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Updated from 10:51 a.m. EDT
Teradyne (TER Quote) cut its guidance for the first quarter late Monday, saying that the continued deterioration in the semiconductor equipment market has forced the company to further reduce costs.
The North Reading, Mass., automated test equipment maker said it now expects to post a first-quarter loss, excluding items, of 40 cents to 42 cents a share on sales of $115 million to $120 million. Teradyne also said that sales in the second quarter will be "about flat with the first quarter."
In its fourth-quarter report released in January, Teradyne forecast a loss of 28 cents to 31 cents a share, excluding special items, on revenue of $125 million to $145 million. ...
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