ML expects upside suprise,backlog $1.65 B
Price FY00E FY99 First Call CY00E CY01E
7/5/00 Q3 EPS Q3 EPS Consensus P/E P/E
$73.13 $0.75 $0.20 $0.74 24.0 18.5
Teradyne is the leading global manufacturer of
automatic test equipment (ATE) serving the electronics
industry. Semiconductor test equipment represents roughly
65% of sales. Teradyne holds 25% worldwide market share.
Teradyne is the only company with a dominant (top 1 or 2)
position in all three semiconductor test segments; Logic,
Memory, Mixed-Signal. Teradyne is also a leading
manufacturer of backlplanes, high performance connectors
for electronic systems, printed circuit boards and software
test products.
Expected Reporting Date: July 18, 2000 after the close.
• We expect the company to exceed our earnings
projections of $0.75. There is potential upside of
$0.05.
• We expect the company to highlight its continued
dominance of the mix-signal test area.
• The hotly debated quarterly bookings will be the key.
We are projecting new orders at $1,050 million, up
slightly from last quarters $1,024 million. Backlog
likely in the $1,650 million range versus $1,356
million last quarter. |
