Teradyne Announces Fourth Quarter Results
Business/Technology Editors
BOSTON--(BUSINESS WIRE)--Jan. 15, 2002--Teradyne, Inc. (NYSE: TER) reported sales of $220.2 million for the fourth quarter of 2001, and a net loss of $75.6 million, or $0.42 per share, excluding special charges. Including special charges, the net loss was $112.6 million ($0.63 per share). Gross bookings for the quarter were $212 million, and net bookings after cancellations totaled $127 million.
Teradyne Chairman George Chamillard stated that while Teradyne's fourth quarter results were in line with earlier guidance, 2001 was sobering, and that the challenges faced by Teradyne are likely to continue. He noted that "in view of the mixed messages we are receiving from the market place, we don't see an imminent upturn." Chamillard stated that in the face of this situation, Teradyne anticipates that revenue and earnings for the first quarter of 2002 will be between $200 million and $250 million and losses will be in the range of $0.40 to $0.50 per share, excluding special charges.
"Our focus in recent months", said Chamillard, " has been on cost control, cash management and positioning our businesses for the upturn. We will continue to focus on those areas. We will also continue to lower our time to market and our costs to produce the new products that we believe our customers will demand."
Teradyne will be conducting its conference call tomorrow, January 16, 2002, at 8:00 a.m. EST. The call will be webcast at www.teradyne.com
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