LTX-Credence Earnings: Everything You Must Know Now
LTX-Credence Corporation (NASDAQ:LTXC) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
LTX-Credence Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.08 in the quarter versus EPS of $-0.10 in the year-earlier quarter.
Revenue: Rose 17.7% to $36.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LTX-Credence Corporation reported adjusted EPS loss of $0.08 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $38.19 million.
Quoting Management: Dave Tacelli, chief executive officer and president, commented, “The adoption of Diamondx by new and existing customers is ahead of our expectations. We now have sixteen customers and approximately forty applications in either production or development. Changes in the volume ramp of some of our customers’ new products have impacted the short term need for additional test capacity. However, we expect sales of Diamondx to accelerate in the back half of the calendar year given current customer forecasts.”
Key Stats (on next page)…