Teradyne Misses Estimates by a Penny, Sees First-Half Slowdown - TheStreet

Teradyne

(TER) - Get Report

, a semiconductor equipment maker, missed analysts' fourth-quarter estimates by a penny, but even worse, provided a rather dim outlook for the upcoming fiscal period.

Income for the period rose to $117.7 million, or 66 cents a diluted share, from $75.2 million, or 42 cents a share, last year, but fell a penny shy of the consensus estimate of 67 cents, according to

First Call/Thomson Financial

.

In the first quarter, the semiconductor equipment maker said it expects shipments to come down 20% from the fourth quarter, while projecting earnings of 30 cents a share. Teradyne, which is based in Boston, said "we currently hold the view that 2001 will have a slow first half and a better second half, but the only thing that we know for certain is that the industry is very volatile and we therefore will remain flexible and will capitalize on the conditions that present themselves."

Wall Street is expecting the company to earn 65 cents in the first quarter. Sales for the fourth quarter rose to $789.2 million from $548.5 million a year ago.