LTX Credence sees 1Q revenue of $40M-$42M

WASHINGTON — LTX Credence Corp. projects revenue of $40 million to $42 million and a net loss, excluding special items, of 5 cents to 3 cents per share for its fiscal 2010 first quarter, which ends Oct. 31.

The Milpitas, Calif., company, which makes chip testing equipment for the volatile semiconductor industry, said it believes its business has “moved off the bottom cycle” and will continue to grow in the first quarter of fiscal 2010. The company also said it expects to return to positive EBITDA — earnings before interest, taxes, depreciation and amortization — in the first quarter.

LTX Credence posted a loss of $9.6 million, or 8 cents per share, on $35.2 million in sales for its fiscal 2009 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’s shares were unchanged at $1.09 Thursday.