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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (39967)	6/19/2001 11:11:19 PM
From: Stoctrash	Respond to of 50167

..again, just the FACTS. ========== Tuesday June 19, 7:53 pm Eastern Time Teradyne sees Q2 loss, its first since 1991 (UPDATE: recasts, adds detail) NEW YORK, June 19 (Reuters) - Teradyne Inc. (NYSE:TER - news), the No. 1 supplier of testing equipment used in the manufacture of semiconductors, said on Tuesday that it has cut jobs and is bracing for its first loss since 1991 following a sharp drop in demand for microchips that has slammed chip equipment makers. The Boston-based company said it now expects a loss of 5 cents to 10 cents a share, a figure that includes a 5-cent gain from a sale of its military connections business but excludes special items that it expects will total 15 cents to 20 cents a share. Analysts on average had expected a loss of 1 cent a share, with estimates ranging from a loss of 5 cents to a profit of 2 cents, according to tracking firm Thomson Financial/First Call. Teradyne said it has cut 12 percent of its regular staff since the end of 2000, including 180 layoffs this week. The moves have cut its labor costs by about 25 percent, the company said in a statement. Revenues are now expected to be $350 million to $375 million for the quarter, compared to the company's previous expectations for revenues of between $425 million and $450 million. Business has deteriorated in every segment of its business, Teradyne said. ``Both our customers and Teradyne are facing an unprecedented level of uncertainty and this has led to a lower than expected demand for our products and services,'' Chief Executive George Chamillard said in the statement.