Xcerra Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended July 31, 2016; Provides Earnings Guidance for the First Quarter Ending October 31, 2016
For the year, the company reported net sales of $324,206,000 compared to $397,978,000 a year ago. Income from continuing operations before provision for income taxes was $799,000 compared to $34,106,000 a year ago. Income from continuing operations was $2,459,000 or $0.05 per diluted share compared to $31,518,000 or $0.58 per diluted share a year ago. Net income was $11,174,000 or $0.21 per diluted share compared to $28,226,000 or $0.52 per diluted share a year ago. Non-GAAP net income was $1,864,000 or $0.03 per diluted share compared to $34,013,000 or $0.62 per diluted share a year ago.
For the fiscal quarter ending, October 31, 2016, net sales are expected to be in the range of $80 million to $84 million. Non-GAAP net income for the quarter is expected to be in the range of ($0.03) to $0.01 per share, assuming 54 million fully diluted shares outstanding. The non-GAAP net income guidance excludes amortization of purchased intangible assets of approximately $0.2 million.
The company expects about a gross margin of 43%. EBITDA expects to be approximately $3 million at the midpoint of this revenue range.