UPDATE: LTX-Credence Posts FQ3 Loss

LTX-Credence Corp 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.