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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (12509)	11/13/2003 9:18:27 AM
From: The Ox	Read Replies (1) \| Respond to of 95487

LTX Announces First Quarter Financial Results Thursday November 13, 7:01 am ET WESTWOOD, Mass.--(BUSINESS WIRE)--Nov. 13, 2003--LTX Corporation (Nasdaq: LTXX - News), a leading provider of semiconductor test solutions, today announced financial results for its fiscal first quarter ended October 31, 2003. The results exceeded the Company's guidance and showed significant improvement from the Company's performance in the fourth quarter of fiscal year 2003. Sales for the quarter were $46,619,000, up 39% from prior quarter sales of $33,654,000. Net loss for the quarter was $(9,806,000), or $(0.19) per share on a GAAP basis, compared to a net loss for the 2003 fourth fiscal quarter of $(81,531,000), or $(1.61) per share on a GAAP basis, which included non-recurring charges totaling $65,686,000, or $1.30 per share. Sales were $30,007,000 for the first quarter of fiscal year 2003 and net loss was $(22,684,000), or $(0.46) per share on a GAAP basis. Orders for the first quarter of fiscal 2004 were $52 million yielding a book-to-bill ratio of 1.12 to 1. Roger W. Blethen, chairman and chief executive officer, said, "The three main goals we set out to achieve during the last two years of challenging business conditions--expanding the Fusion platform, winning new customers, and fully implementing our outsourced manufacturing strategy--enabled us to exceed our first quarter financial and operating objectives by a significant margin. Orders were up 30% from the fourth quarter and were at the highest level in more than two years. As we progress into our industry's next growth phase, we are positioned to deliver strong financial results." Second Quarter 2004 Outlook Revenue is expected to be in the range of $51 million to $54 million, with gross margin at approximately 35%. The earnings per share is projected to be a loss in the range of $(0.09) to $(0.11). This guidance does not include any provisions for one-time charges. The Company will conduct a conference call today, November 13, 2003, at 10:00 AM EST to discuss this release. The conference call will be simulcast via the LTX web site (www.ltx.com). Audio replays of the call can be heard through November 20, 2003 via telephone by dialing 888.286.8010; passcode 70476316 or by visiting our web site at www.ltx.com.