LTXX fiscal 3rd quarter report.
<<WESTWOOD, Mass., May 13, 2004 (BUSINESS WIRE) -- LTX Corporation (Nasdaq: LTXX), a leading provider of semiconductor test solutions, today announced financial results for its fiscal third quarter ended April 30, 2004. The results were at the high-end of the Company's guidance and showed significant improvement from the previous quarter.
Sales for the quarter were $70,333,000, up 20% from prior quarter sales of $58,415,000. Net income for the quarter was $4,306,000, or $0.07 per share, compared to a net loss for the 2004 second fiscal quarter of $(1,435,000), or $(0.03) per share. Sales were $28,777,000 for the third quarter of fiscal year 2003 and net loss was $(17,976,000), or $(0.36) per share. Orders for the third quarter of fiscal 2004 were $77.3 million yielding a book-to-bill ratio of 1.1 to 1.
Roger W. Blethen, chairman and chief executive officer, said, "LTX achieved its business objectives for the third quarter. Revenues and earnings were at the high end of the guidance range and product orders were up 27%. Strength during the quarter came from an expanding base of IDM and subcontract customers across a diverse range of SOC applications. LTX benefited from robust market conditions, a solid business strategy, and strong execution by the LTX team.
Based on improving industry conditions, an expanding range of end-market applications, and high capacity utilization at our customers, we believe that LTX's Fusion platform and outsourced manufacturing model present a great opportunity to win customers and gain market share by investing in technology and emerging business opportunities."
Fourth Quarter 2004 Outlook
Revenue for the fourth quarter of fiscal year 2004 is expected to be in the range of $77 million to $80 million, with gross margin at approximately 43%. The earnings per share is projected to be in the range of $0.12 to $0.14, assuming 64.2 million fully diluted shares, and a 0% tax rate. This guidance does not include any provisions for special charges.
The Company will conduct a conference call today, May 13, 2004, at 10:00 AM EDT to discuss third quarter results. The conference call will be simulcast via the LTX web site (www.ltx.com). Audio replays of the call can be heard through May 27, 2004 via telephone by dialing 888.286.8010; passcode 45279742 or by visiting our web site at www.ltx.com.>> |
