LTX-Credence buys back additional $13.3 million 3.5% convertibles

By Jennifer Chiou

New York, Oct. 15 - LTX-Credence Corp. repurchased $13.3 million more of its 3.5% convertible senior subordinated notes due May 15, 2010 at a cost of $9.3 million during its fourth fiscal quarter of 2009, which ended July 31, according to a 10-K filing with the Securities and Exchange Commission.

Formed by the 2008 merger of LTX Corp. and Credence Systems Corp., LTX-Credence is a Milpitas, Calif.-based maker of automated test equipment solutions for the wireless, computing, automotive and entertainment markets.

The convertibles were issued by Credence Systems in December 2006.

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