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
                     

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NORTH READING, Mass., Jan. 24, 2018 (GLOBE NEWSWIRE) -- 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."

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