The company said artificial intelligence (AI) applications, particularly in Memory, drove Semiconductor Test performance above its plan in Q1 2024. It said it expects AI demand to continue into Q2, helping to offset weak demand in the smartphone mobility test market.

10-QQuarterly reportFiled May 3, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said artificial intelligence (AI) applications, particularly in Memory, drove Semiconductor Test performance above its plan in Q1 2024. It said it expects AI demand to continue into Q2, helping to offset weak demand in the smartphone mobility test market.
The company said Teradyne will invest 481.0 million euros for a 10% stake in Technoprobe, and Technoprobe will acquire 100% of Teradyne's Device Interface Solutions business for $85.0 million. The transaction is expected to close in Q2 2024, subject to regulatory approval.
The company said Semiconductor Test revenue decreased $2.7 million (0.7%) in Q1 2024, and Wireless Test revenue decreased $14.1 million (36.4%). System Test revenue increased $0.7 million (0.9%). It cited product mix and lower volume as factors in the 1.2-point decline in gross profit as a percent of revenue.
The company said it generated $7.3 million from operating activities in Q1 2024, and that its cash, cash equivalents and marketable securities balance decreased $66.6 million to $870.6 million. In the same quarter, it repurchased 0.2 million shares of common stock for $22.1 million and paid $18.4 million in dividends.

Key figures

Quarter ended March 31, 2024

Revenue: $600M
Operating income: $78M
Net income: $64M
EPS: $0.40
Gross profit: $339M
Operating cash flow: $7M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Teradyne Q1 Business Update: AI and Mobile Test Demand

The company said artificial intelligence (AI) applications, particularly in Memory, drove Semiconductor Test performance above its plan in Q1 2024. It said it expects AI demand to continue into Q2, helping to offset weak demand in the smartphone mobility test market.

Source · Based on the MD&A text of the filing

Technoprobe Partnership and DIS Business Divestiture

The company said Teradyne will invest 481.0 million euros for a 10% stake in Technoprobe, and Technoprobe will acquire 100% of Teradyne's Device Interface Solutions business for $85.0 million. The transaction is expected to close in Q2 2024, subject to regulatory approval.

Source · Based on the MD&A text of the filing

Segment Revenue Changes and Gross Margin Shifts

The company said Semiconductor Test revenue decreased $2.7 million (0.7%) in Q1 2024, and Wireless Test revenue decreased $14.1 million (36.4%). System Test revenue increased $0.7 million (0.9%). It cited product mix and lower volume as factors in the 1.2-point decline in gross profit as a percent of revenue.

Source · Based on the MD&A text of the filing

Q1 Cash Flow and Shareholder Returns

The company said it generated $7.3 million from operating activities in Q1 2024, and that its cash, cash equivalents and marketable securities balance decreased $66.6 million to $870.6 million. In the same quarter, it repurchased 0.2 million shares of common stock for $22.1 million and paid $18.4 million in dividends.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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