Credence narrows quarterly loss amid ATE sales gain
Silicon Strategies
02/19/2004, 9:50 AM ET
MILPITAS, Calif.--Credence Systems Corp., a provider of test solutions, said sales for the first fiscal quarter of 2004 were $68.1 million, up 18 percent from prior quarter sales of $57.8 million, and up approximately 86 percent from $36.7 million in the first fiscal quarter of 2003.
Net loss for the quarter was $11.5 million, or minus $0.18 per share, compared to a net loss of $22.1 million, or minus $0.35 per share, in the prior quarter.
Net loss for the first fiscal quarter of 2004 included a pre-tax charge of approximately $0.7 million for the lease expense write-off associated with the company's relocation to its new corporate headquarters in Milpitas, Calif.
Net orders were $94.2 million, up 55 percent from prior quarter orders of $60.9 million.
"We are pleased to report the strongest quarterly revenue and bookings performance in nearly three years with significantly better gross margin and book-to-bill numbers," said Graham Siddall, chairman and chief executive officer of Credence, in a statement. "In general, we believe the industry's upward momentum across nearly every market segment is a strong indication that we are in the early stages of a broadbased recovery."
Revenue for the second quarter is expected to be approximately $84 to $87 million. The income per share amount on a GAAP basis is projected to be in the range of $0.00 to $0.02. This guidance reflects the tax provision, but does not include any provisions for one-time charges. |
