Semiconductors and Semiconductor Equipment
Company Overview of LTX-Credence Corporation
LTX-Credence Corporation designs, manufactures, markets, and services automated test equipment solutions for the wireless, computing, automotive, and consumer market segments of the semiconductor industry. Its product portfolio includes Diamond platform, a package for testing microcontrollers, as well as consumer and digital based application specific standard product (ASSP) and application specific integrated circuit (ASIC) devices; X-Series platform, which offers configurations for optimal testing of analog-based ASSP and ASIC, power, automotive, mixed signal, and radio frequency (RF) applications; and ASL platform that is used for testing linear, low-end mixed signal, precision analog, an...
825 University Avenue
Norwood, MA 02062
Founded in 1976
Key Executives for LTX-Credence Corporation
Chief Executive Officer
Total Annual Compensation: $600.0K
Chief Financial Officer
Total Annual Compensation: $380.4K
Vice President of Global Field Operations
Total Annual Compensation: $349.4K
Vice President of Marketing
Total Annual Compensation: $260.0K
Compensation as of Fiscal Year 2013.
LTX-Credence Corporation Key Developments
LTX-Credence Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended October 31, 2013; Provides Consolidated and Standalone Earnings Guidance for the Second Quarter of Fiscal 2014
Dec 3 13
LTX-Credence Corporation reported unaudited consolidated earnings results for the first quarter ended October 31, 2013. For the quarter, the company reported net sales of USD 32.767 million compared to USD 43.188 million a year ago. Loss from operations was USD 6.865 million compared to income from operations of USD 0.479 million a year ago. Net loss was USD 6.900 million compared to net income of USD 0.549 million a year ago. Basic and diluted loss per share was USD 0.14 compared to basic and diluted income per share of USD 0.01 a year ago. Non GAAP net loss was USD 5.007 million or USD 0.10 per diluted share compared to net income of USD 1.343 million or USD 0.03 per diluted share a year ago. Net capital expenditures were USD 1.8 million versus last quarter which was only USD 400,000 last quarter.
The company provided consolidated and standalone earnings guidance for the second quarter of fiscal 2014. For the period, the company expects consolidated net sales to be in the range of USD 69 million to USD 75 million. Non-GAAP net loss is expected to be in the range of USD 0.21 to USD 0.15 per share, assuming 48 million shares outstanding. The company expects depreciation expense to approximately USD 2.8 million on a run rate basis.
LTX-Credence Corporation Enters into Credit Agreement with Everett Charles Technologies LLC, Silicon Valley Bank
Dec 2 13
On November 27, 2013, in anticipation of the completion of the acquisition and to fund the purchase price therefor, LTX-Credence Corporation entered into a credit agreement with Everett Charles Technologies LLC (ECT and together with LTX-Credence, the Borrowers), Silicon Valley Bank, as lender, administrative agent and issuing lender (SVB), and the several lenders from time to time party thereto (the lenders). The credit agreement provides for a senior secured credit facility in favor of the borrowers in the aggregate principal amount of up to $55.0 million. The facility consists of a term loan facility for $50.0 million, that was advanced to the company on November 27, 2013, and a revolving credit facility (including a letter of credit facility) for up to $5.0 million that is available from time to time for five years after the funding date. Under the terms of the credit agreement, not more than one time during the period commencing on the funding date until the close of business on the date that is one day prior to the 42-month anniversary of the funding date, the facility may be increased by an aggregate amount not to exceed $20.0 million through an additional facility on a pari passu basis with the term loan, subject to specified conditions and the agreement of one or more Lenders to participate therein. All obligations under the facility are secured by a first priority security interest in substantially all of the borrowers' existing and future assets, including a pledge of the stock or other equity interests of the borrowers' domestic subsidiaries and of any first tier foreign subsidiaries, subject to specified conditions.
LTX-Credence Corporation Delays Earnings Release Date from November 26, 2013 to December 3, 2013
Nov 21 13
LTX-Credence Corporation announced that the Company has changed the date on which it will release financial results for its first fiscal quarter ended October 31, 2013 from November 26, 2013 to December 3, 2013 before the market opens.
Similar Private Companies By Industry
Recent Private Companies Transactions