Press release
Teradyne Reports Fourth Quarter and Fiscal Year 2021 Results
Revenue of $885 million in Q4’21, growth of 17% from Q4’20Full year 2021 revenue grew 19%, GAAP EPS grew 30%, Non-GAAP EPS grew 29% from 2020 Test Revenue
About this update from Teradyne, Inc.
[{"type":"text","content":"Revenue of $885 million in Q4’21, growth of 17% from Q4’20Full year 2021 revenue grew 19%, GAAP EPS grew 30%, Non-GAAP EPS grew 29% from 2020 Test Revenue grew 16% in Q4’21 from Q4’20, 17% in FY’21Universal Robots Revenue grew 22% in Q4’21 from Q4’20, 41% in FY’21MiR Revenue grew 46% in Q4’21 from Q4’20, 42% in FY’21 Quarterly dividend increased 10% to $0.11 Expect to repurchase a minimum of $750 million in shares in 2022 Q4'21Q4'20Q3'21FY 2021FY 2020Revenue (mil)$885$759 $951 $3,703$3,121GAAP EPS$1.29$1.05$1.41 $5.56$4.28Non-GAAP EPS$1.37$1.10$1.59 $5.98$4.62 NORTH READING, Mass., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Teradyne, Inc. (NASDAQ: TER) reported revenue of $885 million for the fourth quarter of 2021 of which $592 million was in Semiconductor Test, $127 million in System Test, $52 million in Wireless Test and $113 million in Industrial Automation (IA). GAAP net income for the fourth quarter was $230.3 million or $1.29 per diluted share. On a non-GAAP basis, Teradyne’s net income in the fourth quarter was $238.4 million, or $1.37 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, losses on convertible debt conversions, and included the related tax impact on non-GAAP adjustments. “Both our test and industrial automation businesses delivered another quarter of double-digit revenue growth compared with the year ago period,” said CEO and President Mark Jagiela. “2021 was a remarkable year for Teradyne as we increased annual sales by 19% and grew non-GAAP earnings per share by 29%, capping a five year stretch where revenue and earnings grew at an annual compounded rate of 16% and 32% respectively. Significantly, our Universal Robots and MiR businesses are seeing high demand which drove greater than 40% growth in 2021. “We enter 2022 with strong long-term test and automation demand trends in place and we’ve increased the mid-point of the revenue and non-GAAP earnings per share estimates in our 2024 earnings model to $4.9 billion and $8.00 respectively. However, in 2022, we expect a slower technology transition in one of our major end markets to result in lower System-on-a Chip test demand for Teradyne before accelerating again during the ramp of 3nm production in 2023. In Industrial Automation, we expect high growth to continue in 2022 on the strength of favorable global eco...