Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (139520)	7/18/2001 12:28:41 AM
From: Dan3	Respond to of 186894

Teradyne posts Q2 loss, warns of tough conditions 7/17/01 8:01 PM ET BOSTON, July 17 (Reuters) - Teradyne Inc. (TER.N), the No.1 semiconductor test equipment maker, on Tuesday reported its first loss in a decade -- a loss wider than the company expected as it warned business conditions might not improve until late next year. After the market closed, Boston-based Teradyne said it recorded a second-quarter loss of $20.5 million, or 12 cents a share, before special items. The loss was 2 cents higher than the high end of the reduced expectations it gave last month. Teradyne had expected to lose 5 cents to 10 cents a hare, not including special charges. In the year-ago period, Teradyne earned $128.9 million, or 71 cents a diluted share. "Based on conversations with a broad cross section of our customers, we see no upturn in the near future," Teradyne Chairman George Chamillard said in a statement. "Indications are that most semiconductor customers may not need to increase their test capacity until well into 2002." Teradyne's second-quarter sales plummeted to $365.8 million from the $747.5 million posted in the year-ago period. Chamillard said as the second quarter progressed the company's business environment continued to deteriorate. "The loss -- our first in over 10 years, since the first quarter of 1991 -- is an indication of just how dramatic and severe this downturn has been to date," Chamillard said in a statement. The semiconductor industry is reeling from a slowing economy, slumping PC and electronics sales and brutal price competition between Intel Corp. (INTC.O) and Advanced Micro Devices Inc. (AMD.N). Intel, the world's No. 1 microchip maker, on Tuesday said second-quarter profits tumbled 76 percent. Teradyne's business is down more than 50 percent from the peak it enjoyed during the third quarter of 2000. Teradyne shares closed at $32.79 Tuesday on the New York Stock Exchange. The stock is off 12 percent this year, underperforming the relatively flat performance of the Philadelphia semiconductor index. tscquote.thestreet.com