LTX-Credence (LTXC) Swings To Profit, Sales Double

LTX-Credence Corporation LTXC released financial results on Wednesday morning that beat Wall Street estimates. LTX-Credence Corporation reported that it swung to fiscal 3rd quarter earnings of $6.8 million, or 5 cents per share, from a loss of $27.8 million, or 22 cents per share, a year earlier. Excluding special items, LTX-Credence Corporation reported earnings of 5 cents per share. The company's revenue more than doubled to $56.1 million, up from $24.7 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 4 cents per share, on revenue of $53.9 million. LTX-Credence Corporation forecast fiscal 4th quarter adjusted earnings of 10 cents per share, on revenue of $71 million to $73 million. The guidance was far better than the consensus analyst estimates of 6 cents earnings per share, on revenue of $58.1 million. Shares of LTX-Credence Corporation were up nearly 15% at $3.45 per share in pre-market trading.