Press release
Teradyne Reports Fourth Quarter and Fiscal Year 2022 Results
Revenue of $732 million in Q4’22, down 17% from record Q4’21Revenue of $3,155 million in FY 2022, down 15% from record FY 2021 Test Revenue contracted 17% in
About this update from Teradyne, Inc.
[{"type":"text","content":"Revenue of $732 million in Q4’22, down 17% from record Q4’21Revenue of $3,155 million in FY 2022, down 15% from record FY 2021 Test Revenue contracted 17% in FY 2022Industrial Automation revenue grew 7% in dollar terms in FY2022, 15% in constant currency. Expect to repurchase up to $500 million in shares in 2023 Q4'22Q4'21Q3'22FY 2022FY 2021Revenue (mil)$732$885$827$3,155$3,703GAAP EPS$1.04$1.26$1.10$4.22$5.53Non-GAAP EPS$0.92$1.37$1.15$4.25$5.98 NORTH READING, Mass., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Teradyne, Inc. (NASDAQ: TER) reported revenue of $732 million for the fourth quarter of 2022 of which $481 million was in Semiconductor Test, $100 million in System Test, $40 million in Wireless Test and $110 million in Industrial Automation (IA). GAAP net income for the fourth quarter was $172.3 million or $1.04 per diluted share. On a non-GAAP basis, Teradyne’s net income in the fourth quarter was $150.8 million, or $0.92 per diluted share, which excluded pension actuarial gains, acquired intangible asset amortization, restructuring and other charges, and included the related tax impact on non-GAAP adjustments. “We delivered better than expected results in the fourth quarter on higher revenue and gross margins and lower expenses than planned,” said Teradyne CEO Mark Jagiela. “Increased shipments of our Eagle products serving the automotive and industrial chip markets combined with stronger demand for UR cobots in the quarter drove the improved results.” Teradyne President Greg Smith added, “Balancing those positive Q4 results, we expect a step down in demand in our Semiconductor and Storage Test markets which will persist at least through the first half of the year as device manufacturers adjust their production to rebalance supply, demand, and inventory levels. This near-term slow-down is consistent with past industry cycles and we believe the long-term drivers of test demand remain firmly in place supported by expanding applications for complex semiconductor devices in compute, mobility, automotive and across the global economy.” Teradyne’s Board of Directors declared a quarterly cash dividend of $0.11 per share, payable on March 17, 2023 to shareholders of record as of the close of business on February 17, 2023. The Board also authorized a $2 billion share repurchase program and the company expects to repurchase up to $500 mil...