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QUOTE AND NEWS
Business Wire
May 10
Comment
Teradyne, Inc. (NYSE:TER) announced that it has entered into an OEM agreement with Corelis, Inc. to sell and distribute a package of Corelis ScanExpress boundary-scan test execution and diagnostic software and hardware modules. The solution
Market Intelligence Center
May 7
Comment
Teradyne Inc. (NYSE: TER) closed Friday's trading session at $16.13. In the past year, the stock has hit a 52-week low of $10.37 and 52-week high of $18.01. Teradyne (TER) stock has been showing support around $15.60 and resistance in the $16.78...
MarketWatch
Apr 25
Comment
Teradyne Inc. said late Wednesday that its first-quarter profit fell to $33.6 million, or 15 cents a share, from $96.8 million, or 42 cents a share, in the year-ago period. Excluding one-time items, the chip-testing equipment maker would have...
Business Wire
Apr 25
Comment
Teradyne, Inc. (NYSE: TER) reported revenue of $397 million for the first quarter of 2012 of which $268 million was in Semiconductor Test, $98 million in Systems Test Group and $31 million in LitePoint Wireless Test. On a non-GAAP basis, Teradyne’s
Forbes
Apr 20
Comment
Despite an expected dip in profit, analysts are generally optimistic about Teradyne (TER) as it prepares to reports its first quarter earnings on Wednesday, April 25, 2012.
Market Intelligence Center
Apr 19
Comment
Teradyne (NYSE:TER) closed Wednesday's losing trading session at $16.74. In the past year, the stock has hit a 52-week low of $10.37 and 52-week high of $18.42. Teradyne (TER) stock has been showing support around $16.45 and resistance in the...
Business Wire
Apr 18
Comment
Teradyne (NYSE:TER) will exhibit its industry leading in-circuit test technologies at NEPCON 2012 on April 25-27 at the Shanghai World Expo Exhibition & Convention Center. Teradyne will be showcasing the TestStation™ LH in-circuit test system and
Business Wire
Apr 13
Comment
Teradyne, Inc. (NYSE: TER) will release financial results for the first quarter 2012 on Wednesday, April 25 at 6:00 p.m. Eastern Daylight Time (EDT) or later. A conference call to discuss the first quarter results, along with management's business
Market Intelligence Center
Apr 13
Comment
Teradyne (NYSE:TER) closed Thursday's positive trading session at $16.78. In the past year, the stock has hit a 52-week low of $10.37 and 52-week high of $18.42. Teradyne (TER) stock has been showing support around $15.88 and resistance in the...
Benzinga
Apr 12
Comment
Stifel Nicolaus increases its price target from $20 to $21 on Teradyne (NYSE: TER) as it reiterates Buy on channel checks. Shares have seen recent pullback.
Stifel Nicolaus comments, "Some of our recent end-of-quarter channel checks suggest a...
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more ▼WIKI ANALYSIS
WIKI ANALYSISTOP CONTRIBUTORS
Teradyne (NYSE: TER)
Company Overview
Business and Financial Metrics
TER Net Revenue, Gross Margin, and Net Income[1]
TER Net Revenue by Region[2]
Teradyne has consistently invested in engineering and development over the past three years, spending 20.7%, 14.9%, and 18.6% of total revenue in 2005, 2006, and 2007 respectively.[3]
| Engineering and Development Expenses (Million USD / % of Total Revenue)[4] | 2005 | 2006 | 2007 |
| Engineering and Development | $216.4 / 20.7% | $202.4 / 14.9% | $204.3 / 18.6% |
Teradyne's customers have the ability to cancel orders suddenly, subject to possible cancellation penalties. The company has faced many cancelled orders due to the highly unpredictable end markets in the semiconductor industry. Accurately predicting cancellations and minimizing backlog presents a challenge for Teradyne, which has reported significant backlog in 2005, 2006 and 2007.[5] Test equipment that is backlogged instead of sold still contributes to production costs, but does not generate any revenue, thus lowering net income.
