WASHINGTON (dpa-AFX) - Teradyne, Inc. (TER) said, for the full year, at the mid-point of guidance, the company projects year-over-year sales to grow more than 7 percent to over $2.2 billion and non-GAAP earnings per share to grow 16 percent. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.51 on revenue of $2.15 billion. Analysts' estimates typically exclude special items.
Guidance for the fourth quarter is revenue of $590 million to $630 million, and non-GAAP net income of $0.73 to $0.84 per share. In the fourth quarter, the company's strong outlook is driven mainly by continued 5G and memory related Semiconductor Test demand and improved storage test shipments. Analysts expect the company to report profit per share of $0.61 on revenue of $536.27 million.
On a non-GAAP basis, Teradyne's earnings per share in the third quarter was $0.77 compared to $0.71, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70, for the quarter.
Third-quarter revenue increased to $582 million from $567 million, prior year. Analysts expected revenue of $565.72 million, for the quarter.
'Our Semiconductor Test business continued to deliver strong results in the quarter driving company sales and earnings above the July guidance ranges, despite Industrial Automation's lower than expected revenue growth of 4% compared to last year's third quarter level,' said Teradyne CEO Mark Jagiela.
Shares of Teradyne were up more than 6% after hours.
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