Teradyne: 1Q Earnings Snapshot

NORTH READING, Mass. (AP) _ Teradyne Inc. (TER) on Tuesday reported first-quarter net income of $176.2 million.

The North Reading, Massachusetts-based company said it had net income of 97 cents per share. Earnings, adjusted for one-time items, were $1 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The maker of wireless products, data storage and equipment to test semiconductors posted revenue of $704.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $665.5 million.

For the current quarter ending in July, Teradyne expects its per-share earnings to range from 86 cents to $1.16.

The company said it expects revenue in the range of $690 million to $800 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $555.2 million.

Teradyne shares have fallen 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $60.93, an increase of 36% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TER at https://www.zacks.com/ap/TER