credence shares gained 0.30% to $6.63 in after-hours trading.