LTX Corp. falls on lower Q4 guidance
Shares of LTX Corp. (Nasdaq: LTXX) are falling on news before the opening bell that the maker of semiconductor test equipment lowered its guidance for the fiscal fourth-quarter ending July 31.
The Norwood, Mass.-based company now expects a net loss of between $0.07 per share and $0.08 per share, down from its previous forecast of a loss of between $0.04 per share and $0.06 per share. Seven analysts surveyed by Thomson Financial were projecting a loss of $0.05 per share.
LTX said it anticipates revenues of $30 million, below the previous estimate of sales between $33 million and $35 million. Wall Street was calling for revenues of $34.19 million.
“Industry conditions remained mixed through the end of July leading to LTX’s revenue shortfall,” CEO and President Dave Tacelli said.
Final results for the quarter will be announced on August 30.
During the fiscal fourth quarter of 2006, the company booked a net income of $13.93 million and revenues of $67.41 million.
At 3:18 p.m. ET the stock was down $0.56, or 15%, to $3.28.
