Printer Friendly

LTX ANNOUNCES FINANCIAL RESULTS

 LTX ANNOUNCES FINANCIAL RESULTS
 WESTWOOD, Mass., June 15 /PRNewswire/ -- LTX Corporation


(NASDAQ: LTXX) today announced its financial results for the third quarter ended April 30, 1992. Third quarter sales were $37,317,000 compared to sales of $51,571,000 in the same quarter of the prior year. The company reported a net loss of $4,615,000, or 23 cents per share, compared to net income of $1,841,000, or 12 cents per share, in the same quarter of the prior year.
 Graham Miller, president of LTX, stated, "Order rates in the third quarter were disappointing, particularly for our digital products and geographically, our business remained weak in Japan and Korea. Nevertheless, we were able to sustain our revenues at the rate of the first two quarters, while reducing our level of losses."
 LTX Corporation is a leader in the design, manufacture and marketing of computer-controlled equipment for testing linear, digital, mixed- signal and discrete devices. The company offers multiplatform networking and information products for integrating the total production environment, from engineering through final test. Headquartered in Westwood, LTX has worldwide sales and service facilities to support their expanding customer base.
 LTX CORPORATION
 CONSOLIDATED STATEMENT OF OPERATIONS
 (Unaudited, in thousands, except per share amounts)
 Three months ended Nine months ended
 4/30/92 4/30/91 4/30/92 4/30/91
 Net sales $37,317 $51,571 $111,500 $146,043
 Cost of sales 25,465 30,768 79,930 87,084
 Gross profit 11,852 20,803 31,570 58,959
 Engineering and product
 development expenses 5,230 5,532 16,711 16,072
 Selling, general and
 administrative expenses 10,627 12,261 34,451 33,741
 Income (loss) from (4,005) 3,010 (19,592) 9,146
 operations
 Interest expense, net 982 1,409 2,589 4,678
 Income (loss) before
 income taxes and
 minority interest (4,987) 1,601 (22,181) 4,468
 Provision for income taxes --- 300 --- 724
 Income (loss) before
 minority interest (4,987) 1,301 (22,181) 3,744
 Minority interest in net
 loss of subsidiary 372 540 1,850 775
 Net income (loss) $(4,615) $1,841 $(20,331) $4,519
 Net income (loss)
 per share:
 Primary (23 cents) 12 cents $(1.02) 34 cents
 Fully diluted (23 cents) 10 cents $(1.02) 28 cents
 Weighted average shares:
 Primary 19,964 15,520 19,859 13,381
 Fully diluted 19,964 22,171 19,859 22,054
 -0- 6/15/92
 /CONTACT: R. Scott Higgins of LTX, 617-461-1000/
 (LTXX) CO: LTX Corporation ST: Massachusetts IN: CPR SU: ERN


SH -- NE016 -- 0350 06/15/92 17:08 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 15, 1992
Words:437
Previous Article:STANDARD & POOR'S STOCK PRICE INDEX -- CLOSING, MONDAY JUNE 15, 1992:
Next Article:MORTGAGE AND REALTY TRUST RELEASES ANNOUNCEMENT
Topics:


Related Articles
LTX CORPORATION ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
LTX CORPORATION ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
LTX CORPORATION ANNOUNCES SECOND QUARTER EARNINGS
LTX ANNOUNCES IMPROVED FOURTH QUARTER BUSINESS
LTX CORPORATION ANNOUNCES FISCAL YEAR RESULTS
LTX ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER
LTX ANNOUNCES THIRD QUARTER RESULTS
LTX ANNOUNCES FIRST QUARTER RESULTS
LTX ANNOUNCES THIRD QUARTER RESULTS
LTX Announces Results for Fourth Quarter and Fiscal Year 1997

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters