Teradyne announces Q3 results
Oct 20, 2004
Teradyne, Inc. reported sales of $457.8 million for the third quarter of 2004, and net income of $41.1 million, or $0.21 per share. Net orders for the quarter were $284.1 million.
"Our customers sharply lowered their capital spending in the third quarter, resulting in a significant reduction in our orders compared with the second quarter," said Mike Bradley, Teradyne's President and CEO. "We're responding to this by lowering our shipment plan and reducing our costs in the fourth quarter. At the same time, we're maintaining our investments in new products and customer support. Our guidance for the fourth quarter is for sales to be between $360 and $380 million, with earnings per share of between break-even and four cents."
Teradyne will be conducting its conference call today, October 20, 2004, at 10:00 a.m. E.D.T. The call will be webcast at www.teradyne.com (click on "Investors"). A replay will be available via phone starting at Noon E.D.T. and continuing through November 3, 2004. The replay may be accessed by calling 1-800-642-1687 in the US and Canada, or 706-645-9291 outside the US and Canada, and providing conference code 1164207, or by visiting www.teradyne.com and clicking on "Investors" for a link to the replay.