Verigy: FY Q3 Revs Top Estimates; But Stock Slumps

Verigy (VRGY), which makes a semiconductor test equipment, posted revenue for its fiscal third quarter ended July 31 of $87 million, down 51% year over year, but up 23% sequentially, and above the Street consensus at $83.3 million. Non-GAAP loss was 24 cents a share, better than the Street consensus estimated loss of 30 cents.

For FY Q4, the company sees revenue of $90 million to $100 million, and a GAAP loss of 17-25 cents a share. The Street has been expected $94.2 million and a loss of 18 cents.

In late trading, VRGY is down 33 cents, or 2.7%, to $11.90.

Disclosure: Verigy is a spin-off from Agilent (A), where my wife was formerly employed. We are holders of Agilent shares, and received Verigy shares in the spin-off.