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LTX CORPORATION ANNOUNCES PROFITABLE FOURTH QUARTER

 WESTWOOD, Mass., Sept. 17 /PRNewswire/ -- LTX Corporation (OTC: LTXX) announced today its financial results for the year ended July 31, 1993. Sales were $172,932,000 compared to sales of $149,106,000 in fiscal year 1992. The net loss was $(4,309,000) or $(0.20) loss per share compared to a net loss of $(24,260,000) or $(1.22) loss per share in the prior year.
 Fourth quarter sales were $49,750,000 compared to $37,606,000 in the fourth quarter of fiscal year 1992. Net income for the quarter was $1,012,000 or $0.04 earnings per share compared to a net loss of $(3,929,000) or $(0.20) loss per share in the same quarter of the prior year.
 Graham Miller, LTX president, commented: "I am pleased that LTX returned to profitability in our fourth quarter. Our North American business remained strong and our European bookings were at a record level. Strategic wins at Siemens and GEC Plessey and solid follow-on business elsewhere in Europe contributed to the record bookings performance. The fourth quarter orders in combination with our third quarter produced the highest six month bookings in the company's history."
 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 multi-platform networking and information products for integrating the total production environment, from engineering through final test. Headquartered in Westwood, Mass., LTX has worldwide sales and service facilities to support its customer base.
 LTX CORPORATION
 CONSOLIDATED STATEMENT OF OPERATIONS
 (Unaudited, in thousands, except per share amounts)
 Three months ended 12 months ended
 July 31, July 31,
 1993 1992 1993 1992
 Net sales $49,750 $37,606 $172,932 $149,106
 Cost of sales 32,031 26,144 113,526 106,074
 Gross profit 17,719 11,462 59,406 43,032
 Engineering and product
 development expenses 5,225 5,232 19,744 21,943
 Selling, general and
 administrative expenses 11,309 9,878 42,548 44,329
 Income (loss) from
 operations 1,185 (3,648) (2,886) (23,240)
 Interest expense, net 982 931 3,979 3,520
 Income (loss) before income
 taxes and minority interest 203 (4,579) (6,865) (26,760)
 Provisions for income taxes --- --- --- ---
 Income (loss) before minority
 interest 203 (4,579) (6,865) (26,760)
 Minority interest in net
 loss of subsidiary 809 650 2,556 2,500
 Net income (loss) $1,012 $(3,929) $(4,309) $(24,260)
 Primary and fully diluted
 net income (loss) per share 4 cents (20 cents) (20 cents) $(1.22)
 Weighted average shares 24,067 19,970 21,089 19,888
 -0- 9/17/93
 /CONTACT: R. Scott Higgins of LTX, 617-461-1000/
 (LTXX)


CO: LTX Corporation ST: Massachusetts IN: CPR SU: ERN

JL-DD -- NE001 -- 2961 09/17/93 09:31 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
Words:475
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