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LeCroy reports quarterly loss of $3.4 million

August
12

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.

This entry was posted on Wednesday, August 12th, 2009 at 3:05 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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