Teradyne Shares Soar After Third-Quarter Earnings Exceed Expectations - TheStreet

Teradyne (TER) - Get Report shares shot up 10% Wednesday after the semiconductor equipment company beat third-quarter earnings expectations.

The stock was up 8.5% to $64.19 at last check, after reaching as high as $65.44 early in the session.

The North Reading, Mass.-based company reported revenue of $582 million for the third quarter, up from $567 million a year earlier.  Net income for the third quarter was $135.9 million, or 75 cents a share, vs. $120 million, or 63 cents, a year ago. On a non-GAAP basis, Teradyne's net income in the third quarter was $133.4 million, or 77 cents a share, vs. $133.3 million, or 71 cents, a year ago. Analysts were expecting EPS of 70 cents for the latest quarter, according to FactSet.

Its guidance for the fourth quarter called for revenue of $590 million to $630 million, with GAAP net income of 63 cents to 74 cents per share and non-GAAP net income of 73 cents to 84 cents. Analysts are forecasting fourth-quarter EPS of 62 cents and revenue of $563.3 million, according to FactSet.

The company said non-GAAP guidance excludes acquired intangible asset amortization, non-cash convertible debt interest and includes the related tax impact on non-GAAP adjustments.

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