Xcerra Announces Second Quarter Results


Xcerra Corporation      
Consolidated Statements of Operations      
(in thousands, except earnings per share data)        
(unaudited)        
  Three Months Ended  Six Months Ended 
  January 31,  January 31, 
   2016   2015    2016   2015  
       
Net sales$72,334 $83,453  $150,735 $199,674  
Cost of sales 41,729  46,790   87,998  109,812  
Gross profit 30,605  36,663   62,737  89,862  
       
Engineering and product development expenses 14,834  15,625   29,897  31,695  
Selling, general, and administrative expenses 18,907  18,262   36,860  40,413  
Amortization of purchased intangible assets 296  449   710  984  
Restructuring 252  230   384  938  
Income (loss) from continuing operations (3,684) 2,097   (5,114) 15,832  
       
Other income, net 449  4,058      1,912     3,579    
Income (loss) from continuing operations before provision for income taxes   (3,235 )   6,155       (3,202 )   19,411    
Provision for income taxes   692     1,563       1,603     2,326    
Income (loss) from continuing operations   (3,927 )   4,592       (4,805 )   17,085    
Income (loss) from discontinued operations, net of tax   8,363     (663 )     7,576     (1,094 )  
Net income $ 4,436   $ 3,929     $ 2,771   $ 15,991    
             
Basic net income (loss) per share:            
Net income (loss) from continuing operations $ (0.07 ) $ 0.08     $ (0.09 ) $ 0.32    
Net income (loss) from discontinued operations, net of tax   0.16     (0.01 )     0.14     (0.02 )  
Basic net income (loss) per share $ 0.08   $ 0.07     $ 0.05   $ 0.30    
             
Diluted net income (loss) per share:            
Net income (loss) from continuing operations $ (0.07 ) $ 0.08     $ (0.09 ) $ 0.32    
Net income (loss) from discontinued operations, net of tax   0.16     (0.01 )     0.14     (0.02 )  
Diluted net income (loss) per share $ 0.08   $ 0.07     $ 0.05   $ 0.30    
             
Weighted-average common shares used in computing net income (loss) per share:            
Basic   53,608     54,362       54,049     52,745    
Diluted   53,608     54,667       54,141     53,510    
             

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