LTX-Credence (LTXC -6.8%) tumbles after its FQ1 results provide more evidence of the ugly demand...

|By:, SA News Editor

LTX-Credence (LTXC -6.8%) tumbles after its FQ1 results provide more evidence of the ugly demand environment facing chip equipment makers: revenue of $33.7M (-46% Y/Y) and EPS of -$0.08 missed by $3.3M and $0.01. For seasonally weak FQ2, the company expects revenue of $26M-$30M and EPS of -$0.15 to -$0.20, below Street estimates of $35.6M and -$0.07.