Financial Performance - Total revenues for 2023 were $2,676,298, a decrease of 15.1% compared to $3,155,045 in 2022[290]. - Net income for 2023 was $448,752, down 37.3% from $715,501 in 2022[290]. - Gross profit for 2023 was $1,536,748, representing a gross margin of approximately 57.4%[290]. - The company reported a basic net income per share of $2.91 for 2023, down from $4.52 in 2022[290]. - Net income for the year ended December 31, 2023, was $706,514,000, a decrease of 6.5% compared to $715,501,000 in 2022[300]. - Cash dividends paid in 2023 were $67,878,000, slightly lower than $69,711,000 in 2022[300]. - The company repurchased common stock worth $397,241,000 in 2023, compared to $752,082,000 in 2022, indicating a significant reduction in buyback activity[300]. - Cash flows from operating activities for 2023 were $585,231,000, an increase from $577,923,000 in 2022[300]. Assets and Liabilities - Total current assets decreased to $2,162,035 in 2023 from $2,257,915 in 2022, a decline of 4.2%[290]. - Total liabilities decreased to $960,927 in 2023 from $1,049,958 in 2022, a reduction of 8.5%[290]. - Cash and cash equivalents decreased to $757,571 in 2023 from $854,773 in 2022, a decline of 11.4%[290]. - Total shareholders' equity increased to $2,525,897 in 2023 from $2,451,294 in 2022, an increase of 3.0%[290]. - As of December 31, 2023, Teradyne's total deferred revenue and customer advances amounted to $137.1 million, a decrease of 29.1% from $193.4 million in 2022[313]. - The balance of maintenance, service, and training deferred revenue was $66.5 million in 2023, down from $78.1 million in 2022, reflecting a decline of 15%[313]. - The balance of extended warranty deferred revenue decreased to $34.9 million in 2023 from $56.2 million in 2022, a decline of 37.9%[314]. - Inventories, net as of December 31, 2023, totaled $309.9 million, a decrease from $325.0 million in 2022[357]. Shareholder Activities - The company repurchased a total of 549,000 shares during the period from October 2, 2023, to December 31, 2023, at an average price of $93.70 per share[171]. - The maximum number of shares that may yet be purchased under the plans or programs is approximately 1,599,497 shares, with a total dollar value of $1,599,497,000[171]. Revenue Recognition and Accounting Policies - Teradyne's hardware revenue is typically recognized at a point in time upon transfer of control to the customer, aligning with the company's revenue recognition policy[310]. - Teradyne recognizes revenue for extended warranties on a straight-line basis over the contract period, with related costs expensed as incurred[314]. - For the year ended December 31, 2023, Teradyne's revenue from point-in-time recognition was $2,259.3 million, while revenue recognized over time was $416.9 million[352]. Foreign Currency and Hedging - The company utilizes foreign currency forward contracts to hedge against exchange rate fluctuations, with maturities of approximately one month[263]. - A hypothetical 10% fluctuation in foreign exchange rates would not have a material effect on the company's consolidated financial position as of December 31, 2023[266]. - Teradyne's foreign currency forward contracts are used to hedge risks associated with foreign currency exchange rate fluctuations, with maturities of less than six months[377]. - The company evaluates cash flow hedges for effectiveness quarterly, ensuring that the critical terms match method remains appropriate[377]. Pension and Employee Benefits - The accumulated benefit obligation for U.S. defined benefit pension plans was $142.2 million, an increase from $140.6 million in 2022[435]. - The funded status of the U.S. pension plans was a deficit of $31.570 million as of December 31, 2023, compared to a deficit of $32.054 million in 2022[435]. - The net periodic pension cost for 2023 was $2.566 million for U.S. plans and $4.198 million for foreign plans, compared to a net income of $7.623 million in 2022[437]. - The total net periodic postretirement benefit cost for 2023 was $2,992 thousand, a significant increase from a cost of $(923) thousand in 2022[452]. Acquisitions and Divestitures - The company entered into a call option to buy 481.0 million Euros in connection with the acquisition of a 10% investment in Technoprobe S.p.A, expiring on April 26, 2024[265]. - Teradyne entered into an agreement to sell its Device Interface Solutions business for $85.0 million in cash, with the transaction expected to close in the first half of 2024[355]. - The company has recorded a total of $3.1 million in acquisition and divestiture expenses related to the Technoprobe transaction in 2023[428]. Goodwill and Intangible Assets - The goodwill balance as of December 31, 2023, was $1,178,218 thousand, with no impairment identified during the annual test[410]. - Teradyne's total intangible assets included developed technology valued at $267.7 million, customer relationships at $52.1 million, and tradenames and trademarks at $59.0 million as of December 31, 2023[412]. - Total intangible assets as of December 31, 2023, amounted to $378.8 million, a decrease from $388.1 million in 2022, reflecting a net carrying amount reduction of approximately 2%[412]. Other Comprehensive Income and Loss - The total accumulated other comprehensive loss as of December 31, 2023, was $26,978 thousand, reflecting significant losses in foreign currency translation and cash flow hedges[404]. - The total recognized in other comprehensive income (loss) for 2023 was $(1,714) thousand, slightly improved from $(1,720) thousand in 2022[451].

