LTXX...Beat Gruntals' agressive estimate by 8 cents> Off today's high of 21. Profit taking on the news> Good
buying opportunity on a quality company in a strong sector...Semi Conductor testing
company.
Princeton, New Jersey, Nov. 17 (Bloomberg Data)
-- LTX Corp. (LTXX US) was reiterated short-term
''outperform'' by analyst Mona E. Eraiba at Gruntal
& Co. The long-term rating was also reiterated
''outperform.'' The intermediate and long-term price
targets are $25 and $35 per share, respectively.
WESTWOOD, Mass.--(BUSINESS WIRE)--Nov. 18, 1999--LTX
Corporation (Nasdaq:LTXX - news), today announced financial
results for its first quarter ended October 31, 1999. Sales were
$60,005,000 compared to $27,018,000 in the first quarter last year.
Net income was $6,874,000 or $0.17 per share, compared to a net loss of $(6,892,000), or
$(0.19) per
share in the first quarter of last year.
Roger Blethen, President and Chief Executive Officer of LTX commented, ''Our strong
performance
during the quarter was the result of continuing execution of our Fusion® product strategy.
We met our
goal and won three new customers for Fusion. Orders for the quarter of $68 million included
a significant
amount from Fusion customers gained during the last three quarters. For the first time,
Fusion HF orders
accounted for the majority of our product orders during the quarter.''
Mr. Blethen continued, ''Our improved results, coupled with the successful public offering
we completed
during the quarter, has led to a stronger financial position for the Company. As momentum
for Fusion
continues to build, this strong financial position will allow us to fund the growth needed to
satisfy growing
customer demands. We remain focused on the development of Fusion, our single-platform
test system
designed for testing system-on-a-chip and advanced mixed signal semiconductor devices for
the rapidly
expanding Internet-based and wireless communications markets.'' |