| Teradyne Backlog by Segment (Million USD / % of Total Segment Bookings)[6] | 2005 | 2006 | 2007 |
| Semiconductor Test | $289.7 / 32.9% | $212.4 / 21.0% | $236.2 / 26.3% |
| Systems Test Group | $117.1 / 44.9% | $120.2 / 44.4% | $102.5 / 49.2% |
Teradyne does business around the world, with 77% of 2007 net revenue coming from outside the United States.[7]
| Net Revenue by Region (Million USD / % of Total Revenue)[8] | 2005 | 2006 | 2007 |
| United States | $229.9 / 22% | $311.9 / 23% | $253.5 / 23% |
| South East Asia | $250.8 / 24% | $325.5 / 24% | $242.5 / 22% |
| Europe | $156.8 / 15% | $189.9 / 14% | $132.3 / 12% |
| Taiwan | $135.9 / 13% | $189.9 / 14% | $143.3 / 13% |
| Japan | $94.1 / 9% | $162.7 / 12% | $132.3 / 12% |
| Singapore | $146.3 / 14% | $149.2 / 11% | $165.3 / 15% |
| Other International | $31.4 / 3% | $27.1 / 2% | $33.1 / 3% |
Business Segments
TER Net Revenue by Business Segment[9]
- Semiconductor Test (80% of Net Revenue) - Teradyne's core semiconductor test segment provides automatic test equipment used by semiconductor manufacturers to improve product quality, reduce time to market, increase production yields, and evaluate product performance.[10] The FLEX Test Platform performs multi-site tests, or tests of many devices and functions in parallel.[11] Semiconductor manufacturers use the multi-site capabilities of the FLEX Platform to improve "Cost of Test" economics, using one test to evaluate all of the necessary capabilities of their specific semiconductor technology.[12] The FLEX Test Platform also has an open architecture, so customizations can be made easily.[13] The FLEX Platform's versatility appeals to manufacturers of semiconductors that have very specific criteria, such as semiconductors in communications and automotive devices. The J750 test system is designed to test large quantities of the basic semiconductors, such as microcontrollers, that are central to most consumer electronics products.[14] Nextest Systems' (NYSE: NEXT), acquired in January 2008, core technology of flash memory semiconductor tests will also be incorporated into this segment.[15]
- Systems Test Group (20% of Net Revenue) - Teradyne's systems test group consists of three business units: Military/Aerospace Test, Commercial Board Test, and Diagnostic Solutions.[16] Teradyne makes equipment used both to test new electronics systems, such as tactical air to missle systems, as well as upgrades of existing systems in military and commercial aircraft.[17] The Commercial Board Test business unit consists of products that test and inspect the complex circuit boards used in cell phones, computers, servers, automobiles and avionics systems.[18] Increasing complexity of these boards leaves them more vulnerable to assembly error, so advanced testing and inspection hardware and software is necessary to ensure product quality. The Diagnostic Solutions business unit consists of equipment used to diagnose problems in automotive electronic systems, such as navigation and climate control systems.[19]
| Net Revenue by Segment (Million USD / % of Total Net Revenue)[20] | 2005 | 2006 | 2007 |
| Semiconductor Test | $814.2 / 77.9% | $1088.9 / 80.3% | $876.5 / 79.5% |
| Systems Test Group | $230.9 / 22.1% | $267.3 / 19.7% | $225.8 / 20.5% |
Key Trends and Forces
Competition
References
- ↑ TER 2007 10-k pg. 18
- ↑ TER 2007 10-k pg. 24
- ↑ TER 2007 10-k pg. 26
- ↑ TER 2007 10-k pg. 26
- ↑ TER 2007 10-k pg. 23
- ↑ TER 2007 10-k pg. 23
- ↑ TER 2007 10-k pg. 24
- ↑ TER 2007 10-k pg. 24
- ↑ TER 2007 10-k pg. 24
- ↑ TER 2007 10-k pg. 3
- ↑ TER 2007 10-k pg. 4
- ↑ TER 2007 10-k pg. 4
- ↑ TER 2007 10-k pg. 4
- ↑ TER 2007 10-k pg. 4
- ↑ TER 2007 10-k pg. 2
- ↑ TER 2007 10-k pg. 5
- ↑ TER 2007 10-k pg. 5
- ↑ TER 2007 10-k pg. 5
- ↑ TER 2007 10-k pg. 6
- ↑ TER 2007 10-k pg. 23
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