LeCroy reports quarterly loss of $3.4 million
LeCroy Corp., the Chestnut Ridge oscilloscopes maker, reported a net loss of nearly $3.4 million, or 28 cents a share during its fiscal fourth quarter, worse than the net loss of $810,000, or 7 cents a share, a year earlier. Revenues fell to $27.2 million from $40.7 million a year earlier.
“LeCroy’s fourth-quarter results were consistent with our expectations,” Chief Executive Officer Tom Reslewic said in a written statement. “Reflecting the ongoing global recession, overall market demand was similar to the third quarter. Expected sequential declines in the European market were more than offset by improvements in the U.S. and selected Asian markets.”
LeCroy said that “aggressive restructuring” during the past two quarters has helped the company cut operating expenses and “be properly sized” for a challenging economy.
On the positive side, recent order trends “suggest that our business has stabilized overall, with some pockets of strength emerging as we enter the new fiscal year,” Reslewic said.