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LTX-Credence cuts guidance
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EE Times


SAN FRANCISCO—Automated test equipment vendor LTX-Credence Corp. said Wednesday (Feb. 11) it now expects revenue for the quarter ended Jan. 31 to be about $30 million, down from previous guidance of $37 million to $42 million.

The company said it expects to report a loss greater than previously anticipated for the quarter. The company said in December it expected to report a non-GAAP loss of 19 to 22 cents per share for the quarter. LTX-Credence (Milpitas, Calif.) is expected to file its quarterly report March 4.

"Overall economic conditions remain weak in an unprecedented downturn for the industry," said Dave Tacelli, LTX-Credence president and CEO, in a statement. "As we continue to streamline the combined company and to better position ourselves for the current environment, we have taken the necessary steps inside the quarter to improve the business model and reduce break-even.

"Since completion of the merger, we now expect to realize over $65 million in annual cost savings by the end of the fiscal year," Tacelli said.



Related Links:

  • Advantest stays in red as sales, orders dive
  • LTX-Credence posts loss



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