Verigy Reaffirms Third Quarter Revenue and Gross Margin Guidance Range
July 08 2009 - 4:13PM
Business Wire
Verigy Ltd. (NASDAQ: VRGY), a premier semiconductor test
company, today updated certain financial guidance for its third
fiscal quarter ending July 31, 2009.
Revenue for the third quarter is expected to increase 10 percent
to 25 percent from the $71 million reported for the second quarter,
which is consistent with prior guidance. As Verigy previously
disclosed, the company does not expect third quarter revenue from
Touchdown Technologies, which it acquired on June 15, 2009. Also
consistent with previous guidance, Verigy expects gross margins to
improve from two to five percentage points from the 31 percent
level reported for its second quarter.
As a result of the acquisition of Touchdown Technologies, Verigy
expects incremental cash consumption of approximately $4 million in
the third quarter from the levels that would have been incurred
absent the acquisition. In addition, as previously disclosed, while
Verigy expects this acquisition to incrementally increase its
quarterly $110 million breakeven target in the near term, the
company has not yet quantified the overall impact to its total
company target model.
Verigy expects to announce the full results of its third quarter
financial results on August 20, 2009. Additional details of the
earnings announcement and related webcast investor call will be
provided at a later date.
About Verigy
Verigy�provides advanced semiconductor test systems and
solutions�used by leading companies worldwide in design validation,
characterization, and high-volume manufacturing test. Verigy
offers�scalable platforms�for a wide range of system-on-chip
(SOC)�test solutions,�and memory test solutions�for Flash,
DRAM�including high-speed memories,�as well as multi-chip packages
(MCP). Advanced analysis tools accelerate design debug and yield
ramp processes for Verigy�s customers. Additional information about
Verigy can be found at www.verigy.com.
Forward-Looking
Statements
This earnings release contains forward-looking statements,
including statements about our expected revenue, gross margin and
cash consumption for the fiscal quarter ending July 31, 2009.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. The risks and
uncertainties include, but are not limited to, continued
uncertainty surrounding the timing and strength of the global
economic recovery and the impact on our customers and orders, the
strength of our customers� businesses and unforeseen changes in the
demand for current and new products and technologies. Additional
factors that may cause results to differ materially from those in
the forward-looking statements are discussed in our most recent SEC
filings. In those filings you will find descriptions of risk
factors that could affect our future results. These forward-looking
statements are only valid as of this date, and Verigy undertakes no
duty to update any forward-looking statements.
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