Teradyne meets expectations, but the book-to-bill appears to be only 0.62.
Teradyne Releases Second Quarter Results
PR Newswire, Tuesday, July 14, 1998 at 16:27
BOSTON, July 14 /PRNewswire/ -- Teradyne, Inc. (NYSE:TER) reported sales
of $406.2 million and net income of $39.4 million ($0.46 per share) for the
Second Quarter of 1998, reflecting a 57% increase in net income over the
Second Quarter of 1997. Orders for the Second Quarter of 1998 totaled $341
million. Net orders were $250 million after adjustments to backlog for
cancellations of prior period bookings.
Quarter Ended June 28, 1998 June 29, 1997
(In thousands, except per share amounts)
Sales $406,236 $289,541
Net income 39,360 25,002
Earnings per share (diluted):
Before nonrecurring charges $0.46 $0.33
After nonrecurring charges 0.46 0.29
Weighted average number of
shares and equivalents 85,632 86,283
Six Months Ended June 28, 1998 June 29, 1997
(In thousands, except per share amounts)
Sales $837,805 $537,843
Net income 89,001 42,162
Earnings per share(dilued):
Before nonrecurring charges $1.04 $0.53
After nonrecurring charges 1.04 0.49
Weighted average number of
shares and equivalents 85,780 86,047
Teradyne, Inc. Report For Second Fiscal Quarter of 1998
CONDENSED CONSOLIDATED INCOME STATEMENTS
(In thousands, except per share amounts)
Quarter Ended: Six Months Ended
6/28/98 6/29/97 6/28/98 6/29/97
Net Sales $406,236 $289,541 $837,805 $537,843
Cost of Sales 246,457 164,648 498,404 317,583
Engineering and Development 49,164 42,635 98,086 75,943
Selling and Administrative 57,549 47,449 116,262 88,232
Interest, Net (2,605) (4,669) (5,831) (9,793)
Net Expenses 350,565 250,063 706,921 471,965
Income Before Taxes 55,671 39,478 130,884 65,878
Net Income $39,360 $25,002 $89,001 $42,162
Net Income per Common Share - Diluted $0.46 $0.29 $1.04 $0.49
Shares used in calculation of Net Income
per Common Share - Diluted 85,632 86,283 85,780 86,047
Net Orders $249,800 $357,600 $590,300 $693,200
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)
6/28/98 12/31/97
Assets
Cash, Cash Equivalents and Marketable
Securities $90,478 $93,361
Accounts Receivable 354,963 300,933
Inventories 348,503 272,357
Other Current Assets 68,383 60,432
862,327 727,083
Net Property, Plant and Equipment 413,707 343,125
Long-term Marketable Securities 70,527 156,574
Other Assets 23,955 24,892
$1,370,516 $1,251,674
Liabilities
Current Liabilities $307,701 $277,973
Long-term Liabilities 36,475 36,570
Shareholders' Equity 1,026,340 937,131
$1,370,516 $1,251,674
For press releases and other information of interest to investors, please
visit Teradyne's homepage on the World Wide Web at teradyne.com.
SOURCE Teradyne, Inc.
-0- 07/14/98
/CONTACT: Tom Newman of Teradyne, 617-422-2425/
Companies or Securities discussed in this article:
Symbol
Name
NYSE:TER
Teradyne Inc |
