Teradyne Drops In Pre-Market On Quarterly Results

is dropping during pre-m,arket trading on Thursday following the release of quarterly results that failed to meet analysts' expectations. At 9:09 am ET the stock is trading at $9.34 down $1.16 from Wednesday's close. With the decline, the stock will open below recent support and at its lowest level in six months. The company reported net income for the quarter of $11.1 million, or $0.06 per share, lower than $27.7 million, or $0.14 per share, in the same quarter last year. On a non-GAAP basis, net income was $28.1 million, or $0.16 per share, compared to $28.2 million, or $0.15 per share, in the previous year quarter. On average, 12 analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.17 per share. Quarterly net revenues rose to $317.7 million from $288.7 million in the corresponding... [read full story]