Verigy Ltd. (MM) (NASDAQ:VRGY)
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Verigy Ltd. (NASDAQ:VRGY), a premier semiconductor test company, today
reported preliminary financial results for its fiscal third quarter,
ended July 31, 2007. Revenues for the quarter are expected to be in the
range of $201 million to $203 million. This falls within the guidance
range of $195 million to $205 million given by the company on May 24,
2007. The book-to-bill ratio for the quarter is expected to be at least
1.0.
GAAP and non-GAAP earnings per diluted share for the fiscal third
quarter are also expected to fall within the previously provided
guidance range. The company expects GAAP EPS to be $0.43 to $0.48 per
diluted share, and on a non-GAAP basis, EPS to be $0.45 to $0.50 per
diluted share after excluding $1 to $1.5 million of charges related to
separation and restructuring in connection with Verigy’s
spin-off from Agilent Technologies last year.
The company will release its full financial results for the third fiscal
quarter after the close of the market on Wednesday, Aug. 22, 2007.
Additional details on Verigy’s third quarter
results will be presented in a conference call with investors on
Wednesday, Aug. 22, 2007 beginning at 1:30 p.m. (Pacific). Additional
details of the call and webcast will be provided with the full financial
results.
About Verigy
Verigy designs, develops, manufactures, sells and services advanced test
systems and solutions for the memory and system-on-chip segments of the
semiconductor industry. Verigy’s scalable
platform systems are used by leading semiconductor companies worldwide
in design validation, characterization, and high volume manufacturing
test. Formerly part of Agilent Technologies, the company began doing
business as Verigy on June 1, 2006 and completed its initial public
offering on June 13, 2006. Information about Verigy can be found at www.verigy.com.
Forward-Looking Statements
This earnings release contains forward-looking statements, including
statements regarding Verigy’s expected results
for the third quarter. These forward-looking statements are based on
current information and estimates, and are not guarantees of future
performance or events. These statements reflect preliminary results and
are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements, including the inherent uncertainties of preliminary
financial results, and unexpected developments occurring in connection
with closing and reviewing our financial statements for the quarter.
Information About Non-GAAP Measures
Our management uses non-GAAP measures to evaluate the operating
performance of the company. By eliminating the separation and
restructuring charges associated with Verigy’s
spin-off from Agilent Technologies, management believes it is better
able to assess the operating performance of the business. Since
management finds the non-GAAP information to be useful, we believe that
our investors also benefit from seeing our results “through
the eyes” of management in addition to seeing
our GAAP results. This information also facilitates our management’s
internal comparisons to our historical operating results as well as to
the operating results of our competitors. Readers are reminded that
non-GAAP numbers are merely a supplement to, and not a replacement for,
GAAP financial measures. They should be read in conjunction with the
GAAP financial measures.