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Teradyne: 1Q Earnings Snapshot

NORTH READING, Mass. (AP) _ Teradyne Inc. (TER) on Tuesday reported first-quarter net income of $109.1 million.

On a per-share basis, the North Reading, Massachusetts-based company said it had profit of 62 cents. Earnings, adjusted for non-recurring gains, came to 54 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The maker of wireless products, data storage and equipment to test semiconductors posted revenue of $494.1 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $475.9 million.

For the current quarter ending in July, Teradyne expects its per-share earnings to range from 56 cents to 65 cents.

The company said it expects revenue in the range of $520 million to $550 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $537.8 million.

Teradyne shares have climbed 42 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.59, a climb of 10 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TER at https://www.zacks.com/ap/TER