Teradyne Inc. reported that it is lowering its outlook for Q3 due to reduced customer spending.

"Our customers are reducing their spending in the face of what appears to be an industry-wide slowdown," Michael Bradley, Teradyne's President and CEO, said in a statement. "As a result, we are now projecting third quarter shipments to be between $450 million and $470 million. Our earnings per share are now expected to be between 21 and 26 cents, on a diluted basis."

Teradyne had previously projected sales of between $530 million to $560 million for Q3, which ends Oct. 3, with earnings per share projected to be between 39 and 46 cents. In the prior quarter Boston-based Teradyne posted sales of $526.5 million and net income of $80.5 million, or 39 cents per share. Net orders for the quarter were $557.9 million.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved