Boston, Massachusetts–Teradyne, Inc. reported sales of $789.2 million and net income of $117.7 million ($0.66 per share) for the fourth quarter (Q4) of 2000, excluding the impact of the adoption of Staff Accounting Bulletin (SAB) 101. Orders for Q4 of 2000 totaled $651.6 million.
“Teradyne had a terrific year in 2000,” says George Chamillard, Terdayne chairman and chief executive officer. “Sales broke $3 billion for the first time, with growth of 70%, mainly driven by growth of almost 100% in our connections systems business and of about 70% in our semiconductor test business. We had record net income of $518 million, and we improved our product positioning across the board. In Q4, we had sales of $789 million, our second highest quarter ever, and we earned $0.66 per share, in line with our guidance. As we begin 2001 in semiconductor test, the environment is much less favorable than was true at the beginning of 2000. There appears to be excess capacity in the industry, there are concerns about the economies of several countries that drive technology spending, and many of the end markets that have been driving the industry for the last 2 years are forecasted to grow less than in the past. It appears that these conditions will impact our semiconductor test business for the foreseeable future.”