Manufacturing Industry
Teradyne Lowers Guidance for Second-Quarter Sales
Electronic News, July 2, 2001
TERADYNE INC. JOINED A HOST OF OTHER COMPANIES THIS month when it lowered its guidance for sales for the second quarter to $350 million to $375 million, down from the previous estimation of $425 million to $450 million. This will translate into a loss of between 5 cents and 10 cents per share, according to Boston-based Teradyne (nyse: TER).
That figure doesn't include special charges totaling 15 cents to 20 cents per share. Business is down more than 50 percent from its peak in the third quarter of 2000, Teradyne said, and while it has cut its labor costs by 25 percent, including a 12 percent reduction in full-time staff, it isn't enough to remain profitable.
COPYRIGHT 2001 Reed Business Information, Inc. (US)
COPYRIGHT 2008 Gale, Cengage Learning
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