Teradyne Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Teradyne Inc. (TER) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $83.53 million, or $0.50 per share. This compares with $161.93 million, or $0.92 per share, in last year's first quarter.

Excluding items, Teradyne Inc. reported adjusted earnings of $91.3 million or $0.55 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.2% to $617.53 million from $755.37 million last year.

Teradyne Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $83.53 Mln. vs. $161.93 Mln. last year. -EPS (Q1): $0.50 vs. $0.92 last year. -Analyst Estimates: $0.43 -Revenue (Q1): $617.53 Mln vs. $755.37 Mln last year.

-Guidance: Next quarter EPS guidance: $0.55 - $0.74 Next quarter revenue guidance: $625 - $685 million