Teradyne Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Teradyne Inc. (TER) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $64.2 million, or $0.40 per share. This compares with $83.5 million, or $0.50 per share, in last year's first quarter.

Excluding items, Teradyne Inc. reported adjusted earnings of $0.51 per share for the period.

Analysts on average had expected the company to earn $0.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $599.8 million from $617.5 million last year.

Teradyne Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $64.2 Mln. vs. $83.5 Mln. last year. -EPS (Q1): $0.40 vs. $0.50 last year. -Revenue (Q1): $599.8 Mln vs. $617.5 Mln last year.