LTX-Credence Earnings: Everything You Must Know Now

LTX-Credence Corporation (NASDAQ:LTXC) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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LTX-Credence Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.08 in the quarter versus EPS of $-0.10 in the year-earlier quarter.

Revenue: Rose 17.7% to $36.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: LTX-Credence Corporation reported adjusted EPS loss of $0.08 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $38.19 million.

Quoting Management: Dave Tacelli, chief executive officer and president, commented, “The adoption of Diamondx by new and existing customers is ahead of our expectations. We now have sixteen customers and approximately forty applications in either production or development. Changes in the volume ramp of some of our customers’ new products have impacted the short term need for additional test capacity. However, we expect sales of Diamondx to accelerate in the back half of the calendar year given current customer forecasts.”

Key Stats (on next page)…

Revenue increased 3.66% from $35.02 million in the previous quarter. EPS were the same at $-0.08 in the quarter as EPS of $-0.08 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.14 to a profit $0.04. For the current year, the average estimate has moved down from a profit of $0.16 to a loss of $0.08 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)