Exhibit 99.1

Teradyne Reports Fourth Quarter and Fiscal Year 2018 Results

 

 

   

Revenue of $520 million in Q4’18, organic growth of 5% from Q4’17

 

   

Record full year memory and analog test shipments

 

   

Record 60% quarterly and 58% full year gross margin

 

   

Expect to repurchase $500 million in shares in 2019

 

   

Quarterly dividend of $0.09 declared

 

     Q4’18      Q4’17      Q3’18      FY 2018      FY 2017  

Revenue (mil)

   $ 520      $ 479      $ 567      $ 2,101      $ 2,137  

GAAP EPS

   $ 0.79      ($ 0.54    $ 0.63      $ 2.35      $ 1.28  

Non-GAAP EPS

   $ 0.63      $ 0.46      $ 0.71      $ 2.37      $ 2.34  

==========================================

NORTH READING, Mass. – January 23, 2019 – Teradyne, Inc. (NASDAQ: TER) reported revenue of $520 million for the fourth quarter of 2018 of which $342 million was in Semiconductor Test, $84 million in Industrial Automation (IA), $54 million in System Test, and $40 million in Wireless Test. GAAP net income for the fourth quarter was $143.8 million or $0.79 per share. On a

non-GAAP basis, Teradyne’s net income in the fourth quarter was $113.0 million, or $0.63 per diluted share, which excluded restructuring and other charges, acquired intangible asset amortization, pension actuarial gains, non-cash convertible debt interest, discrete income tax adjustments, and included the related tax impact on non-GAAP adjustments.

“We finished 2018 with strong fourth quarter sales above the high end of our guidance driven by upside demand in our Semiconductor and Wireless test businesses,” said CEO and President Mark Jagiela. “For the full year, our Semiconductor Test group delivered record memory and analog revenues which lessened the impact of lower mobility test shipments. Gross margin for the year was at a record level due mainly to continued Universal Robots manufacturing cost reductions and a favorable product mix overall. In IA, Universal Robots full year growth of 38%, while strong, was below our target due mainly to slowing demand in China and the automotive sector. MiR sales for the year more than doubled on a pro-forma basis.”

As part of the $1.5 billion authorization established in January 2018, Teradyne purchased $823 million of its common shares in 2018 and expects to repurchase $500 million of its common shares in 2019.

Teradyne’s Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on March 22, 2019 to shareholders of record as of the close of business on February 22, 2019.

Guidance for the first quarter of 2019 is revenue of $460 million to $490 million, with GAAP net income of $0.31 to $0.39 per diluted share and non-GAAP net income of $0.39 to $0.47 per diluted share. Non-GAAP guidance excludes acquired intangible


The following information was filed by Teradyne, Inc (TER) on Thursday, January 24, 2019 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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