Teradyne Falls on Warning
Teradyne (TER) - Get Report was down 8.6% in early trading after the maker of semiconductor testing equipment warned late Tuesday it will post a loss in the second quarter loss of 5 to 10 cents a share, on revenue between $350 million and $375 million.
Analysts were expecting a loss of 1 cent, according to
Thomson Financial/First Call
.
The company previously estimated revenue would be between $425 million and $450 million.
The company blamed a lower-than-expected demand for its products and services, saying business was off more than 50% from its high in the third quarter of 2000.
Teradyne also said it cut an additional 180 jobs this week, bringing the total to about 1200 people, or 12% of its workforce.
Loading ...