UPDATE 1-Teradyne posts lower second-quarter profit

LOS ANGELES, July 23 (Reuters) - Teradyne Inc (TER.N: ), a maker of equipment used to test electronics, posted a sharply lower quarterly net profit on higher costs and a softening in orders for some products. The net income for the quarter ended June 29 was $11.1 million, or 6 cents per share, compared with net income of $27.7 million or 14 cents per share in last year's second quarter. Excluding restructuring and other costs, second quarter earnings were $28.1 million, or 16 cents per share. Sales rose 10 percent to $317.7 million from $288.7 million a year earlier. The company forecast third quarter sales of $290 million to $310 million, and earnings, excluding restructuring and other charges, of between 10 cents and 15 cents per share Shares of Teradyne dropped 11 percent, to $9.30 in after-hours trade after closing up 4.8... [read full story]