LTX-Credence Corporation – LTXC – Diamondx and DragonRF are key components of the Company’s growth strategy

LTX-Credence Corporation (Nasdaq:LTXC), a global provider of market focused, cost-optimized ATE solutions, today announced financial results for its fiscal quarter ended April 30, 2012.

Net sales for the quarter were $30,837,000 compared to the prior quarter net sales of $24,082,000. Net loss for the quarter was $(6,628,000), or $(0.14) per share on a GAAP basis. Excluding the impact of restructuring charges of $739,000, and amortization of purchased intangible assets of $791,000, net loss for the quarter was $(5,098,000), or $(0.10) per share on a non-GAAP basis.

Dave Tacelli, chief executive officer and president, commented, “Our recent product introductions, the Diamond_x and DragonRF, are key components of the Company’s growth strategy, and we are excited about the positive feedback we have received from customers. Over the next fiscal year we expect Diamond_x and DragonRF to account for approximately 20-30% of our product revenues, as customers who have already adopted these new technologies ramp in volume, and additional customers come on board.

As fourth quarter guidance suggests, the new cycle is gaining momentum as business is expanding beyond the mobility markets. The Company is well positioned as we enter the next growth phase due to a broadening of our customer base and our strong lineup of products.”

LTXC Fourth Quarter Fiscal 2012 Outlook

For the fiscal quarter ending July 31, 2012, net sales are expected to be in the range of $42 million to $46 million. Non-GAAP net income is expected to be in the range of $0.00 to $0.04 per share, assuming 49.7 million fully diluted shares outstanding. The non-GAAP net income guidance excludes amortization of purchased intangible assets of $791,000.

About LTX-Credence Corporation – LTXC

LTX-Credence (LTXC) is a global provider of ATE solutions designed to deliver value through innovation enabling customers to implement best-in-class test strategies to maximize their profitability. LTXC addresses the broad, divergent test requirements of the wireless, computing, automotive and entertainment market segments, offering a comprehensive portfolio of technologies, the largest installed base in the Asia-Pacific region, and a global network of strategically deployed applications and support resources.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.