LTX Credence posts loss for fourth quarter, full year of fiscal 2010

LTX Credence posts loss for 4Q of fiscal 2010

WASHINGTON — LTX Credence Corp. posted a loss for its fiscal 2009 fourth-quarter and full-year results, but said the outlook for the first quarter of 2010 appears brighter.

The company posted a loss of $9.6 million, or 8 cents per share, on $35.2 million in sales for its fiscal fourth quarter, ended July 31, 2009. That compares with earnings of $630,000, or 1 cent per share, on $35.8 million in sales for the year-ago period.

For the full year, LTX reported a loss $137.3 million, or $1.13 per share, on sales of $137.4 million. That compares with a loss of $600,000, or a penny per share, on sales of $135.8 million last year.

LTX Credence, based in Milpitas, Calif., makes chip testing equipment for the volatile semiconductor industry. The company said it believes its business has “moved off the bottom cycle” and will continue to grow in the first quarter of fiscal 2010.

LTX Credence said it expects to return to positive EBITDA — earnings before interest, taxes, depreciation and amortization — in the first quarter. The company projects revenue of $40 million to $42 million and a net loss, excluding special items, of 5 cents to 3 cents per share for the period, which ends Oct. 31.

LTX Credence’s shares were unchanged at $1.09 Thursday.