Teradyne (TER) reported fourth-quarter 2023 earnings of 79 cents per share, which surpassed the Zacks Consensus Estimate by 9.72% but declined 14.1% year over year.Revenues of $671 million lagged the Zacks Consensus Estimate by 0.85% and declined 8.3% year over year.Quarter DetailsRevenues from Semiconductor Test platforms, System Test business, Wireless Test business and Robotics were $431 million (64.2% of total revenues), $86 million (12.8%), $25 million (3.7%) and $129 million (19.2%), respectively.Robo ...

Teradyne, Inc. (NASDAQ:TER) Q4 2023 Earnings Conference Call January 31, 2024 8:30 AM ET Company Participants Andy Blanchard - Vice President, Corporate Communications Greg Smith - Chief Executive Officer Sanjay Mehta - Chief Financial Officer Conference Call Participants Mehdi Hosseini - SIG Timothy Arcuri - UBS C.J. Muse - Cantor Fitzgerald Vivek Arya - Bank of America Securities Krish Sankar - TD Cowen Brian Chin - Stifel Samik Chatterjee - JPMorgan Toshiya Hari - Goldman Sachs Operator Greetings. Welcom ...

Shares of Teradyne declined in post-market trading on Tuesday after it warned of weaker demand for some systems and forecast another drop in revenue. The stock TER, -1.40% was down 7.3% to $97.00 in after-hours trading, and lost 1.4% to fall to $104.59 at the close. Shares are down 2.8% in the past year. The automatic testing-equipment maker said it expects first-quarter revenue of $540 million to $590 million, a fall of about 4.5% to 12.5% from the same period a year earlier. Analysts polled by FactSet ...

Teradyne (TER) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.72%. A quarter ago, it was expected that this maker of wireless products, data storage and equipment to test semiconductors would post earnings of $0.72 per share when it actually produced earnings of $0.80, delivering a ...

Wall Street analysts forecast that Teradyne (TER) will report quarterly earnings of $0.72 per share in its upcoming release, pointing to a year-over-year decline of 21.7%. It is anticipated that revenues will amount to $676.37 million, exhibiting a decline of 7.6% compared to the year-ago quarter.Over the last 30 days, there has been an upward revision of 1.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of thei ...

Sure. So yeah, I'm -- I think we're both sort of working off of the same source data when it comes to like reading the tea leaves about this large customer. We don't really know what their product plans are. The things that we are watching for are how quickly 3-nanometer goes into their high-performance computing process -- products that the more of that product line that's on 3-nanometer, the more complexity there will be, and that's a tailwind towards loading. The next is what's the relationship between - ...

Andy Blanchard - Vice President of Corporate Relations Conference Call Participants Vivek Arya - Bank of America Toshiya Hari - Goldman Sachs Greetings and welcome to the Teradyne Second Quarter 2023 Earnings Call and Webcast. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. Thank you, operator. And good morning, everyone, and welcome to our discussion o ...

Company Participants Greg Smith - President and Chief Executive Officer Conference Call Participants Timothy Arcuri - UBS Samik Chatterjee - JPMorgan Krish Sankar - TD Cowen Brian Chin - Stifel Steve Barger - KeyBanc Operator It is now my pleasure to introduce your host Andy Blanchard, VP, Corporate Communications. Thank you, sir. You may begin. Thank you, Latonya. Good morning, everyone, and welcome to our discussion of Teradyne's most recent financial results. I'm joined this morning by our CEO, Greg Smit ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-06462 TERADYNE, INC. (Exact Name of Registrant as Specified in ...