NORWOOD, Mass., June 18, 2015 (GLOBE NEWSWIRE) -- Xcerra Corporation (Nasdaq:XCRA), today announced an update to its previously announced guidance for the Company's fourth fiscal quarter ending July 31, 2015. Due to the potential sale of the Company's semiconductor test interface board business based in Santa Clara, CA (the "Interface Board Business") pursuant to a non-binding letter of intent as described in a prior announcement, the Interface Board Business will be treated as a discontinued operation. Accordingly, the Company is hereby revising its fourth quarter fiscal 2015 guidance, which no longer includes the financial performance of the Interface Board Business, as follows:
|Revenues||$110M - $115M||$101M - $105M|
|Non-GAAP Net Income*||$0.11 - $0.16||$0.12 - $0.16|
* Non-GAAP net income guidance excludes discontinued operations, amortization of purchased intangible assets of approximately $450,000, and assumes 55 million fully diluted shares outstanding.
Safe Harbor for Forward-Looking Statements
Any statements in this presentation about future expectations, plans and prospects for the Company, including statements regarding financial guidance on revenue, financial operating results (including net income or loss), earnings or loss per share, the possible sale of the Company's Interface Board Business, and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the Company's use of the words "believes," "anticipates," "plans," "expects," "may," "will," "would," "should," "intends," "estimates," "seeks" or similar expressions, whether negative or affirmative. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company's ability to reach agreement with the prospective purchaser of the Interface Board Business on the binding terms of the potential sales transaction, obtaining the requisite corporate, governmental, and contractual consents to the prospective transaction, the Company's ability to realize the anticipated benefits of its recent acquisition of the Multitest and Everett Charles Technologies businesses from an affiliate of Dover Corporation, whether the Company is able to timely develop new products, options and software applications and the level of customer demand for such products, options and software applications, and the Company's ability to meet its debt service obligations under its existing credit arrangement with Silicon Valley Bank, as well as the other important factors as are described in the Company's filings with the U.S. Securities and Exchange Commission, including those included under the heading "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2015. The Company disclaims any intention or obligation to update any forward-looking statements after the date of this presentation.
Xcerra Corporation is comprised of four businesses in the semiconductor and electronics manufacturing test markets: atg-Luther & Maelzer, Everett Charles Technologies, LTX-Credence and Multitest. The combination of these businesses creates a company with a broad spectrum of semiconductor and PCB test expertise that drives innovative new products and services, and the ability to deliver to customers fully integrated semiconductor test cell solutions. The Company addresses the broad, divergent requirements of the mobility, industrial, automotive and consumer end markets, offering a comprehensive portfolio of solutions and technologies, and a global network of strategically deployed applications and support resources. Additional information can be found at www.xcerra.com or at each product group's website; www.atg-lm.com, www.ectinfo.com, www.ltxc.com and www.multitest.com
Xcerra is a trademark of Xcerra Corporation.
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CONTACT: Investor Contact: Richard Yerganian, Vice President, Investor Relations Xcerra Corporation Tel. 781.467.5063 Email email@example.com