LeCroy repurchases $14.5 million of convertible bonds at discount in third quarter

By Jennifer Chiou

New York, May 6 - LeCroy Corp. president and chief executive officer Tom Reslewic announced the repurchase of $14.5 million of convertible bonds for $5.6 million during the fiscal third quarter ended March 28.

"We made excellent progress in improving our capital structure during the quarter," Reslewic said in a news release.

"Our lower cost structure, the opportunity to extract cash from working capital, and some stabilization in our order rate gives us confidence in our ability to generate profits and cash in the quarters ahead."

LeCroy is a Chestnut Ridge, N.Y.-based communications test equipment company.

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