January 29, 2009, 11:55 am
Teradyne: Q4 Miss; Nasty Q1 Outlook; 14% Layoff
Posted by Eric Savitz
Teradyne (TER) late yesterday added to the grim atmosphere in the semiconductor equipment business, posting disappointing Q4 results and grim Q1 guidance. The company, which makes semiconductor test equipment, also said it will cut its staff by 14% in Q1 and temporarily implement a 10% pay cut. Teradyne has about 3,600 employees.
For the fourth quarter, Teradyne posted revenue of $195 million and a non-GAAP loss of 19 cents a share; the Street had been expecting $201 million and a loss of 13 cents.
For Q1, the company sees revenue of $125 million to $145 million, a sequential drop of 25.6% to 35.9%, and a drop of 51.2% to 58% from a year ago. The Street had been expecting $183.9 million. The company expects a non-GAAP loss for the quarter of 31-38 cents a share, worse than the Street consensus loss estimate of 15 cents a share.
TER today is down 28 cents, or 5.3%, to $4.97. |
