Verigy 3rd-quarter results beat analyst views with increased chip testing equipment sales

Verigy 3Q report exceeds analyst views

CUPERTINO, Calif. — Verigy Ltd. reported a third-quarter profit Thursday as sales of its semiconductor testing equipment rose.

For the quarter that ended July 31, Verigy earned $13 million, or 21 cents per share, compared with a loss of $21 million, or 36 cents per share, in the year-ago quarter.

When excluding $1.6 million in restructuring and manufacturing transition charges, Verigy earned 23 cents per share — much higher than the 16 cents per share analysts polled by Thomson Reuters expected.

Revenue jumped 77 percent to $154 million, beating analyst expectations for $147.6 million in revenue.

The company said that product revenue more than doubled to $122 million, while services revenue increased 10 percent to $32 million.

For the current quarter, Verigy expects a profit of 22 cents to 27 cents per share, or 24 cents to 29 cents on an adjusted basis, on $157 million to $167 million in revenue.

Analysts are looking for adjusted earnings of 22 cents per share on $157 million in revenue.

Verigy shares rose 22 cents, or 2.5 percent, to $8.95 in after-hours trading, having finished regular trading up 6 cents at $8.77.