Press release
Teradyne Reports Second Quarter 2022 Results
Revenue and earnings above the mid-point of Q2 guidanceSystem Test, Wireless Test and Industrial Automation revenues grew compared with Q2’21 while
About this update from Teradyne, Inc.
[{"type":"text","content":"Revenue and earnings above the mid-point of Q2 guidanceSystem Test, Wireless Test and Industrial Automation revenues grew compared with Q2’21 while Semiconductor Test declined consistent with guidanceAutomotive and memory test demand strong while mobility and compute related demand softeningIndustrial Automation growth slowing Q2'22Q2'21Q1'22Revenue (mil)$841 $1,086 $755 GAAP EPS$1.16 $1.76 $0.92 Non-GAAP EPS$1.21 $1.91 $0.98 Gross Margin60.2% 59.6% 60.2% NORTH READING, Mass., July 26, 2022 (GLOBE NEWSWIRE) -- Teradyne, Inc. (NASDAQ: TER) reported revenue of $841 million for the second quarter of 2022 of which $541 million was in Semiconductor Test, $135 million in System Test, $64 million in Wireless Test and $101 million in Industrial Automation (IA). GAAP net income for the second quarter was $197.8 million or $1.16 per diluted share. On a non-GAAP basis, Teradyne’s net income in the second quarter was $204.0 million, or $1.21 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and included the related tax impact on non-GAAP adjustments. “We delivered sales and earnings above the mid-point of our second quarter guidance on strong test group shipments despite supply shortages and slowing industrial automation growth,” said Teradyne CEO Mark Jagiela. “As we enter Q3, we’re lowering our shipment plan to align with reduced mobility related test demand, slower industrial automation growth, and continued supply shortages.” Guidance for the third quarter of 2022 is revenue of $760 million to $840 million, with GAAP net income of $0.86 to $1.12 per diluted share and non-GAAP net income of $0.90 to $1.16 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization. Webcast A conference call to discuss the second quarter results, along with management's business outlook, will follow at 8:30 a.m. ET, Wednesday, July 27. Interested investors should access the webcast at www.teradyne.com and click on \"Investors\" at least five minutes before the call begins. Presentation materials will be available starting at 8:30 a.m. ET. A replay will be available on the Teradyne website at https://investors.teradyne.com/events-presentations. Non-GAAP ResultsIn addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP resul...