LeCroy expects revenue shortfall
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- July
- 2
LeCroy Corp., the Chestnut Ridge company that makes oscilloscopes, said today that its fiscal 2007 revenues will probably fall short of expectations and is cutting jobs in the Asia-Pacific area.
The company said it expects to report revenues of $152 million for the year that ended Saturday. LeCroy had previously projected revenues of $155 million to $160 million.
The company said orders in the fourth quarter were about $39 million but it shipped only $37 million worth of product due to the restructuring of a subsidiary in Japan.
LeCroy makes equipment that tests the electronic signals associated with computer chips.
Tom Reslweic, the company’s president and chief executive, said “distribution effectiveness issues� hurt the company’s performance in the United States and Asia during the year. But he said the company restructured its North American operations the past six months. “We are seeing positive early results in our domestic market, which improved noticeably in the fourth quarter.�
He said the company recently combined its sales team in Japan with the sales team of Iwatsu Texas Instruments Corp. as a way to increase its sales force in the country. As a result of the two companies combining their sales teams, LeCroy has been eliminating jobs in Asia, he said.
That restructuring had a greater impact on shipments in the fourth quarter than the company expected, LeCroy believes the changes will help its performance in fiscal 2008, he said.
This entry was posted
on Monday, July 2nd, 2007 at 3:44 pm by Allan Drury.
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