Xcerra Corporation reported unaudited consolidated earnings results for second quarter and six months ended January 31, 2018. For the quarter, net sales were $110,276,000 compared to the prior quarter's net sales of $120,286,000. GAAP net income attributable to the company was $7,931,000, or $0.14 per diluted share compared to $2,572,000 or $0.05 per diluted share a year ago. Excluding restructuring and related provision charges of $1,070,000, acceleration of debt financing costs of $891,000, amortization of purchased intangible assets of $137,000, and deal related expenses of $536,000, non-GAAP net income attributable to the company was $10,565,000, or $0.19 per diluted share compared to $3,554,000 or $0.07 per diluted share a year ago. Income from operations was $11,285,000 compared to $1,210,000 a year ago.

For the six months, net sales were $230,562,000 compared to $160,209,000 a year ago. Net income attributable to the company was $25,462,000, or $0.46 per diluted share compared to $2,590,000 or $0.05 per diluted share a year ago. Income from operations was $31,984,000 compared to $1,516,000 a year ago. Non-GAAP net income attributable to the company was $29,023,000, or $0.52 per diluted share compared to $3,869,000 or $0.07 per diluted share a year ago.

For the third quarter ending April 30, 2018, net sales are expected to be in the range of $110 million to $115 million. Non-GAAP net income per share is expected to be in the range of $0.19 to $0.23 per share, assuming 56 million shares outstanding. The non-GAAP net income per share guidance excludes amortization of purchased intangible assets of approximately $0.1 million. Gross margin is expected to be approximately 46% at the midpoint. EBITDA is expected to be approximately $17 million at the midpoint of the guidance.