Teradyne Posts 26% Y/Y Revenue Growth

Posted on by jon95492

Teradyne reported Q4 2019 earnings after the market close.  The stock is trading 10 percent higher in the after-hours trading.

  • Revenue of $655 million in Q4’19, growth of 26% from Q4’18
  • Full-year 2019 revenue grew 9%, GAAP EPS 14%, Non-GAAP EPS 21%
  • Strong Semiconductor Test and LitePoint Wireless shipments drove Q4 revenue above the high end of guidance
  • Industrial Automation revenue growth of 5% in Q4, 14% in 2019
  • Quarterly dividend increased 11% to $0.10 beginning in Q1’20
  • Board authorized a $1 billion share repurchase program, expect to repurchase a minimum of $250 million in shares in 2020

Ter_Jan21_1

We delivered revenue and profits above plan in the fourth quarter on higher than expected memory and wireless test demand combined with continued 5G infrastructure test demand…Robots grew revenue 6% for the year and MiR grew 43% on a pro-forma basis. In Q4, we strengthened our IA portfolio with the addition of AutoGuide and their innovative autonomous mobile forklifts and tuggers to our line-up of easy to deploy, safe, and fast ROI automation products. – CEO and President Mark Jagiela

Guidance for the Q1 2020 is revenue of $670 million to $710 million, with GAAP net income of $0.75 to $0.85 per diluted share and non-GAAP net income of $0.86 to $0.96 per diluted share. Non-GAAP excludes acquired intangible asset amortization, non-cash convertible debt interest and includes the related tax impact on non-GAAP adjustments.