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Xcerra swings to loss in fiscal Q2

Xcerra Corp. said its normalized net income for the fiscal second quarter ended Jan. 31 was a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.4 million, compared with income of $4.0 million in the prior-year period.

The normalized profit margin dropped to negative 3.4% from 4.8% in the year-earlier period.

Total revenue declined 13.3% year over year to $72.3 million from $83.5 million, and total operating expenses fell 5.5% from the prior-year period to $76.7 million from $81.1 million.

Reported net income totaled a loss of $5.9 million, or a loss of 11 cents per share, compared to income of $4.4 million, or 8 cents per share, in the prior-year period.