Teradyne, Inc. (NASDAQ: TER) announced revenue of USD 759 Million for the fourth quarter, USD 524 Million consisted of the Semiconductor Test, USD 104 Million in System Test, USD 92 Million in Industrial Automation (AI) and USD 40 Million in Wireless Test. Net income for the fourth quarter was USD 193.2 Million or USD 1.10 per diluted share. “Stronger than expected growth at Universal Robots drove Q4 sales and profits above guidance and capped an extraordinary year for Teradyne,” said CEO and President Mark Jagiela. “For the full year, company sales grew 36% and non-GAAP earnings per share 62%, the seventh consecutive year of earnings growth. The annual results were driven by increased revenue in all our test businesses, highlighted by Semiconductor Test’s 46% and System Test’s 43% growth. While the global slowdown in industrial activity compressed the automation market for much of 2020, we are encouraged by the improving global industrial outlook and the sooner-than-expected return to year-over-year growth at Universal Robots.
“After an exceptionally strong Q4, we enter 2021 expecting record Q1 level sales and profits driven by continued strong test demand, including a notable recovery in automotive related semiconductor test shipments.”
The company’s Board of Directors have declared a quarterly cash dividend of USD 0.10 per share that is payable on March 19th, 2021. They have also authorized a USD 2 Billion share repurchase program as Teradyne expects to repurchase a minimum of USD 600 Million of its common stock in 2021.
For the first quarter of 2021, the company expects revenue to range from USD 720 Million and USD 780 Million, with GAAP net income to reach USD 0.86 to USD 1.00 per diluted share.