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Teradyne, Inc. is a leading global supplier of automated test equipment and robotics solutions, designing, developing, manufacturing, and selling products used across various industries such as consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense . The company offers a range of automated test systems and robotics products, including semiconductor test systems, storage and system level test systems, and collaborative robotic arms . Teradyne's revenue is geographically diverse, with a significant portion coming from the Asia Pacific region .
- Semiconductor Test Systems - Provides automated test systems for semiconductor devices, focusing on System-on-a-Chip and Memory tests.
- Robotics Products - Offers collaborative robotic arms and autonomous mobile robots, enhancing automation in various industries.
- Storage and System Level Test Systems - Develops test systems for storage devices and complete systems, ensuring reliability and performance.
- Defense/Aerospace Test Instrumentation and Systems - Supplies test solutions for defense and aerospace applications, supporting mission-critical operations.
- Circuit-Board Test and Inspection Systems - Manufactures systems for testing and inspecting circuit boards, ensuring quality and functionality.
- Wireless Test Systems - Delivers test solutions for wireless communication devices, supporting the development and deployment of wireless technologies.
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Given that your Robotics business has achieved only a 5% CAGR over the past five years, significantly below your forecasted 20–30% growth, what concrete actions are you taking to close this gap, and how confident are you in achieving these ambitious targets amid current market challenges?
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With the increased OpEx in your Semi Test business, is this elevated spending a new structural level due to competition and platform development, or is it a cyclical increase aimed at gaining market share, and how will this impact your long-term profitability?
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Considering the divergence in growth and strategic focus between your Semiconductor Test and Robotics divisions, have you evaluated the potential benefits of divesting or spinning off the Robotics business to unlock shareholder value and focus on core competencies?
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Given your limited exposure to the accelerated AI market and the escalating test times for next-generation AI chips like Blackwell, how do you plan to leverage System Level Test solutions to penetrate this market and enhance your competitive position?
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With the mobile SoC test TAM declining from $2 billion to $800 million due to factors like longer smartphone replacement cycles, what is your strategy to mitigate the impact of this contraction on your business, and how do you plan to drive growth in this segment going forward?
Competitors mentioned in the company's latest 10K filing.
- Advantest Corporation - Competitor in the Semiconductor Test and System Test segments .
- Cohu, Inc. - Competitor in the Semiconductor Test segment .
- Keysight Technologies, Inc. - Competitor in the System Test and Wireless Test segments .
- Test Research, Inc. - Competitor in the System Test segment .
- SPEA S.p.A. - Competitor in the System Test segment .
- Astronics Corporation - Competitor in the System Test segment .
- Rohde & Schwarz GmbH & Co. KG - Competitor in the Wireless Test segment .
- Anritsu Company - Competitor in the Wireless Test segment .
- National Instruments Corporation - Competitor in the Wireless Test segment .
- Welzek - Competitor in the Wireless Test segment .
- iTest - Competitor in the Wireless Test segment .
- KUKA Robotics Corporation - Competitor in the Robotics segment .
- ABB - Competitor in the Robotics segment .
- FANUC - Competitor in the Robotics segment .
- Staubli - Competitor in the Robotics segment .
- Yaskawa Electric Corporation - Competitor in the Robotics segment .
- Techman - Competitor in the Robotics segment with emerging collaborative robot offerings .
- Doosan - Competitor in the Robotics segment with emerging collaborative robot offerings .
- Jaka - Competitor in the Robotics segment with emerging collaborative robot offerings .
- AUBO Robotics - Competitor in the Robotics segment with emerging collaborative robot offerings .
- Omron - Competitor in the Robotics segment in the material handling space .
- Rockwell Automation - Competitor in the Robotics segment in the material handling space .
- Junion - Competitor in the Robotics segment in the material handling space .
- HikRobot - Competitor in the Robotics segment in the material handling space .
- Agilox - Competitor in the Robotics segment in the material handling space .
- KION - Competitor in the Robotics segment in the material handling space .
Recent developments and announcements about TER.
Financial Reporting
- Revenue: $753 million (up from $671 million in Q4 2023).
- GAAP Net Income: $146.3 million, or $0.90 per diluted share.
- Non-GAAP Net Income: $155.0 million, or $0.95 per diluted share.
- Semiconductor Test Revenue: $561 million.
- Robotics Revenue: $98 million.
- Full-Year Revenue: $2.82 billion in 2024, up from $2.68 billion in 2023.
- GAAP EPS for FY 2024: $3.32 (up from $2.73 in FY 2023).
- Non-GAAP EPS for FY 2024: $3.22 (up from $2.93 in FY 2023).
- AI Compute and Memory Demand: Continued strength in AI-related applications.
- Mobile and Auto/Industrial Segments: Performance exceeded expectations.
- Revenue Guidance: $660 million to $700 million.
- GAAP EPS Guidance: $0.48 to $0.59.
- Non-GAAP EPS Guidance: $0.58 to $0.68.
- Robotics Business Realignment: Teradyne plans to enhance customer experience and operational efficiency in its robotics segment, aiming to support long-term growth and profitability.
Earnings Report
Teradyne (TER) Fourth Quarter 2024 Earnings Results
Teradyne, Inc. (NASDAQ: TER) has released its financial results for the fourth quarter of 2024, reporting revenue of $753 million, which represents a 12% increase compared to Q4 2023. The company attributes this growth to strong AI-related demand and improved market dynamics. Below are the key highlights:
Financial Performance
Year-Over-Year Trends
Key Drivers
Outlook for Q1 2025
Strategic Initiatives
CEO Statement
Greg Smith, CEO of Teradyne, stated:
"Our Q4 results were toward the high end of our guidance range, driven by demand in our Semi Test business. In 2025, we expect year-over-year revenue acceleration with improving conditions in our test businesses."
Conference Call Details
A webcast to discuss the results and business outlook is scheduled for 8:30 a.m. ET on January 30, 2025. Interested parties can access the webcast on Teradyne's website.
For more details, visit Teradyne's Investor Relations page.
Corporate Leadership
Leadership Change
Ford Tamer is leaving Teradyne, Inc. as he has been appointed as the CEO of Lattice Semiconductor Corporation. His departure is not due to any disagreement with Teradyne's Board or management. He will serve until the 2025 Annual Meeting in May.
CEO Change
The CEO of Teradyne, Inc., Ford Tamer, has announced that he will not stand for re-election at the company's next annual meeting in May 2025. This decision is due to his recent appointment as the CEO of Lattice Semiconductor Corporation. He will continue to serve as CEO of Teradyne until the end of his term.