LTX-Credence Earnings: Here’s Why Investors Don’t Like These Results
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. Shares are down 5.56%.
LTX-Credence Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.08 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Rose 45.43% to $35.02 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 $-0.05. It missed the average revenue estimate of $38.42 million.
Quoting Management: Dave Tacelli, chief executive officer and president, commented, “Results in the quarter were consistent with our expectations, given the weak seasonal demand typically associated with our second fiscal quarter. On a relative basis, our top line revenue outperformed the rest of the industry in part due to the revenue contribution from our new products. We expect the business cycle to regain positive momentum starting in our third fiscal quarter based on indications from customers regarding their increasing need for test capacity.”
Key Stats (on next page)…