LTX-Credence Announces Fourth Quarter Results; Provides Outlook

LTX-Credence Corporation LTXC today announced financial results for its fourth quarter and fiscal year ended July 31, 2010. Sales for the 2010 fourth fiscal quarter were $73,163,000, up 30% from the prior quarter. Net income for the quarter was $14,116,000, or $0.09 per diluted share on a GAAP basis. Excluding the net impact of special items totaling $378,000, and amortization of purchased intangible assets of $2,664,000, the net income for the quarter was $17,158,000, or $0.11 per diluted share on a non-GAAP basis. For the twelve-month period ended July 31, 2010, sales were $219,082,000, an increase of approximately 60% from the prior fiscal year. Net income was $18,564,000, or $0.13 per diluted share on a GAAP basis. Excluding the net impact of special items totaling $(1,645,000), and amortization of purchased intangible assets of $10,655,000, the net income for the year was $27,574,000, or $0.19 per diluted share on a non-GAAP basis. First Quarter Fiscal 2011 Outlook For the quarter ending October 31, 2010, revenue is expected to be in the range of $75 million to $80 million. The non-GAAP net income is expected to be $0.11 to $0.13 per diluted share, assuming 150 million diluted shares outstanding. The non-GAAP net income guidance excludes amortization of purchased intangible assets of $1.5 million.