Teradyne says Asia's problems may be exaggerated
Wednesday January 28, 2:29 pm Eastern Time
SAN FRANCISCO, Jan 27 (Reuters) - Teradyne Inc (TER - news), which makes semiconductor automated test equipment and derives about 33 percent of its revenues from Asia, believes Asia's economic problems may be overstated.
''We have a strong feeling the concerns about Asia have been greatly exaggerated,'' Thomas Newman, vice president of corporate relations, said Wednesday.
Speaking at the NationsBanc Montgomery Securities Technology Conference here, Newman said Teradyne does see risks in its Japanese business but believes growth opportunities in some other Asian markets remain strong.
''It's bad to paint all of Asia with the same brush,'' Newman said. ''We are not at all worried about Singapore and Malaysia. In Taiwan, everything we are hearing says there is a lot of local funding and aggressive investment by businesses.
"In Japan, we do see the company struggling."
Newman said Japan is the only Asian market where Teradyne deals in local currency rather than dollars.
He projected Japanese bookings, which doubled in 1997 from 1996, would fall 10 to 15 percent in 1998.
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