Earnings Highlights and Review: Xcerra’s Revenue Jumped 29%; GAAP EPS Rocketed 133%

LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Xcerra Corp. (NASDAQ: XCRA), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=XCRA, following the Company’s reporting of its third quarter fiscal 2017 financial results on June 01, 2017. The semiconductor equipment testing Company surpassed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Earnings Reviewed

For its third fiscal quarter ended April 30, 2017, Xcerra’s net sales totaled $103.65 million compared to net sales of $80.12 million in Q3 FY16. The Company’s revenue numbers topped analysts’ forecasts of $97.1million.

Xcerra gross profit totaled $46.33 million in Q3 FY17 compared to $35.90 million in Q3 FY16. The Company’s income from continuing operations for the reported quarter totaled $8.89 million compared to $624,000 in the prior year’s same quarter.

For Q3 FY17, Xcerra’s GAAP net income was $7.55 million, or $0.14 per diluted share, compared to net income of $3.16 million, or $0.06 per diluted share, in Q3 FY16. Excluding amortization of purchased intangible assets of $148,000, restructuring of $187,000, and deal related expenses of $1.34 million, the Company’s non-GAAP net income for the reported quarter was $9.22 million, or $0.17 per diluted share, and ahead of Wall Street’s estimates of $0.12 per share.

Acquisition Update

On April 10, 2017, Xcerra announced that the Company and an affiliate of Sino IC Capital, Unic Capital Management Co., Ltd entered into a definitive agreement under which Unic Capital Management Co., Ltd will acquire all outstanding shares of Xcerra for $10.25 per share in cash. The transaction price valued Xcerra’s equity at approximately $580 million on a fully diluted basis and represented approximately a 16% premium to Xcerra’s average closing price over the 30-trading day period ending April 07, 2017.

Xcerra, in the earnings press release, stated that the process of obtaining approval from the Committee on Foreign Investment in the United States (CFIUS) is underway. As a result of the acquisition announcement, the Company will not hold a quarterly conference call and webcast, and will not provide an outlook for its future financial results.

Cash Matters

As of April 30, 2017, the Company had $92.31 million of cash and cash equivalents compared to $83.07 million as on July 31, 2016. The Company had a term loan worth $18.54 million at the end of the current quarter compared to $21.20 million as on July 31, 2016.

Stock Performance

On Thursday, June 22, 2017, the stock closed the trading session flat at $9.82 with a total volume of 331.18 thousand shares exchanging hands. Xcerra’s stock price skyrocketed 11.59% in the last three months, 26.87% in the past six months, and 57.12% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 28.53%. The stock is trading at a PE ratio of 29.05. At Thursday’s closing price, the stock’s net capitalization stands at $533.91 million.

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