4:19PM Tektronix Q3 earns 11c (TEK) by Chris Kraeuter
Chip equipment maker Tektronix (TEK) reported third-quarter net income of $10.4 million, or 11 cents a share, on revenue of $203.6 million. During the same quarter last year, net income was $41 million, or 43 cents a share, on revenue of $326.9 million. Excluding non-recurring expenses, income was $12 million, or 13 cents a share. Analysts surveyed by Thomson Financial/First Call expected earnings of 10 cents a share, excluding the expenses, on revenue of $205.4 million, on average. According to a statement, CEO Rick Wills said pockets of improvement are expected through the year, but "significant, sustainable improvements in our markets" are not expected until the end of the year at the earliest. Shares ended Thursday down 26 cents to $24.61.
[Harry: I would think there is a delay between the time product demand picks up and new test equipment is needed. So, this still assumes a 2H pick up in demand????] |
