This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Teradyne's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Michael A. Bradley

Good morning, everyone. Thanks for being with us again today. As you can see, we're off to a very strong start in 2012, with nearly $400 million in first quarter revenues and a projection for $100 million or more in revenue growth in Q2.

This will be the second quarter in a row of adding about $100 million to the top line, and represents just over 70% growth off the Q4 2011 trough. And with it, we'll post our best first half totals in nearly a decade.

Obviously, a piece of this momentum comes from the SOC sector, which is rebounding from last year's second half pullback. This market recovery will lift all boats to some degree. But I want to emphasize the 2 or 3 main stories behind these growth numbers that we are seeing, which are unique to us.

First, our focus on the complex SOC chips within the wave of new mobility products is producing unprecedented demand for our UltraFLEX system. The chip coverage we have in the latest smartphones and tablets have fueled a sharp increase in demand for testers that cover baseband processors, wireless connectivity chips and power management ICs.

Just about 90% of our SOC bookings increase in Q1 was accounted for by this upsurge in UltraFLEX demand.

Second, our storage test product line will post first half revenue numbers nearly equal to the second half of last year, which was itself a half-year record. So the market acceptance of our 2.5-inch drive test product remains broad and strong.

And third, we'll have very good growth from LitePoint as they outpace the market in end product wireless test.

In addition, we'll continue to get steady top and bottom line performance from our defense, our board test and our memory test units.

Obviously, back-to-back quarters like we're seeing will stir questions about both the near and long-term sustainability of what we're seeing.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs