PRIMA COLOMBIA HARDWOOD INC WT (NASDAQ:LTX)

Dave Tacelli, chief executive officer and president, commented, "Our results for the third quarter, and guidance for the fourth, indicate that our business continues to gain momentum. We continue to grow market share and win new customers in our business initiatives targeting the microcontroller, general purpose wafer probe and precision analog market segments. We are benefiting from a strong growth cycle, have a pipeline of new products, a balance sheet essentially debt free and a business model delivering results among the best in our industry."

For the quarter ending July 31, 2010:

• Revenue is expected to be in the range of $71 million to $73 million, a sequential increase of approximately 27% to 30% from the 2010 third fiscal quarter. 
  
• The non-GAAP net income is expected to be approximately $0.10 per share, assuming 147 million basic shares outstanding. 
  
• The non-GAAP net income guidance excludes amortization of purchased intangible assets of $2.7 million. 

Its Board of Directors have authorized the Company to submit a proposal to its shareholders at a special meeting seeking authorization to effect a reverse split of the Company's common stock at a ratio of one-to-three. On May 26, 2010, the Company had approximately 147 million shares of common stock outstanding.

Dave Tacelli, chief executive officer and president, commented, "We believe this transaction will broaden LTX-Credence's appeal to institutional investors, and reduce transaction costs and certain administrative expenses. Moreover, the reverse split comes at a time when LTX-Credence's strategic execution and focus on fundamentals are strengthening the company's financial and competitive position, thereby enhancing long-term shareholder value."