AP News

LTX-Credence turns 1Q profit

NORWOOD, Mass. (AP) — Semiconductor equipment testing company LTX-Credence Corp. said Thursday that it turned a profit in the fiscal first quarter on strong results from its mobility business.

LTX-Credence earned $549,000, or a penny per share, over the three months ended Oct. 31. A year ago it lost $4.9 million, or 10 cents per share. Excluding one-time items, net income was 3 cents per share. Revenue grew by 28 percent, to $43.2 million.

Analysts expected 4 cents per share and $43.8 million in revenue, according to FactSet.

LTX-Credence reported strong demand for its PAx test, which is used to test radio frequency devices for smartphones.

In the second quarter the company expects to take an adjusted loss of 4 to 8 cents per share on $35 million to $39 million in revenue. Analysts project a loss of 5 cents per share and $35.3 million in revenue, on average.

LTX-Credence shares rose 24 cents, or 4.2 percent, to $.5.90 in afternoon trading.

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