Please wait while we load the requested 10-K report or click the link below:
Teradyne Reports Record Fourth Quarter Orders, Fiscal Year 2016 Results,
and Increase in Quarterly Dividend
|||Q416 Orders up 66% from Q316, driven by strong mobility test demand|
|||Full year 2016 sales up 7%|
|||Universal Robots 2016 sales up 62% from calendar 2015 sales|
|||Quarterly dividend increased 17% to $0.07 beginning Q117|
|Q416||Q415||Q316||FY 2016||FY 2015|
NORTH READING, Mass. January 25, 2017 Teradyne, Inc. (NYSE: TER) reported revenue of $380 million for the fourth quarter of 2016 of which $271 million was in Semiconductor Test, $50 million in System Test, $34 million in Industrial Automation, and $26 million in Wireless Test. GAAP net income for the fourth quarter was $66.3 million or $0.33 per share. On a non-GAAP basis, Teradynes net income in the fourth quarter was $64.6 million, or $0.32 per diluted share, which excluded acquired intangible asset amortization, pension actuarial gains, restructuring and other charges, non-cash convertible debt interest, discrete income tax adjustments, and included the related tax impact on non-GAAP adjustments.
Orders in the fourth quarter of 2016 were $628 million of which $524 million were in Semiconductor Test, $47 million in System Test, $34 million in Industrial Automation, and $23 million in Wireless Test.
We closed 2016 with record fourth quarter orders as tester demand for 2017 mobile device production pulled bookings into Q4, automotive device test demand remained strong, and Universal Robots delivered another quarter of record orders, said CEO and President Mark Jagiela. For the full year, we grew company revenue 7%, non-GAAP earnings per share 19%, and returned $195 million to shareholders through share repurchases and dividends.
As we look into 2017, we expect continued steady demand in our core test businesses and greater than 50% growth to continue at Universal Robots. On the capital return front, our proven operating model, strong balance sheet and positive long term outlook support our plan to repurchase a minimum of $200 million of Teradyne shares in 2017 and increase the dividend to $0.07 per quarter.
Teradynes Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on March 20, 2017 to shareholders of record as of the close of business on February 24, 2017.
Guidance for the first quarter of 2017 is revenue of $420 million to $450 million, with GAAP net income of $0.28 to $0.34 per diluted share and non-GAAP net income of $0.33 to $0.40 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization, non-cash convertible debt interest and includes the related tax impact on non-GAAP adjustments.
A conference call to discuss the fourth quarter and full year results, along with managements business outlook, will follow at 10 a.m. ET, Thursday, January 26. 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 10 a.m. ET. A replay will be available on the Teradyne website at www.teradyne.com/investors.
The following information was filed by Teradyne, Inc (TER) on Thursday, January 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Teradyne, Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Teradyne, Inc.