Teradyne, Inc. ( TER) Q4 2010 Earnings Conference Call January 27, 2011 10:00 AM ET Executives Andrew Blanchard – VP, IR Michael Bradley – CEO Gregory Beecher – CFO Analysts Krish Sankar – Bank of America Merrill Lynch Jim Covello – Goldman Sachs Atif Malik – Morgan Stanley Mehdi Hosseini – Susquehanna Financial Group Satya Kumar – Credit Suisse David Duley Steelhead Securities Mahavir Sanghavi – UBS Investment Bank Timothy Arcuri – Citigroup C.J. Muse – Barclays Capital Patrick Ho – Stifel Nicolaus Tom Diffely – D.A. Davidson PresentationOperator
Good morning. My name is Jaimie, and I will be your conference operator today. At this time, I would like to welcome everyone to Teradyne’s Q4 2010 earnings conference call. [Operator Instructions] I would now like to turn the conference call over to the Vice President of Investor Relations, Mr. Andrew Blanchard. Sir, you may begin your conference. Andrew Blanchard Thank you, Jaimie. Good morning, everyone, and welcome to our discussion of Teradyne’s most recent financial results. I’m joined this morning by our Chief Executive Officer, Mike Bradley; and our Chief Financial Officer, Greg Beecher. Following our opening remarks, we’ll provide details of our performance for the fourth quarter and full year of 2010, as well as our outlook for the first quarter. First, I’d like to address several administrative issues. The press release containing our most recent financial results was sent out via Business Wire last evening. Copies are available on our website or by calling Teradyne’s Corporate Relations office at 978-370-2221. This call is being simultaneously webcast at teradyne.com. Note that during this call, we’re providing slides on the website that may be helpful to you in following the discussion. To view them, simply access the Investor page of the site and click on Live Webcast icon. In addition, replays of this call will be available via the Investors page of teradyne.com about 24 hours after the call ends. The replays will be available along with slides through February the 13th. The matters that we discuss today will include forward-looking statements that involve risk factors that could cause Teradyne’s results to differ materially from management’s current expectations. We encourage you to review the Safe Harbor statement contained in the earnings release as well as our most recent SEC filings for a complete description. Additionally, those forward-looking statements are made as of today, and we take no obligation to update them as a result of developments occurring after this call. During today’s call, we will make reference to non-GAAP financial measures. We have posted additional information concerning these non-GAAP financial measures, including reconciliation to the most directly comparable GAAP financial measure where available on our website. To view them, go to the Investor page and click on the GAAP to non-GAAP reconciliation link.