Teradyne Announces Second Quarter, 2008 Results

Teradyne, Inc. reported sales of $318 million in the second quarter of 2008. Net income for the second quarter was $28.1 million, or $0.16 per diluted share, on a non-GAAP basis, and $11.1 million or $0.06 per diluted share on a GAAP basis. Bookings for the second quarter were $308 million. "Our System-On-a-Chip (SOC) test business further strengthened in the second quarter, driven by record first-half demand in wireless test applications, however we saw a softening in memory test capacity-driven orders,” said Mike Bradley Teradyne president and CEO. "Overall, our roll-out of new SOC test products is on track for the year." Guidance for the third quarter of 2008 is for sales of $290 million to $310 million, with earnings per diluted share between $0.10 and $0.15 on a non-GAAP basis. Non-GAAP guidance excludes restructuring... [read full story]