Exhibit 99.1

Teradyne Reports Fourth Quarter and Fiscal Year 2017 Results, Increases Capital Return Program

 

    Full year 2017 sales up 22% from 2016

 

    Universal Robots 2017 sales up 72% from 2016

 

    Quarterly dividend increased 29% to $0.09 beginning Q1’18

 

    Expect to repurchase $750 million in shares in 2018 as part of a new $1.5 billion share repurchase program

 

 

     Q4’17     Q4’16      Q3’17      FY 2017      FY 2016  

Orders (mil)

   $ 560     $ 628      $ 410      $ 2,026      $ 1,867  

Revenue (mil)

   $ 479     $ 380      $ 503      $ 2,137      $ 1,753  

GAAP EPS

   ($ 0.54   $ 0.33      $ 0.52      $ 1.28        ($0.21

Non-GAAP EPS

   $ 0.46     $ 0.32      $ 0.54      $ 2.34      $ 1.51  

NORTH READING, Mass. – January 24, 2018 –

Teradyne, Inc. (NYSE: TER) reported revenue of $479 million for the fourth quarter of 2017 of which $317 million was in Semiconductor Test, $80 million in System Test, $54 million in Industrial Automation, and $28 million in Wireless Test. GAAP net loss for the fourth quarter was ($105.9) million or ($0.54) per share. GAAP results include a $184 million discrete tax charge related to the impact of U.S. tax policy changes1. On a non-GAAP basis, Teradyne’s net income in the fourth quarter was $91.4 million, or $0.46 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 2017 were $560 million of which $410 million were in Semiconductor Test, $69 million in System Test, $56 million in Industrial Automation, and $24 million in Wireless Test.

“The fourth quarter capped off a great 2017 at Teradyne. In Q4, Semi Test sales were up 17% compared to Q4 of 2016 and up 22% for the full year,” said CEO and President Mark Jagiela. “Universal Robots Q4 sales grew 61% from Q4’16 and 72% for the full year driven by increased awareness of the economic advantages of our cobots for an expanded range of applications. Overall, the total company grew 22% in sales and 55% in non-GAAP EPS in 2017.”

“Turning to 2018, at the mid-point of our Q1 revenue guidance, we see 4% growth over Q1 of 2017. Our view of the 2018 Semi Test market outlook has also strengthened slightly since our October estimate. We expect the annual tooling cycle around mobility, and the corresponding revenue, to be shifted about 4 weeks later in 2018. On the capital allocation front, the combination of a strong business outlook and U.S. tax reform support our plan to raise our quarterly dividend by 29% to $0.09 cents per share and initiate a $1.5 billion share repurchase program with expected repurchases of $750 million in 2018.”


The following information was filed by Teradyne, Inc (TER) on Thursday, January 25, 2018 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.

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