Teradyne Posts 26% Y/Y Revenue Growth

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


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.